5 Must Measure KPIs For An Influencer Marketing Campaign
After extensive research and the vetting of social media accounts, you’re ready to kickstart your influencer marketing campaign. Nonetheless, your work has just begun. Influencer marketing has proven successful to many brands and marketers; however, what does a successful campaign look like for your company?
Outlining measurable KPIs (key performance indicators) is crucial to understanding the success of your influencer marketing campaign. Why are KPIs a must to determine a campaign’s success? Because you’ll be able to:
- Evaluate an influencers “brand-worth”
- Understand a campaign’s ROI
- Create benchmarks for future campaigns
- Sell-through influencer campaigns as an on-going marketing initiative
The following KPIs should be considered depending on the type of campaign and the brand, product or service you’re marketing:
1. Brand Awareness
To some, brand awareness may seem like an elementary metric; however, it plays a major role within all facets of marketing, whether online or offline. For influencer marketing itself, brand awareness (or campaign-specific awareness) is generally one of the main goals for most companies. Whether you’re working with one influencer or a hundred, you’ll want to understand how many people were exposed to your brand/campaign. This metric is key to understanding the overall reach of a campaign. Consider measuring the following:
- Overall Reach (Public Insights): For YouTube campaigns, you can use video views as a metric for overall reach.
- Overall Reach (Private Insights): Ask the influencer(s) to share their private account metrics for a video’s (or social posts) reach and impressions.
You can track this manually by creating a spreadsheet to calculate the overall reach/brand awareness. Or you can use a software, like ivvi to track influencers videos, review reach metrics and create campaign reports.
2. Social Engagement
Social engagement is a great way to understand the overall sentiment of a campaign. Usually, a social engagement is considered to be:
- A “like” (or dislike – ie “thumbs down on YouTube)
- A comment (whether positive or negative)
- A share
- A post-click (or video view)
- A link click
(Photo source: Social Media Examiner)
Before launching a campaign with an influencer, make sure you communicate that you’ll want a final report from them to highlight the above metrics.
This will help you identify how an influencer’s audience interacts and resonates with the content.
Once you have all the metrics from influencers you can then calculate individual and overall campaign engagement rate. See below for calculate format.
3. Referral Traffic
The above two measure metrics can be a contributing factor to driving website traffic garnered from an influencer marketing campaign. Google Analytics outlines where all traffic is coming from online to your website. One of these metrics includes referral traffic, which highlights website and social channels have driven link clicks to your website. If your influencer marketing campaign is driving online users to visit your website, this metric is key to understanding how an influencer’s content contributes to traffic over other (owned) content and/or online marketing campaigns.
4. Trackable Links
When you’re working with influencer with a goal of driving traffic or engagement with a website or landing page – always provide each influencer with their own trackable link.
Unique links for individual influencers will allow you to have insights on how many clicks a piece of content has generated.
There are many ways to create trackable links for free, including the user-friendly Bit.ly site. But if you wish to connect your links to your Google Analytics you should consider creating UTM links through Google’s Campaign URL builder. This tool allows you to easily add campaign parameters to URLs so you can track Custom Campaigns in Google Analytics.
5. Conversion Tracking
Just because your influencer marketing campaign is “over” doesn’t mean the content created by an influencer(s) just stops generating engagement with your brand. Conversion tracking is especially important to track when the goal of a campaign is to convert sales on an e-commerce website. In the Conversion section of Google Analytics, you are able to create event goals, which ultimately tracks an influencers referral traffic to a specific goal (i.e. a product purchase, a visit to a page or a form completion). Whatever the end goal, this tool provides a reliable assessment of your ROI from specific influencers.
These must measure KPIs are just a few examples of how you can track the success of your next influencer marketing campaign. Stay tuned for more influencer marketing tips and tricks. If you have a topic you want our opinion or expertise on, please contact us email@example.com