How to measure the success of influencer marketing
Influence marketing is a powerful online marketing strategy in today’s marketing era. Around 90% of digital marketing professionals consider this strategy as an effective way to create brand awareness and this is why it has global acclaim. But, this is not as easy as you think. This is not just about choosing an influencer, throwing content on social media platforms and hoping for sales.
Influencer marketing campaign should be backed by measured results and solid data. If you can combine these two factors, you can expect to get an effective result from this. But how can you assess you will get the value for money when it comes to influencer marketing?
Well, let’s find this matter in detail so that you can make an informed decision. Here are the three most important objectives depending on which brands measure the success of influencer marketing. So, without wasting much time, let’s study them in detail –
Three important objectives for measuring the success of influencer marketing are as follows –
- Content quality
- Follower reach
Engagement on social media platforms like Instagram creates the majority of the follower base. Most of the brands consider Instagram influencers as this helps them to calculate the success rate of an influencer. Social media sites like Facebook, Twitter, Instagram get higher organic traffic than the rest. The higher the level of organic traffic, the greater will be the level of engagement and eventually, you can expect better ROI.
But how can you measure the level of engagement? Well, it is quite easy and simple. Engagement percentage is calculated in terms of the number of comments and likes a post obtains from the followers. After that divide, this number by the number of followers the influencer has in his account. Another way of measuring an influencer’s engagement is through cost per engagement. It is all about how much you are paying per like and comment on a post which clearly features your brand, products or services. However, you need to keep in mind that CPE varies as per the category.
Without any doubt, it can be said that content quality is the most common factor behind a brand’s popularity. By paying a few bucks, you will not only get the engagement of an influencer’s post but also you will also get the photographer and talent all under one roof. Moreover, you can report a piece of content on social media platforms once it is published. This means you can use it for additional advertising at free of cost.
But before you assess the engagement level of an influencer, it is vital to compare the content in terms of cost and money. If you can do it successfully, all scenes related to the success of influencer marketing will up. Always remember one thing that only with influencers content, you can turn your existing customers into professional content creators.
Most of the brands require a valuable metrics for comparison across all social media platforms. Using cost per thousand (CPM) formula, you can easily understand what value is. While CPM is applied to the follower base, the organic traffic to social media posts is hugely get affected by different algorithms which make it difficult to predict the success rate of influence marketing.
Being able to measure the success rate of influencer marketing, you can better optimize your business strategy and therefore, can bring your business to the next level through influencer marketing campaigns.