Measuring the ROI of an Influencer Campaign
Who wouldn’t want a return of investment for their marketing efforts? Not anybody! Influencer Marketing can bring in a lot of ROI for your brand. Accoridng to Influencer Marketing Hub, every R13,77 spent by brands on Influencers can get up to R79,58 ROI. Doesn’t that sound rewarding?
Its undeniable… there will never be a time when your marketing team can sit back and relax. It is not a “set it and forget it” type of campaign.
If your Influencers have 100% control of what they do, it is still up to the brand to handle the logistics and make sure that the content created is appealing to the audience and holds the brands name and values.
Your business should set up ownership of different tasks such as: setting up tracking pixels, sending product to influencers, upholding brand safety, creating content, ensuring Influencers are doing the right thing and incorporating new features on platforms if they will boost the campaign. Keep in mind that you should always want to get superior results.
What should you track
- Post Engagements: Number of likes, comments and shares.
- Story Views: Number of times a story was viewed
- Post video views: Number of times a video was viewed
- Replies, shares, profile taps and link clicks: Can be seen on an Instagram business account under insights
- Post impressions: Total number of people who have seen your post
- Post reach: Total number of people the post has reached
- Tracking pixels: Information gathered about what the viewer did on the website
You are able to tweak campaigns whenever you like, even if they are running. You can change the content, message, visuals.
Optimization allows you to target the exact audiences that you are most likely to reach through influencers. It helps boost social proof by taking advantage of the influencers’ endorsements.
6 variables that are incorporated in optimization.
1. Call to Action (CTA): A short phrase for the customer to act now.
2. Concepts: Creative ideas to attract the audience to want to engage.
3. Post type: A single or combination of different media features on the platform.
4. Target audience: Who are you wanting to market to.
5. Influencers: Social media users whose followers look to for advice, guidance and role models.
6. Distribution: Greater reach for the top performing content.