The sudden increase of social media users birthed the rise of many social media influencers. With so many online platforms these famous people can market their content to their fans anytime and anywhere around the world through the internet, 89% of marketers say influencer marketing ROI is as good or better than other marketing channels. Unsurprisingly, influencer marketing has been around since the late 1800s or previously known as ‘word-of-mouth’ and it only recently became a crucial strategy in digital marketing as new trends in technology evolve.
With the growing number of influencers who are popular on platforms like Facebook, Instagram, blogs and other social channels, digital marketers who aim for a successful and comprehensive strategy to grow a business cannot stand idly by without measuring the success rate of one influencer. We call it Key Performance Indicators or KPI, tracking an influencer’s KPI would help any business of any size to create an effective campaign plan strategy to market their products into a saturated marketplace.
Here are some of the KPI you may consider observing with your potential influencer to have a solid basis for your next marketing plan:
- Conversions – sales and growth is the essence of marketing. You have to track sales before, during, and after the campaign to have a comparison if changes in sales were impacted by the involvement of an influencer in your marketing strategy. This will help you identify if your influencer helped you increase online traffic or grow engagements. Conversions don’t always equate to sales. This can vary depending on what your business is trying to market like a prospect completes a desired action, that counts as a conversion like signing up for a newsletter, downloading an ebook, clicking on a link, or anything else that you want your prospects to do.
- Referral Traffic – like what was stated above, traffic is also an important factor to monitor in your KPI. The reason for this is that referral traffic will give you an idea of the campaign’s reach if you manage to conduct a properly optimized conversation focused campaign. If there are many people who can engage with your online content, and they are targeted and communicated with, and followed up with, it can be a successfully optimised campaign.
- Reach and Awareness – of course aside from gaining sales and traffic, the ultimate factor to track influencers KPI is they are able to help your business increase the visibility of your brand, which is necessary to boost brand awareness and build new relationships with your target market.