Social influencers are one of the most effective marketing tools that businesses can leverage to increase customer awareness and loyalty. Most consumers trust a person to be more influential than traditional advertising. While it’s easy to see how this modernized oral marketing tactic can increase the number of people you reach, it’s not always clear that your return on investment. Because influencer marketing doesn’t always lead to direct sales conversions, you may need to try other tactics to measure your ROI.
Here we will introduce to you 7 ways to track the amount of ROI for Influencer marketing.
1. Use Tracked Link
It is imperative to work with influencers to have a strong tracking mechanism. Ask influencers to use the tracked link so you can measure traffic, interaction and, ideally, conversions on your website. If influencers are very careful when using tracking links, it could be an indication that they are not best suited to your needs.
2. Create a Branded landing page
You must tie your influential campaign to a branded landing page to measure that influencer’s ROI. Influencers can have as many free rights as you will allow, as long as they push their audience where you want them. As a brand on your landing page, you can encourage users and capture their prospects’ information about future measurement and contact data.
3. Attach Influencer activities to performance channels
Enabling distribution will add performance to channels like SEO, generate traffic and link quality to valuable sections of your website. Map ahead some of the keyword goals that you wish to improve visibility as a result of partnership. SEO tends to be the most effective conversion channel, so make sure your influencer marketing efforts are benefiting that channel.
4. Understand your Engagement stat
Measuring influencer marketing campaign engagement goals is a good sign of your brand’s awareness, loyalty, audience activity and ROI. Besides, interactive metrics like views, clicks, likes, shares and mentions can be measured, which addresses the amount of CPE or cost per interaction.
5. Review Social Media Analytics and Referrals
One of the easiest metrics to track when using an influencer is social interaction. Follow your social accounts for changes in your total followers and new likes. At the same time, track your website traffic to increase or decrease website visits from social networks. Is there a sudden increase in suitability for influencer activities? Do you see an increase in revenue directly tracking their activity?
6. Review the overall Earned Media value
Partner with organic influencers, where you can all benefit from engaging in social media. If possible, add journalism tactics to the campaign to enhance editing. Then look at the combination of engagement, website traffic, hashtags, influencer-linked URLs, and editorial metrics to find out the value of the means earned. Fan comments also provide anecdotal details.
7. Use Influencers to reach appropriate target groups
The true value of influencer marketing lies in being able to deliver a more meaningful message to the appropriate groups in your target audience. Crafting very clear messages for each group and the clear role for brands in their lifestyle can go extremely long. This can help build brand relationships between micro audiences that may have previously deleted the message of your mass market.
With the 7 ways we have introduced above, hope you can find yourself how to track your ROI in the most accurate and timely manner. Good luck!