Are you working with social media influencers or looking to start an influencer marketing campaign?
Before you begin your marketing campaign, make sure your influencer marketing strategy aligns with your most important key metrics and goals.
Marketers will get the most success if they track and report analytics along the way.
In this blog, we will explain how to track and measure the success of your influencer marketing strategy and campaign.
5 Ways To Measure Influencer Marketing:
1. Measure Engagement
Engagements are measuring the number of likes, comments, shares, sales, website clicks, and reactions your brand is getting from visitors who are engaging with your content.
Marketers can also use cost per engagement (CPE) to show how much money is spent for each like, comment, click-through, etc.
Engagement shows how followers feel about your brand, not just the products you sell.
To show the number of engagements your social media influencer is getting for your brand, track these key metrics:
2. Tracking Pixels
Tracking pixels can help you measure how many people are visiting your website and where they are coming from.
You can ask your brand influencer to install a tracking pixel to their pages to track more metrics in your campaign.
Tracking pixels drop a cookie that tracks your visitors journey and audience behavior on your website. Once you know who your visitors are, you can re-target those visitors and advertise to them later.
This is also measuring the effectiveness of your influence marketing strategy, campaign and ROI.
3. Measure Brand Awareness
When measuring brand awareness, one of the most important metrics to consider is impressions. Impressions tell you how many people viewed a piece of your content.
With influencer marketing, impressions tell you how many people saw your content. The more people you can reach in your target audience, the more success you have with brand reach.
Impressions DO NOT mean that a person engaged with your content, it only tells you the number of eyeballs that saw your content.
3. Use Google Analytics
Google Analytics is a powerful influencer marketing platform that reports and tracks reach, engagement, new followers, page views, referral traffic, leads, sales and time spent on site.
Google analytics has the power to track the exact URL visitors are on before they click to go to your website. By having this data, you can see which social media influencer is sending you the most traffic and having the most success.
4. Use Promo & Coupon Codes
An easy way to track purchases is by giving your social media influencer a custom coupon code to give to their followers to use on your website.
Be creative and incorporate user-generated content to make the decision-making process easier for your followers.
Share the promo code across all social media and blog posts to increase influencer engagement and sales. Promo codes allow you to track purchases down the road beyond immediate purchases.
5. Create Tracking Links
Marketers can use UTM parameters to tag their links. UTM parameters are tags you add to a URL, which measures the success of your influencer marketing campaigns. When a visitor clinks your link, the tags are sent back to Google Analytics and tracked.
You can give these to your social influencer to promote your brand content and campaigns.
They also increase the number of visitors going to your website.
Whether you are already working with social influencers or you are developing your marketing strategy, these metrics and marketing tips will help you measure engagement, followers, reach, brand awareness, key metrics and so much more inside your marketing campaign.
Don't forget user-generated content is most effective!