Managing an influencer campaign on your own can be immensely handful and trust us, we know! When there is so much to do, evaluating the campaign’s performance just adds to the pile of things.
Enough with the worry, dearest reader, because we have something in a store that is gonna help make things a lot easier for you. We have compiled a list of Key Performance Indicators (KPIs) for you to track the performance and get Influencer Marketing Success with KPI’s, easily tackling all loops you might encounter.
Why use KPIs?
These KPIs help establish industry benchmarks from past campaigns, give a detailed account of a campaign’s measurement details, and help tackle issues such as fake followers, engagement, and sales problems that might arise during the campaign.
These KPIs help you determine which influencer contributed to your campaign and how. Knowing this enables you to figure out which influencer is an asset to your campaign and brand and has the potential for future campaigns. The details collected from the indicators also help you understand what the audience out there needs, which lays out a rough list of “dos and don’ts” for you.
How Frequently Should Marketers Modify Their Influencer Marketing KPIs?
Marketers should adjust their influencer marketing KPIs on a regular basis to ensure that they are aligned with their business goals and the changing market conditions. The frequency of adjustments will depend on several factors, such as the length of the campaign, the size of the budget, and the rate of change in the industry. For example, if the campaign is short and the budget is small, it may be necessary to adjust the KPIs more frequently to ensure that the campaign is on track. On the other hand, if the campaign is longer and the budget is larger, adjustments may be made less frequently.
It’s important for marketers to regularly review their KPIs and adjust them as needed to ensure that they are measuring the right things and that they are aligned with the overall goals of the campaign. This can involve making changes to the metrics being tracked, adjusting the targets for each metric, or re-evaluating the weighting of each metric. Regular adjustments can help marketers to stay agile and respond to changing market conditions and campaign performance, ultimately leading to more successful influencer marketing campaigns.
Influencer Marketing Success with KPI’s
Brand awareness
If the campaign focuses on generating brand awareness, then the things to be evaluated are audience growth, impressions and reach of the influencer. Specific campaigns that require brand awareness to measure their performance focus on the growth rate of followers of the profile through which the campaign is being marketed.
The impressions and reach show the superficial engagement of the campaign post, which provides a rough idea of how many people have engaged with it, further giving an estimate of people who’d be aware of the brand’s existence if not its exact details.
Social Engagement
Social engagement is a step ahead of brand awareness which monitors the active engagement with a post or an influencer by measuring likes, comments, and views received on it.
Engagement often becomes more significant than the number of followers in influencer marketing because it is more necessary to have more people engage with the campaign posts than followers. If the engagement is more petite, the audience isn’t interested in the kind of content being promoted; can shift the engagement rate.
The standard engagement rate is 1.60%, and in order to find out your engagement rate, all you need is to divide the total number of your likes and comments by the number of followers and multiply it by 100.
Influencer Examination
One of the most crucial performance indicators is the influencer engaging in influencer marketing. The brand needs to investigate the follower count and demographic of the influencer along with the average engagement rate, frequency of posts posted and content shared.
The collection of all this data makes the campaign more efficient and successful as it becomes easier to select the right influencer with the right audience for the right campaign that meets the brand’s requirements.
Click-through rates
Popularly known as CTR is important for Influencer Marketing Success with KPI’s. The Click-Through Rates help figure out the number of times a person clicks on a lick and allow tracking the individual performance of influencers through the custom links.
By measuring CTR, the campaign’s efficiency can be easily determined. A high CTR indicates a well-organised execution, whereas a low CTR indicates the opposite. The key elements that play a role in these rates are target groups and the call to action.
Referral Traffic
Similar to the previously mentioned indicator, Referral traffic simply refers to the number of people who check your page, which could be the website or the profile. This number can be tracked through certain custom links.
This enables finding out the individual performance of influencers involved in the campaign to generate awareness and marketing. Higher traffic from one influencer indicates efficient performance.
The traffic can be directed towards a particular page and be easily traced by using a specific code. Advanced features go as far as to help you show things like how many times an item was purchased so that you can make the best of all the details out there.
Sales
Those sign-ups, downloads, subscriptions or product sales are all indicative of sales, the one thing that drives your influencer marketing campaign in the first place.
Sales are one of the key indicators to measure the performance of your influencer marketing campaign. If the sales have increased, that means that the performance of the campaigns is going in the right direction, and if it’s the opposite, there is something wrong.
You don’t have to worry about your campaigns going in the wrong direction, not when you are working with Wobb, because our team of experienced professionals won’t let that happen to your campaigns. After all, ways to be successful with your influencer marketing campaigns are to change content, mediums based on the observations, and working with Wobb! We are aware of what you and your brand want, and we make it happen and trust us when we tell you that the performance only goes up with us.
