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Return on investment is a key metric for measuring the effectiveness of any marketing campaign. With so many different digital marketing channels available, it can be tricky to measure ROI across all of them. Influencer marketing is no different. It’s an effective way to reach your target audience and drive brand awareness, but it doesn’t come cheap. You need to know if the monetary and time investments are worthwhile or not. With the right influencer strategy, your brand can see an increase in website traffic, sales leads, and views of branded content—all of which directly impact ROI from an influencer marketing campaign. Read on to learn how you can measure ROI from your influencer strategy.
Measure ROI with Influencer Content Measurement
When measuring ROI on an influencer marketing campaign, the first thing you need to do is measure the content. This means taking inventory of the type of branded content your influencers are producing and the number of posts they’ve published. How many blogs, videos, social media posts, and images with branded content are your influencers creating? How often are they publishing? What types of content are they producing? By taking inventory of the type of branded content your influencers are creating, you’ll be able to measure the effectiveness of your strategy. For example, if your brand is promoting a new product or a new feature, you’ll want to have multiple pieces of content in the works. Having multiple pieces of content will help you spread out your spending with influencers. It’ll also enable you to increase the longevity of your campaign. By taking inventory of the type of branded content that your influencers are creating, you can measure the effectiveness of your strategy.
Measure ROI with Brand Tracking
Beyond just taking inventory of the number of posts your influencers are publishing, you also need to track how many people are engaging with your brand. To do this, you can use a Google Analytics for Brands report to track how many people are clicking on your website domain name. Or, if you’re tracking social media engagement, you can use a social listening tool to track how many people are engaging with your branded content. You’ll want to track how many people are clicking on your website domain name or the social media posts that your influencers are publishing. You can then use this data to calculate ROI from an influencer marketing campaign. Keep in mind that tracking brand engagement isn’t the same as tracking leads or sales. You’re simply tracking how many people are clicking on your domain name or engaging with your branded content. However, those numbers are useful to know. They can be used to measure the effectiveness of your strategy.
Measure ROI with Campaign Tracking
In addition to tracking your brand engagement, you’ll also want to track the number of leads and sales your influencers are driving. There are a few different ways to do this. You can use a lead magnet to track how many leads are coming in from your influencers. Or, you can use a URL shortener to track how many sales are coming in from your influencers. Using a lead magnet, like a free white paper or eBook, or an affiliate link in your influencer posts will help you track the number of leads that are coming in from your influencer marketing campaign. You can use a URL shortener to track the number of sales that are coming in from your influencers. This will enable you to measure the effectiveness of your influencer strategy.
Bottom line: Don’t just rely on one measurement
When you’re measuring the effectiveness of your influencer marketing campaign, you don’t want to just rely on one metric. You want to look at multiple metrics to get a better picture of how your strategy is performing. By taking inventory of the type of branded content your influencers are creating, tracking your brand engagement, and tracking the number of leads and sales coming in from your influencers, you’ll have a better idea of how your strategy is performing. This will enable you to adjust your strategy as needed and know if the monetary and time investments are worthwhile.
Conclusion
With the right influencer strategy, your brand can see an increase in website traffic, sales leads, and views of branded content—all of which directly impact ROI from an influencer marketing campaign. Read on to learn how you can measure ROI from your influencer strategy. With the right measurement tools, you can track how your influencers are performing and see what areas you need to improve on.
