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How to Measure the Value of Your Influencer Program

It’s no secret that influencer marketing is on the rise. We know that building out a successful influencer marketing program can feel daunting and perhaps even a little nebulous, but it doesn’t need to be! The real secret is finding the right people to partner with, and laying out appropriate measuring capabilities. Let’s walk through it together.

Seek the Right Type of Partnership

Not all partnerships are created equal. Generally speaking, you can look at influencer marketing in one of two ways:

  1. You’re paying for a service.
  2. You’re creating and nurturing a partnership (this can still be paid).

Psst: choose option number two. The best influencer-to-brand relationships are mutually beneficial and sincere. Go after the influencers who are specific to your niche and have a curated following as a result. Though niche-specific influencers may carry smaller followings, the target audience they have already curated could pay bigger dividends than partnering with a highly-followed influencer who doesn’t specialize in your space.

Though niche-specific influencers may carry smaller followings, the target audience they have already curated could pay bigger dividends than partnering with a highly-followed influencer who doesn’t specialize in your space. Click To Tweet

Measuring the Tangibles

Does the influencer have a deep following? What kind of engagement do they garner on their posts for your brand? What do the impressions and reach look like? How do their click-through rates look? Has the traffic on your site spiked in correlation with their posting? Gleaning these hard numbers are great data checkpoints to measure how individual influencers are performing for your brand over time and can help you tie things back to your business KPIs and core objectives.

Was your brand looking to increase their email newsletter sign-up? Maybe you were looking for a bump in your social media following. Paying attention to how your specific business goals are impacted with each influencer will help you figure out who makes the most sense for your brand to continue to partner with for the long haul.

Also, when measuring results, be sure to ask for a metrics report and deadline from your influencer, especially if you’re paying for their partnership. This will allow you to key in on metrics you don’t have easy access to. Again, tracking these numbers and tying them back to business results will help you understand the value each individual brings to your brand.

Take our Influencer Marketing Readiness Quiz 

Measuring the Intangibles

Wait, what? How do you measure something that is intangible? Isn’t that an oxymoron?

Well, not totally. When we’re referencing the intangibles, we’re touching back to the types of partnerships that you garner with said influencers. Once you’ve engaged with an influencer, how do they treat the partnership? Do they keep communication lines open and easy to navigate? Do they go above and beyond the duties outlined in your agreement or post the bare minimum? Think back to your onboarding process and consider how smoothly the transition was with them as well.

These are all important caveats to consider when looking for long-term influencer partnerships.

Are you looking for some coaching in implementing an influencer marketing program? We can help with that! Let’s chat.