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How To Measure Influencer Marketing ROI on Instagram

Btw, have you ever asked yourself if your Instagram is worth growing? If not, you should. It might help you save a whole lot of time and energy.

The Essentials.

  1. An Instagram Business account. Without one, you won’t have access to your Instagram Insights data and won’t be able to measure your ROI properly.
  2. The Dollar Amount Spent Generating The Influencer’s Promotion. In other words, you should know the cost of either paying for an influencer to promote you or the costs of gifting the influencer to promote you (or both). By knowing the dollar amount, you’ll be able to compare the return on your Influencer Marketing activities to all other Marketing activities you embark in, and know which is more effective.

Profile Visits Per Dollar

In other words, you’re measuring how many additional profiles visits you’re generating per dollar because of the influencer’s promotion.

New Followers Per Dollar

  • Average Number Of New Daily Followers: You calculate it by dividing the new followers gained in the past week (you find that through the Audience tab in your Instagram Insights) by 7.
  • New Followers From Promotion: This is the total number of new followers gained in the three days after the influencer promoted you (you’ll get 90% of the new followers gained in the lifetime of the promotion within 3 days of it going live). Since Instagram Insights doesn’t give you daily follower numbers, you can find that number by using a third party tool like Social Blade and just adding the total followers gained in the three days after the influencer promoted. Once you have that number, you subtract from it the Average Number Of New Daily Followers you already calculated, multiplied by three.

Website Traffic Per Dollar

  • Average Daily Website Sessions: You calculate that by finding the total number of websites sessions in the past week (you can usually find that in the analytics section of any e-commerce or website provider. I’m using my Shopify as an example) and dividing that by 7.
  • New Website Sessions From Promotion: This is the total number of new website sessions in the three days after the influencer promoted you (you’ll get 90% of the new website traffic in the lifetime of the promotion within 3 days of it going live). You can find that by filtering your website analytics to the three days after the promo and noting how many store visits total you received for those days. From that number, you subtract your Average Daily Website Sessions multiplied by three and you get the New Website Sessions From Promotion.

Sales (or downloads, or newsletter signups, etc) per dollar

  • Average Daily Sales: You calculate that by finding the total number of Sales in the past week (you can usually find that in the analytics section of any e-commerce or website provider. I’m using my Shopify as an example) and dividing that by 7.
  • New Sales From Promotion: This is the total number of new sales in the three days after the influencer promoted you (you’ll get 90% of the new sales in the lifetime of the promotion within 3 days of it going live). You can find that by filtering your website analytics to the three days after the promo and noting how many sales you received for those days. From that number, you subtract your Average Daily Sales multiplied by three and you get the New Sales From Promotion.

Use your ROI data!

If you know which influencers and what type of campaigns gave you the highest returns, you’re much more likely to be able to execute better, more effective, campaigns in the future.

Thanks so much for taking the time to read my article! If you enjoyed it, you can support me by signing up to my Instagram Small Business class, sharing this article and giving it a bunch of claps. You can also follow me on Instagram to get updates whenever I publish a new piece ❤

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Eduardo Morales

@pinlord 📌 @potteryforall 🌱 & @macramemakers 🍶on Instagram. Demystifying how Instagram works👌🏽 Follow for updates: https://instagram.com/theeduardomorales