Ep 2: Establish KPIs for Influencer Marketing based on your goals
Brand Awareness Or Direct Response Goals For The Campaign Use
One of the most important steps in launching an influencer marketing campaign is deciding on your goals. The way you measure results will be influenced by your objectives. The results of campaigns are an important part of calculating ROI’s “return.”
The key performance indicators (KPIs) for your influencer marketing campaign are determined by your overall goal. An influencer marketing campaign’s goals can be divided into two categories: brand awareness and direct response.
BRAND AWARENESS: MARKETING GOALS AND KPIS FOR INFLUENCERS
The ease with which customers recognize your brand is reflected in brand awareness. It is sometimes more difficult to track than direct response campaigns. This is because quantifying brand sentiment and brand lift is difficult. Many businesses hire expensive branding agencies and conduct surveys to capture “brand awareness.”
- Metrics for Measuring Brand Awareness: Influencer Marketing Followers, Subscribers, and Social Media Impressions
- Engagement can be defined as likes, comments, sentiment, shares, and mentions.
- Coverage in the press, media mentions, and website traffic
Social Media Followers and Subscribers
A social media following is the number of followers an influencer has across all of their social media channels. Total an influencer’s Instagram followers and YouTube subscribers if they share sponsored posts on both their Instagram and YouTube channels.
Impressions The number of people who have seen a social post is referred to as its impressions. Impressions are an important metric for determining a campaign’s reach and a preferred method of measuring social reach over “following.” You can view impressions on the native analytics platforms for each social media channel (i.e review Instagram Insights)
Engagement
The engagement rate measures the audience’s interaction with a social media post. The level of engagement indicates how well an audience responds to a post. The following are the key performance indicators (KPIs) for social media engagement:
Favorites
On social media platforms, a “like” is a virtual thumbs up. A popular photo or video not only conveys respect among users, but it also influences the algorithms of some social platforms, increasing the post’s visibility. The more likes an Instagram photo receives, for example, the higher it will appear in users’ Instagram feeds.
“Likes” are referred to in slightly different ways on different channels. Likes on Instagram, for example, are represented by a double-tap heart, whereas likes on YouTube are represented by a “thumbs up.”
Dislikings
Posts on YouTube and Facebook can be disliked by users. Viewers on YouTube can “thumbs down” videos, and Facebook users can respond to posts with rage or sadness. Which posts are popular with users will be indicated by the ratio of Likes to Dislikes.
Social Attitudes and Reactions
Written responses to a social media post are referred to as “comments.” Users who leave a comment show a strong interest in a post.
Statements speak to the popularity of the post, especially when commenters start a discussion about its content.
Comments are an excellent way to understand user reactions to social media content, as well as a valuable qualitative metric. To gauge social media sentiment, read the actual content of comments.
The following are examples of how positive social sentiment manifests itself:
Enthusiasm for your product, especially indications of purchase intent (e.g., “NEED those metallic sandals!”).
- Emojis that make you happy
- Several people have been tagged.
- Branded hashtags are used.
- Mentioning your brand, primarily conversing, responding to questions, or enquiring
- Compliments on the content (such as “Really creative photography!”)
- Shares When a user shares a social media post, they are explicitly endorsing that content.
Shares expose the content to new audiences who may not have seen the original post. Each social media platform has its own set of sharing options:
- Instagram: To share your feed in the traditional sense, you’ll need to use a “repost” app or a screenshot (the best way to track is by reviewing your brand mentions on Instagram). Sharing on Facebook displays the post on your personal Facebook timeline.
- Twitter: When you retweet a tweet, it appears in your Twitter feed.
- Pinterest: Repinning a Pin adds it to the board of your choice on Pinterest. Because they are off-platform and difficult to track, shares are not recommended KPIs for YouTube and Twitch.
Increased Number of Followers
The goal of your brand’s influencer marketing campaign may be to increase your own social media following.
Track the average follower growth in the months preceding an influencer activation as a baseline to differentiate organic follower growth from followers who discovered your brand via an influencer.
Mentions and Hashtags
A social media mention occurs when a user mentions your brand by name on social media (for example, @dreamsnama). Furthermore, users will include brand hashtags in their posts. Both hashtags and mentions show a high level of brand affinity and social alignment.
In general, mentions increasing the exposure of your brand, whereas hashtags help spread the word about a specific marketing campaign.
Dark Social, also known as DMs, is a type of social networking site.
The term “dark social” refers to private social media interactions that are visible only to the account holder and user. Direct messaging, for example, is a private form of communication. As a result, only the sender and recipient can see the contents of a message.
- Dark social metrics will reveal when a user saves or favorites a social post.
- Direct messaging is used to share social content.
- Emails the link to the social media post
DIRECT RESPONSE INFLUENCER MARKETING GOALS AND KPIs
A user’s direct response is a specific action taken in response to a campaign. A clear call to action prompts the user to take action in a sponsored social media post for influencer marketing.
KPIs for Influencer Marketing Metrics for Measuring Direct Response Awareness
If the direct response is the goal, KPIs may include sales, downloads, or signups, depending on the product or service.
Product purchases are the gold standard for measuring return. Product sales can be studied in greater depth by focusing on specific metrics such as revenue, average order value, or cost-per-acquisition.
Registrations
Customer signs up when they submit their information to
- Subscribe to a newsletter or purchase a product (e.g., start a beauty box subscription)
- Make an account (e.g., join the Starbucks Reward Program)
- Join us today! (e.g., enlist in the ACLU)
Rate of Click-Through (CTR)
The term “click-through” or “click-through rate” (CTR) refers to the number of times a consumer clicks on a suggested link in a promotional post. These clicks will take the user to a specific URL (such as a landing page or product page) where they will be asked to convert.
Downloads
Digital products such as apps, software, ebooks, and whitepapers are examples of downloads. Download transactions are common key performance indicators (KPIs) for mobile games and B2B companies.
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