Your Guide to Influencer Marketing Metrics

As more and more companies realize the benefits of leveraging authentic creator content, the amount of money spent on influencer marketing globally has significantly increased over the past few years. But while marketers get ready to spend more than billions on influencer marketing in 2023, there is still one question that needs to be answered:

How can you ensure that you are getting the most out of those dollars by tracking and measuring your various marketing campaigns?

Measuring the success of a marketing campaign is essential to achieving success and locating the appropriate metrics that can supply you with that information will assist you in making decisions about strategy for basic influencer marketing fundamentals.

The most important indicators of success in influencer marketing

It is essential to your influencer marketing campaign’s success to keep track of the appropriate numbers. Not only does the establishment of measuring your KPIs assist in the determination of success, but it also enables you to communicate that success to your team (and to your superior), which contributes to the achievement of the brand’s overall marketing objectives.

Awareness of the brand

If raising awareness of your brand is the objective of your campaign, then you need to monitor the amount of reach, engagement, and impressions that the content you produce generates.

You should also look at any mentions of your brand made in the content generated by your influencers. It is important to keep in mind that the content of these mentions and comments is very important. If you find that an unusually large number of people have negative feelings, you need to investigate what went wrong and find a solution as quickly as possible. Observe and take measurements of the following:

Those Who Follow

Always make sure to keep a record of the followers you gain throughout your influencer marketing campaign.

It is important to begin tracking your followers several weeks before the campaign is officially launched in order to ensure that the new followers came from the campaign itself and not from another source. You will have a better idea of how much the campaign caused follower growth if you compare the followers you had before your launch to the followers you gained during the campaign. In this way, you can compare your followers before your launch to those you gained during the campaign.

Impressions

The number of times a post is shown in users’ timelines or feeds on social media platforms is referred to as its impression count. This metric is one of the most effective ways to measure the visibility of your brand to the audience you are trying to reach with, ultimately, to calculate your brand awareness to determine if boosting engagement rates is a good idea for the campaign.

Additionally, impressions provide useful information about the reach of your content with various influencers, which can assist you in refining your influencer selection process for future campaigns.

Hashtags for campaigns and brands

The name of your company is included in branded hashtags, as the name suggests; however, in addition to that, they may also include a slogan, the name of a product, or a tagline for one of your campaigns.

By taking this approach, you will be able to monitor how well your campaign is doing by concentrating only on the hashtags associated with your brand. Additionally, it makes it simple to collect user-generated content from customers who test out your product, fall in love with it, and want to assist you in marketing it to other people.

Conversions

Depending on the type of campaign you are running, a conversion could be anything from an outright purchase to the registration for a free trial to a subscription, etc. The optimal strategy incorporates multiple conversion metrics. This provides customers with more than one option for committing to your brand.

When it comes time to determine how effective your campaign was, using a variety of conversion metrics will result in more accurate measurements. When you have more ways to measure how an influencer led someone to take a particular action, you will have a better idea of whether or not you want to partner with that person over the long term. Observe and take note of the following:

Trackable Links

Trackable links are one of the most straightforward methods for determining the conversion rate of your campaign. Common analytics programs, such as Google Analytics, are able to decipher the one-of-a-kind URLs that have been assigned to each individual link. After that, you can use those links whenever you share a blog post, an email link, or any other asset designed to drive conversions to clearly demonstrate the point of origin for each conversion.

Affiliate Codes

Discount codes typically include limited-time offers that customers can use during the checkout process, whereas affiliate links typically include exclusive deals that help affiliates generate leads and commissions.

It is up to you to decide which one is the most effective for your campaign; however, both of them will assist you in developing an enticing call-to-action for your target audience of customers and will supply trackable URLs that make it simple to attribute conversions to your influencers.