Easy ways to measure influencer marketing success

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In recent years, social media has played a huge role in marketing. Many businesses have successfully used influencer marketing to promote their products and services, increase brand awareness, and connect with potential customers.

Studies estimated that U.S. marketers would spend more than $4 billion on influencer marketing in 2022.

Measuring the success of a campaign can be difficult. However, there are a few easy ways to measure influencer marketing campaigns. But first, let’s see what influencer marketing is and why we need to measure its success.

What is influencer marketing?

Influencer marketing is a form of marketing that focuses on using key individuals, called influencers, to increase sales and brand awareness.

These leaders can be anyone from celebrities and athletes to bloggers and journalists. Influencers with their large group of followers on social media platforms and other channels, and with their high levels of trust, can significantly impact their audiences’ buying decisions.

As many brands collaborate with various Instagram influencers, they need a vivid marketing plan to make a better influencer marketing measurement.

On the other side, influencers should learn how to succeed without Instagram likes and showcase their different marketing efforts to drive more brand engagement and reach.

Influencers’ success relies on marketing knowledge, including using Instagram features and updates, and high-quality content creation. The winner is the influencers who know how to keep their accounts interactive despite Instagram’s significant changes. Marketers want to partner with an influencer who is more flexible toward Instagram’s limitations and rules.

This article points out different types of influencer marketing metrics that help brands, and marketers measure influencer marketing success.

How to measure influencer marketing success?

As a brand, there are several significant marketing Key Performance Indicators (KPIs), such as reach and engagement, to assess your business success when partnering with influencers. Many brands will fail on social media marketing if they ignore measuring influencer marketing success. 

In the long run, you can save money and time, and achieve some fresh ideas and strategies for your upcoming marketing campaigns that would really make sense for your brand.

Set specific influencer marketing goals

Measuring the success of your influencer marketing campaigns is essential for determining their effectiveness and future success.

Setting specific goals will help you track and measure influencer marketing campaigns’ success more effectively. It is highly crucial to set smart goals for your campaign, which means choosing realistic, attainable, measurable, and time-based goals.

Some goals you may want to consider include increasing brand awareness, driving website traffic, increasing leads or sales, or building social media followers.

Accordingly, you’ll need to track various metrics for your marketing measurement, including impressions, engagements, clicks, leads generated, and sales generated depending on your business goals.

Check KPIs for influencer marketing campaigns

When it comes to influencer marketing, what gets measured gets improved. This means that in order to gauge the success of an influencer marketing campaign, you need to track key performance indicators.

You need to determine your overall goals to understand your KPIs for marketing.

By tracking important KPIs, you can easily measure influencer marketing campaigns’ success and get a better understanding of whether or not your campaigns are successful, and then make adjustments accordingly.

Here we discuss some of the top KPIs to help you measure influencer marketing campaigns.

KPIs for measuring influencer marketing

1- Content quality

Instagram influencer marketing tips on measuring marketing success start with content quality. As content is everything that encourages people to fall in love with your social media account and take action, it is the most common reason brands value your account.

Authentic engagement and high reach come from a great content strategy, and nothing like checking social media content can calculate influencer marketing success. Influencers’ content is the soul of their professional social media account that can engage a wide range of users.

So, by measuring content quality, you can easily figure out which styles and types of content bring you your ideal response from your audience.

2- Reach

In influencer marketing measurement, social media reach is one of the other fundamental KPIs, which shows how many people viewed posts and content.

Keep in mind that the aim of brands in measuring marketing success is the organic reach, not the reach you gain by using paid promotional tools.

A great influencer knows how to grow the organic reach with the proper content.

3- Engagement

When you want to measure the success of influencer marketing campaigns, there are several factors that need to be considered. Engagement is one of the most important metrics to track, as it comes from compelling, genuine content and interaction with the audience.

It can indicate how much interest potential customers have in a brand or product and how much they care about the content.

Engagement is simply defined as the number of interactions (likes, shares, and comments) a post receives. The higher the engagement rate, the better the campaign is performing. This can be measured by looking at each post or averaging all posts’ engagement rates.

One way to increase Instagram engagement is to ensure that your content is relevant to your audience.

4- Conversion rates

There is no definite answer to how to measure influencer marketing success. However, another key metric is conversion rates: the percentage of people who take the desired action after being exposed to your marketing content.

Measuring conversion rates can help you determine whether or not your influencer marketing efforts effectively drive people to your product or service.

There are various ways to measure conversion rates, depending on what type of information you have about your customers. For example, if you know the email addresses of people who have purchased from you, you can track how many of those addresses were also included in the list of email addresses that were supplied to an influencer.

Alternatively, suppose you don’t have customer contact information. In that case, you can track how many people clicked on the affiliate link, or used the unique promotion code in an influencer’s post about your product. Then, you can determine the effectiveness of your social media influencer campaign.

5- Influencer marketing ROI

Return on investment (ROI) shows you how successful your influencer marketing campaigns were in achieving their objectives.

By measuring influencer marketing ROI, you can determine how much value you are getting for the amount of money you pay to influencers.

Although measuring your influencer marketing ROI depends on your campaign’s specific goals and objectives, in general, you just need to divide the total profits generated from your marketing efforts by the total influencer marketing costs and multiply the answer by 100 to calculate your ROI percentage.

Use an Influencer tracking platform to measure influencers

One way that helps you measure influencer marketing campaigns’ success is to use an influencer tracking platform. An influencer marketing platform can help you estimate the reach and engagement of your influencers. It can also help you identify which influencers are the best for your brand.

Ainfluencer

Ainfluencer is a free marketing platform that helps you find Instagram influencers most related to your niche. All influencers are analyzed and scored, and you can see their quality score and engagement rate below their names.

You can also see what influencers delivered to their previous deals and how they changed other brands. Then, based on that information, you can choose the best option for your brand.

Moreover, Ainfluencer is somehow an Instagram influencer pricing calculator, as it gives you an estimated suggested price for a feed post for each influencer.

Ainfluencer's features

Conclusion

In conclusion, there are a few ways to measure influencer marketing campaigns’ success. By tracking content quality, social media engagement, reach, conversion rates, and influencer marketing ROI, you can get a good idea of how well your campaign is performing.

Do not forget to use tracking platforms, such as Ainfluencer, to define which influencers have the most traffic and engagement, and are the best option for your marketing campaigns.

How do you track influencer marketing ROI?

Although measuring your influencer marketing ROI depends on your campaign’s specific goals and objectives, in general, you just need to divide the total profits generated from your marketing efforts by the total influencer marketing costs and multiply the answer by 100 to calculate your ROI percentage.

What are KPIs for influencer marketing?

1.    Content quality
2.    Engagement
3.    Reach
4.    Conversion rates
5.    Influencer marketing ROI

How do you measure effectiveness of influencer marketing?

1.    Setting specific influencer marketing goals
2.    Checking KPIs for influencer marketing campaigns
3.    Using an Influencer tracking platform to measure influencers

Maryam Shirvani

Maryam is a content writer at Ainfluencer. Through writing, she tries to provide you with the right solutions and the information you're looking for.