How to Measure the Success of your Influencer Marketing Campaign

Influencer marketing has revolutionized the way we do marketing. We know great content is being created and that there is big potential for great results but gaining accurate insights is no mean feat. 

After all of the effort spent setting up and executing an influencer campaign this step is often rushed or overlooked but this is one of the most important parts of your entire campaign. 

Hopefully we can help to demystify this step and teach you how to uncover valuable information that will not only help future influencer campaigns but also your wider marketing activity.

1. Define your Goals

The relevance of what you measure will depend on what you’d like to get out of your marketing campaign. It’s crucial to identify this prior to starting your campaign so you can plan your campaign accordingly and understand whether or not the campaign was successful once complete. 

Are you wanting to reach new customers? or you want more people to follow your brand on social media and engage with your content? Are you driving traffic to an online store? Or are you wanting people to visit your new brick and mortar location?

2. Understand key metrics

Brand Awareness

Now you’ve defined your goals, let’s dive deeper into what some of the key metrics are, what they mean, and why they are important.

Of course we all want to ultimately drive sales but it is important to remember if someone is never made aware of your brand then they will be very unlikely to make a purchase from it but if someone follows your brand and has been following you for a while they will be more likely to purchase from you, possibly even multiple times. Each metric also will also give you useful insights into what people are responding to so that you can learn about your audience and adapt accordingly.

If you are wanting to increase the overall awareness of your brand then you should be looking at your Reach, and Impressions.

Reach is the total number of unique people who have viewed your content or ad.  

Impressions are the number of times your ad or content has been displayed, no matter if it was clicked or not or viewed by the same person more than once.

When creating your influencer campaign with Outfit, we’ll report on the total reach and impressions your campaign received and benchmark this against industry standards so that you can use that data to analyze results.

Engagement

Engagement and Interactions are a great way of knowing if the people you are targeting are actually taking interest in your content or product. If they aren’t engaging with your content you may be targeting the wrong people or you content might not be interesting enough to capture their attention.

Engagement consists of likes, comments, shares and profile clicks.

Interactions consist of sticker, hashtag, profile, and mention clicks.

Outfit will report on both of these metrics for the whole campaign as well as for each influencer. We can even split this into each location if you need us to so then you can easily gather and analyze the data.

Audience growth or the amount of followers you gained from the collaboration will give you a strong indication into how engaging the content is and the relevance of your brand to that audience. Mutual followers are good to note also, indicating they came directly from the collaboration. Outfit provides you with a summary of this metric against an industry benchmark once the campaign is complete. 

Website visits can be tracked directly in app via Instagram stories but not posts. However, you can also use Google analytics and UTM links to help track this. It is important to also note any increase in overall traffic to your website around the time of the campaign too.

Conversion

UTMs are a great way to directly track conversions and what influencer they came from and so are affiliate discount codes and links.

As with traffic, you should note down and attribute an upturn in sales around the time of the campaign to because there will be customers who may not click directly through to make their purchase but still end up purchasing later on.

With the launch of our new influencer marketing tool CreatorCart attribution will become much easier and more accurate. Keep an eye out for more on this soon!

3. Look beyond the metrics 

Influencers provide so much more value that simply clicks and conversions. They can help to improve overall brand loyalty, they can help you shift perceptions of your brand, and they are an authentic way to deliver important messages to your customers. They provide a way to deeply connect with the people you are targeting however you may want to do that.

They also provide create content for you to use for other marketing material. Make sure to be explicit about content usage in your briefs if this is your intention but many influencer create highly engaging and professional content that you could reuse elsewhere saving on potential production costs further down the track. If you receive a lot of great content you can use on your own channels then this should be a measure of success for your campaign too.

4. Use an influencer marketing platform

Using an influencer marketing platform means that the compiling of all of this data is done for you so you can save that time and use it elsewhere.

Outfit is an end-to-end influencer marketing platform, providing smart technologies for brands and agencies to seamlessly connect with creators to manage campaigns, amplify their message and attribute success. We have everything you need from influencer selection, easy payment processing and a full report of key metrics at the end of your campaign to understand your success. 

Sign up to Outfit today, free of charge and discover how influencer marketing can amplify your next marketing campaign.