Effectively measuring your marketing campaigns have become critical to understand if your efforts are working and how exactly to adjust them if not. Although influencer marketing is still a newer marketing frontier, it too relies heavily on metrics.
You’re probably familiar with a lot of these basic metrics:
- Engagement Rate
But you can dig deeper and lean on new influencer marketing metrics to help scale your program. The key is to go beyond the basic performance metrics and measure influencer marketing’s effect on the brand – especially over a long period of time.
Let’s go through a few examples of what you can measure on the brand side to understand the full picture and help scale your program over time
1. Brand Lift
Looking at the big picture impact of influence marketing, you’ll want to see how it’s lifted your brand as a whole. First, identify your brand social platforms’ following, engagement rate, reach, and impressions before any influencer activations begin. Then consistently measure these metrics month over month to understand their correlation to influencer activities.
2. Website Traffic
Once again track initial landing page traffic or specific web pages designated for influencer promotion before IM activities begin and monthly afterward. Google Analytics can measure more than just website traffic. Look for other website activity from visitors such as bounce rate and specific actions visitors take on your website.
3. Call to Action
Although a call to action is not a new marketing tactic, the act of tying a specific call to action for your influencer marketing efforts is. To ensure you understand your influencer campaign results, make sure you create specific asks from your influencer’s audience that are unique to that campaign. Examples of this can be creating specific email lists, coupon vouchers, whitepaper access, video tutorials, requests for testimonials, or additional gated content.
4. Audience Sentiment
It’s important to keenly observe audience sentiment during an influencer marketing campaign. On the surface, the sheer number of comments your influencer content is garnering might be high but you need to understand whether the sentiment is positive or negative. Consider: Is their audience responding to the topic at hand or does it look like bot activity? (Bot activity often isn’t relevant to the content or includes only emojis). Is the audience very dissatisfied with your brand and speaking negatively? Make sure to observe how followers are responding to your brand’s content over time across social platforms.
5. Share of Voice
Share of voice (SoV) is the total number of online mentions your brand receives versus your competitors. This metric is a strong indicator of how well your brand is known, how often you are mentioned, and where you stand in the competitive landscape. As you may imagine, increasing your SoV can have a major impact on sales and brand awareness over time. Working with influencers to increase mentions over a consistent amount of time with a genuine voice can move the needle for your business and make you stand out in an ever-increasing market place.
By measuring influencer-specific content as well as your brand’s platforms, you’ll find yourself better equipped to understand the impact of influencer marketing over time and if it’s the right fit for your business.
Contact Social Tribe for more information on how we can get your influencer marketing strategy started!