Social media influencers are a powerful tool in marketing. Whether they’re getting people to tune into your live stream or boosting the visibility of your video, you need metrics to make sure it’s actually working and not just noise on social media.
It is important to know how your influencer marketing campaigns are going. This way, you can figure out what the success rates of your campaign are and make adjustments accordingly. Read more in detail here: how to track influencer marketing campaigns.
The phrase “influencer marketing” has recently been bandied around by an equal number of doubters and believers.
While there are instances of influencer marketing campaigns that fail, such as businesses spending $1 million on influencers and without knowing how the investment affects their company, influencer marketing done right may have a deep, beneficial impact on your organization.
Influencer marketing should be a part of your overall marketing strategy.
You’re losing out on a very effective technique to promote your brand if you’re not using influencers as part of your marketing plan. Influencer marketing uses popular social media stars’ high social reputation and industry relevance to spread a brand’s message.
Influencer marketing uses earned media channels like word-of-mouth to spread a message and is the major reason behind 20 to 50 percent of all purchase decisions, according to a McKinsey research. The message has greater weight in the eyes of customers when it comes from highly respectable persons.
According to eMarketer, 81 percent of marketers who have used influencer marketing have found it to be successful. Influencers also send out three times as many word-of-mouth communications than non-influencers, and each message has a four-fold effect on the buying choice of the receiver.
After you’ve found the perfect influencers for your company, defined the sort of content you want them to generate, and established goals, you’ll need to set up the necessary metrics to track their progress. What methods do you use to assess? What is the significance of the measure in question? What are the tools you employ? Here’s what we’ll tell you.
Essential Marketing Metrics for Agencies and Businesses is a good place to start.
With over 30 million companies fighting for customers’ attention in the United States, marketing without a return on investment isn’t going to cut it. To calculate the actual ROI of influencer content, look at referral traffic, brand, engagement, and conversion data.
1. Traffic from Referrals
Google Analytics (GA) gives you a lot of information about where your website visitors originate from. On GA, referral traffic comes from three different sources:
Direct visitors are those that arrive at your website by inputting a URL into a web browser.
Those that find your website using a search engine.
Referral visitors are those that come to your site as a result of a link from another website.
Each source should be monitored, but the referral visits statistic is a key measure of the effectiveness of an influencer marketing strategy. You may evaluate a huge quantity of referral source data using Google Analytics.
Application in practice: To compare material directly attributable to an influencer to your other content, create a bespoke report for your influencer campaign. Measure activity from influencer referral websites by segmenting them and utilizing direct and search referrals as a baseline. Consider the number of unique visitors, the time spent on the page, the navigational route, and the number of people that were aided.
Website traffic are a critical reporting measure for most organizations, and influencer marketing initiatives should be no different.
2. Metrics of Brand Awareness
In terms of revenue, brand awareness measurements are less important, but they are useful indicators of how an influencer has changed the discourse about your business.
When it comes to brand measurements, there are two key performance indicators (KPIs) to consider: sentiment and frequency. Sentiment is the average number of times a person is exposed to a brand over a specific period of time, whereas frequency is the average number of times a person is exposed to the brand over a set period of time.
Application in practice: Track and report brand awareness data using platforms like SocialMention or Trackur, such as:
Strength: The possibility that your brand will be discussed on social media.
Sentiment is defined as the proportion of favorable to negative brand references.
Measures the possibility of your content being shared on social media several times.
The term “reach” refers to the extent to which a person’s influence can be measured.
Set a baseline for your existing content metrics as well. Over a period of time, compare the same measures. (Month to month is a wonderful place to start.) Next, set growth targets for your influencer content (in percentages). Without actual statistics, KPIs are meaningless; fortunately, with the correct tools, formerly unquantifiable measures like brand awareness and sentiment can be quantified.
Through likes, blog comments, social dialogue, and shares, engagement expands your brand’s reach to current and new consumers. It’s particularly important for influencers who have the ability to cast a large net of social dialogue and ignite it.
Determine how consumers react to an influencer’s material. While this sort of activity has no direct influence on sales, it is useful for increasing awareness and consideration in order to move consumers farther down the conversion funnel.
Calculate the engagement rate per influencer post, or aggregate influencer content, and compare the aggregate influencer rate statistics to non-influencer material for a practical application. The engagement rate may be calculated in two ways:
(Image courtesy of Simply Measured)
4. Links that can be tracked
Custom link shorteners have the inherent benefit of preventing visitors from having to type a long URL. Many custom link shorteners come with an extra bonus: the option to build unique links per campaign, allowing you to group activities in a report.
Bitly may be used to develop campaigns in the real world. Measure influencer content versus non-influencer material by segmenting it using a specific campaign URL.
5. Conversion Objectives
With Google Analytics, you can quickly set up influencer-specific conversion targets and monitor them using triggers like activity on a given campaign, landing page, or web page. More information on sophisticated analytics for content campaigns may be found here.
Practical application: To create goals, you first need to login into Google Analytics, Then navigate to Admin > View column > Goals. Hit “New Goal” and identify the type of goal, description, and details of what you want to track. Plan out your goals and related triggers before you get started. This will help the user more easily create the goal and related logic required to set up the triggers if needed.
Influencer marketing has the potential to be very effective, but it must be assessed, just like any other well-executed marketing effort. These distinguishing indicators will help you evaluate the genuine strength of your brand’s influencers and will also help you plan future tactics. Set off to conquer the world!
The “google analytics influencer marketing” is a process of tracking the reach and impact of your campaigns. It allows you to measure the success of your campaign, as well as estimate ROI.
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