Influencers are a modern-day phenomenon that has taken the digital world by storm. Such is their success and reach that they are now headhunted by brands of all sizes and backgrounds for their marketing campaigns. However, the sheer number of influencers on today’s social media landscape makes finding the right one for your brand, quite a challenge. Thankfully, there are useful metrics, called KPIs, that will greatly help you make the right decision. Let us go through some of the most important ones.
Brand Awareness
Pretty self-explanatory, brand awareness, refers to the number of users that recognise your brand name, therefore it is easy to surmise that this one goes straight to the top of influencer KPIs to keep track of.
ROI (Return on Investment)
ROI is the metric that will affect board meetings the most, as it measures the effectiveness of an influencer campaign. Essentially, ROI measures the amount of value your brand gets from investing in a certain influencer.
Audience Growth
An important metric that quantifies the impact a marketing campaign has had on your online followership. The more, the merrier, right?
Conversions
Increasing your followership and reach is, of course, important, but at the end of the day, in business the most important factor is sales. Conversions refer to the number of users that went from followers or viewers to active customers. Understandably, this is a crucial KPI you need to be aware of.
Engagement
This KPI measures how active your followership is with your content. This is calculated based on the interactive engagement your audience shows in the form of shares, likes, etc. An engaged viewer is more likely to convert than an idle viewer.
Traffic
Traffic refers to the number of unique visitors to your account or website. More visits mean more exposure, and subsequently more opportunities to gain new customers. If the ratio of visitors to conversions is off, it may be time to change something about the way you present your brand online.
Brand Sentiment
A less quantifiable metric that gives you a clear image of how your followers feel about your brand. Based on comments and reactions, you can tell whether your brand is loved or hated, or even worse, ignored by the general public.
CTRs
CTR, or click-through rate, counts the number of times a link has been clicked on. It offers an indicative picture of how effective your campaign is, and how appealing it is to followers. A clear CTA (call to action) goes a long way to improving your overall click-through rate.
Conclusion
While influencer marketing can be a lucrative affair, it is not as simple as just employing a familiar face for your campaign. It is imperative that you conduct research prior to the appointment, as well as to keep track of the progress afterwards.
Good luck!