For brands

How to measure influencer marketing

Ludmila Savina
Author
Frequently we make purchases under the impact of external factors: advice from colleagues, friends or relatives, advertising on mass media or internet. Sometimes even a certain thing of a passer-by can cause our desire to buy the similar. Marketers took this aspect into account a long time ago and successfully use it in their strategies.

Originally, the idea of influence in advertising world appeared in 1940 and was called as "two-step flow of communication". It means that it's quite difficult to influence one person with the information from mass media. But when we hear this information from our close people it makes more impact on us and our opinion.

Over times this idea undergoes different transformations. Initially, brands decided to use celebrities in their advertising campaign in order to make consumers buy their products. Then, due to the technical development, this methods moved to the internet. When social media gained their wide popularity, the current influencer marketing showed up.
Influencer marketing effectiveness

Influencer marketing is not only about making advertising with the help of social media influencers. In fact, it's a good opportunity to make a big community of those who really like your brand.

According to influencer marketing statistics of One Production corporate, 94% of marketers consider the collaboration with social media influencers very effective. Also, there was found that 90% of consumers absolutely follow influencers advice. At the same time, only 33% are impacted by traditional advertising.

To prove the effectiveness of such method let's consider the example of the recent campaign from our influencer marketing platform. ZV Development company made their new project QDRO – cottage house with modern energy-saving houses. They wanted to increase the awareness about it among their target audience and decided to work with 9 micro-influencers. As a result, they generated 9 273 interactions and the total reach of the campaign was 367 861 users.
How to measure the campaign effectiveness

The measurement of the campaign with social media influencers sometimes can be a little bit difficult. First of all, you need to specify particular goals: increase brand awareness or loyalty to it, increase the number of sales or clicks on the website, get feedback, create an unusual content, attract a new audience. Then plan your strategy, write a brief and find appropriate influencers. If you want to make things easier it's pretty good to use the influencer marketing platform. There you can see all the information about previous work of influencers and supposed rate of the campaign.

While choosing influencers for your campaign pay attention to their previous advertising posts or even ask them to provide you with the full information about their results. It takes you some time, but it'll help you to assume approximately how effective will be posts of each influencer.

At first sight return on investment in influencer marketing seems a little bit blurry. It's quite hard to predict how many sales or impressions generate influencers posts. You can analyze your ROI through such indicators:

  • Audience reach
  • Engagement rate
  • Impressions
  • Subscriptions
  • Traffic to your website
  • Downloading apps
  • Followers growth on your official brand's pages
  • Sales
According to this influencer marketing statistics, 81% of marketers pay the biggest attention to engagement (the number of users who saw the post, their likes, comments, and shares) while measuring ROI. Using influencer marketing they place more bet on brand awareness and increasing the loyalty among consumers. After all, this type of advertising is mostly about to get consumers trust and commitment to the brand. Thus it's very important to find such social media influencers which can become brand advocates.

How to track ROI

Now exist a few ways which can help you to track ROI. It can be the influencer marketing platform or special marketing analytics software. But let's figure out what tricks can you use in order to track more detailed results.

It's quite easy to analyze the growth of followers on the official brand's page or the number of registrations on service. You just need to track these indicators during the week after influencers publish their posts. Most likely that all new followers or numbers of registration for this period will bring you exactly influencers.

One of the easiest way to monitor how many clicks on the website of your service or product generate influencers is to use special UTM tracking code to your link. You should ask influencers to add this link to their posts and thus you'll see the total amount of clicks. Also, you can make special promo codes on your products for influencers and you'll find out how many sales generate each of them.

If you want to understand how the brand awareness or the audience engagement has grown you need to analyze influencers posts. The number of likes, comments, and shares will be the evidence of post effectiveness of each influencer.
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