With the continuous rise of social media, a new brand of online celebrities starts to dominate, too, in the form of the “influencers.” These influencers are carefully chosen based on their social media presence, brand identity, and content. But how do you track their effectiveness? There are several KPI for influencer marketing that every manager has to know by heart. Below are five of the most important measurements to monitor whether your influencers are able to convert online mileage to real-life success.
The first thing you should look at when tracking marketing KPIs is your website traffic. See if there is a growth from before and after you launched the campaign with your influencers. You can also try tracking from their specific posts by adding UTM links on their content. This will easily track visits coming from their end going to your website. Take note of these metrics when tracking website traffic:
- Users and new users
- Total sessions
- Time spent on site
- Campaign visits
An influencer’s main edge is the number of his followers on social media, so it’s just right to track whether a fraction of that number is reached by your campaign and converts to be your fans as well. Get more info on audience reach by checking these parameters:
- Traffic demographics
Engagement is one of the most important KPI for influencer marketing since this is where you’ll see whether the campaign elicited a reaction from your target audience. By measuring engagements, you can better determine whether your target market is interested in your brand.
Each social media channels has unique ways of measuring user engagement. For the top two most-used social media by users worldwide, here are some of the key variables in understanding a content’s success rate:
- For Facebook and Instagram
- Likes or reactions
- Favourites and retweets
The main reason why your company reached out to influencers is to increase leads and conversion rates. Therefore, an influencer marketing campaign should hit the target leads goal to be deemed successful. Lead generation is a combination of brand reach and awareness plus audience engagement. When measuring lead performance, check out these metrics:
- Click-through rate (CTR) – this measures the clicks on the assigned CTA
- Conversion rate – measures the percentage of leads that successfully performed the assigned action or goal.
Ah yes, every marketer’s end goal—to make a sale. All the KPIs mentioned above are great areas to look at to measure the campaign’s performance. But sales is the most basic yet most important KPI for influencer marketing and also the easiest to track. You can assign unique trackable links such as UTM parameters and track them on Google Analytics. Or you can give promo codes to your influencers to track the generated sales easily.
Want to start your influencer marketing campaign but not quite sure where to begin? Visit https://theinfluencemarketer.com/ and schedule a sit-down consultation. The influence marketer, Tom Augenthaler, will provide helpful insights and strategies to propel your campaigns to success.