KPIs (key performance indicators) should be a part of any influencer marketing plan from the start. Choosing KPIs for influencer marketing that is linked with your goals can help you assess the campaign’s success and calculate your total ROI. To truly measure the efficacy of your campaign, you should look beyond vanity metrics and look at conversions and transactions. This blog will go over the KPIs you’ll need to track your campaigns’ reach, engagement, and conversions. Let’s get started.
Influencer Marketing KPIs (Key Performance Indicators): The most important key indicators are described in the following sections.
- Traffic Generation: Attracting the audience and driving more traffic to the website is the major goal of any influencer marketing strategy. New website visits, repeat visitors to the same website, time spent on the page, and other KPIs may be significant in this situation. The best way to track website traffic is to use tools like Google Analytics. It can be used to measure the following date ranges:
- The number of new users: It is possible to count the number of new users who visit the website for the first time. This is also a statistic for determining whether brand awareness is increasing.
- The number of sessions: This metric can be used to find out how many sessions were logged on the website over a given time period.
- Time spent on the site: This is a tally of how much time people have spent on average on the website.
- Page views: Page views are a count of how many pages were viewed in a given amount of time. This is a report that shows which pages people spend the most time on.
- User Engagement metrics: Engagement KPIs are similar to social media KPIs, only they focus on the level of influence a single post has created rather than new followers. The more likes, shares, and comments a post receives, the better the level of engagement and brand recognition.
- Clicks: This graph illustrates the level of interest of the target audience. The greater the amount of clicks, the more interested the audience is in that certain piece of content.
- Likes: Likes are a measure that indicates how much the audience like the content. Likes can also be used to measure someone’s level of interest.
- Shares: Shares are a metric for determining the quality of a piece of material.
- Conversion rates: The process of converting visitors into customers is referred to as conversion rates. Marketers can use conversion KPIs to find out how many people bought something as a result of influencer marketing. One way to keep track of this is to provide each influencer with a discount code that they may distribute to their followers. Calculating the number of times the coupons were used during the checkout process will help you figure out how many conversions that influencer generated. Lead generation and conversion rates grow as a result of greater brand visibility and audience engagement. The followings are the few tactics you can employ when working with influencers.
- Promo codes: each influencer should have their own code to make tracking easier.
- Affiliate links: Affiliate links are used to track how much money each influencer brings in.
- UTM links: UTM links are used to make trackable URLs that are unique.
- ROI: Return on investment or ROI is the next important metric to monitor. Influencer marketing may surely assist a firm in gaining a huge following; however, KPIs to track ROI is essential for organizations that need to generate large quantities of sales through influencer marketing. The following are the most important metrics to consider while determining ROI:
- Objective: The objectives of the campaign should be determined ahead of time so that marketing efforts can be changed accordingly.
- Budget: Brands must disclose a detailed budget breakdown of their influencer marketing spending.
- Cost-benefit analysis: Keeping track of how much money is spent on influencer marketing allows businesses to analyze how much money is made versus how much money is spent.
Final Thoughts: KPIs for influencer marketing is vital since they keep the end goal in mind when making decisions. It’s critical that business objectives are well communicated throughout an organization so that everyone is aware of and accountable for their own KPIs. If you want to learn more about influencer marketing, you can always learn for free on youtube. There are thousands of influencer marketing tutorials on YouTube. Use Career Ninja‘s LearnTube for hand-holding training on YouTube. Learn Tube organizes the results of your YouTube search into a course framework. If you want to learn “influencer marketing tutorials”, search the term on LearnTube and it will show you a bunch of youtube videos like an online course. As a beginner, you’ll click through the videos from the first to the last, as if you were taking an online course tailored specifically for you.
