If you ponder upon what influencer marketing actually is then the name is self-suggestive. Any marketing campaign that makes you tie-up with influencers or famous people is termed as influencer marketing.
This new marketing strategy has given a boost to a whole new market of agencies that help you in branding through social media platforms. This is what we at Confluencer An Influencer Marketing Agency help you to do. We assist you to find suitable influencers and also to connect with them. Once you get going with your campaign, we tell you how to proceed and also provide you with result metrics at different stages.
Measuring the success of any marketing venture is not very easy and also disburses a lot of time. This is why it is recommended to get help from such analytics and agencies. We have shortlisted some of the best tactics which can help you keep track of your success yourself.
1. You Should Begin With Determining Your Campaign Reach.
One of the most important objectives of any marketing venture is to increase the reach. A few metrics like Impressions (number of times the post has been viewed) Followers (number of people who actively follow), and Traffic (people who visit the website using influencer’s link) help you to study the reach of the influencers you are working with.
2. Determine Engagement
Getting an idea about your campaign’s reach is not enough. You need to dive in further to know the actual engagement as well as the cost per engagement. Only then you will be able to calculate the actual ROI. These will indicate how interested people are in your brand/product. In order to track engagement, you must keep track of likes, clicks, shares comments, etc.
3. Specify The Revenue
If determining sales is one of your objectives then you must keep a track of the total sales. Create affiliate links that can let you know if a person makes a purchase. As for the influencer the get commission for each sale. These links also tell you about the number of clicks. Based on these factors you can calculate the average returns.
You can also get assistance from Google Analytics. It begins by tracking your search traffic, referral traffic as well as direct traffic. Then it helps to create an influencer tracking URL, using Google URL Builder. Then, you create an event after specifying your goals and see how many people have visited your website through the influencer posts. This again helps you to track the success of your venture using sales.
5. Use Softwares
Actually tracking the success of your influencer marketing campaign can be a tedious task. It also requires you to invest a lot of time. But with the help of software, this work can be done in a very short span of time. There is specific software that keeps a record of every penny you spend and earn in real-time. Softwares like Lingua, Izea, Mavrck, etc. are available for the same.
6. Promo Codes
Promo codes basically act like discount coupons for your customers. This is the most obvious and basic function. However, the second purpose is more important. It can actually help you to track the purchases driven because of the influencer. Find out how many consumers have used the promo code that has been endorsed by the influencer. Then calculate the subsequent ROI using these statistics.
7. Specifically, Keep Track Of Website Traffic
Tracking sales, likes, shares, etc. on the social media platform or the influencer’s post is obviously required. Besides this, you need to know how many people have landed on your website after checking out your product on social media. Metrics like page views, time on site, total sessions, new users, etc assist you in doing so. Google analytic can again be a great help in this measure.
8. Growth Of Database
An important part of your influencer marketing campaign is to increase your email database. In order to do so, you must work with email marketing platforms that collect and keep a track of such information. Generally, they have inbuilt metric tracking systems that notify you about new consumers. You need to measure how many new emails have entered your database. From this information, you can decide upon further requirements and collaborations with the influencer.
9. See If Your Product Has Reached New Markets.
One important objective is to gain a new audience and widen the range of your campaign. Impressions, audience data, and their sentiment are very important. Audience data is a new metric that has come up recently and is very insightful. Likewise, their sentiments about the product/brand also shape their willingness to procure your product. Third parties are outsourced in order to study the audience and their preference and then proved demographics. If they are seen to be positive and increasing, take it as a sign that your campaign is becoming a success.
10. Assess The Results Frequently.
After you deduce all the numbers and metrics, assess them periodically. Filter those influencer relationships which are performing poorly and retain the ones that bring the maximum returns.
You must try to incorporate at least some of the aforementioned measures to see if you were able to hit the bull’s eye. We, at Confluencr, are sure that with our aid and your will, all of these measures will indicate that you have been successful.