Measuring the Return on Investment for Your Influencer Marketing Campaigns
There was a time when marketing was an industry where participants were best served by following their gut instincts. They could make connections through networking, nurturing each individual one methodically.
Although these relationships remain at the core of how advertising works today, the industry is now undeniably data. However, how can we measure the effectiveness of fluid initiatives like influencer marketing campaigns?
As influencer marketing has continued to evolve, so too has the standard in measurement utilities to measure the return on investment (ROI) for an influencer marketing campaign. Metrics like engagement velocity and rate can offer you a more translucent picture of your influencer content performance over traditional resources.
Here are some techniques to utilize and specific factors that your company can assess to measure ROI regarding influencer marketing.
Establish Clear Goals and Measurements
The very first step to measuring anything accurately should begin by implementing a clear goal. You cannot rely on ideas that remain immeasurable or non-specific ideas. Think about terms like “increase engagement” or “improve brand awareness.”
Instead, focus on ideas that you can describe with clearly defined metrics. You may want to initiate your expectations for an influencer marketing campaign with goals like “increase our sales by [x] amount of dollars” or “expose [x] number of followers to our new product.”
Rely on Pinterest
With all the clamor about how great the advertising space is on Instagram and Twitter, Pinterest often gets left by the wayside. Nonetheless, Pinterest is significant because the date you upload content to Pinterest almost doesn’t matter at all.
You should utilize influencer cross-promotion to Pinterest as well as any other social media sites they use (especially Twitter, Facebook, and Instagram). You will discover that the finalized result of this influencer marketing campaign is a long lifespan with further reach for every piece of content.
Implement Links on YouTube
YouTube influencers remain some of the most effective in the industry. Unfortunately, it is also exceedingly difficult to measure ROI on a YouTube influencer marketing campaign. The best way to measure your results is by including links within the description, or the video itself specific to a particular influencer.
By employing these specific links, you can analyze the traffic for each influencer, tallying up the results. This is an ideal tactic to help you measure ROI for an influencer marketing campaign for almost any brand type.
Influencer marketing is one of the absolute best marketing moves that your brand can make. Their efforts may net you ten times the return on investment as banner ads when you implement strategies correctly.
You will obtain optimal results by tracking progress and making modifications as necessary. This means applying the same data-specific mentality that you should when using any other digital marketing strategy.
Without clearly defining how you measure advertising effectiveness, you possess no way to know if your influencer marketing campaign is worth the time, money, and effort that you put into it.
GOA-TECH is a comprehensive IT, web design, advertising, and digital marketing firm in the South Florida community. We want to help you with your next influencer marketing campaign. To learn more about what our company can do for you, contact our staff today!