By: Courtney Gibb
“If a tree falls in a forest and no one is around to hear it, does it make a sound?”
We’ve all heard that philosophical thought experiment before. But how does questioning our knowledge of reality relate to influencer marketing? Bear with me here.
“If a digital marketing campaign isn’t tracked or measured, did it make an impact?”
Key performance indicators (KPIs) are incredibly valuable. Otherwise, how are we as marketers able to prove that a campaign was worth anything? What demonstrates the tangible power of marketing within a company? If there’s no measured reach or relevancy; if the social impact is nonexistent, your campaign may as well be a silent tree falling in the forgotten forest behind Google’s seventh hundred page.
I know, I know – we’re in this for the creativity, the engagement! Numbers? No thanks. But, it really is critical to track and analyze specific KPIs from the beginning of your influencer marketing campaign. Setting goals for each measurement will give you an idea of current and future digital reach, as well as projected success. These goals can be as simple as increasing follower count or engagement on certain social networks, or as expansive as utilizing influencers to improve overall brand sentiment and awareness.
With more than 10,000 influencer marketing campaigns under our belt, the Find Your Influencer (FYI) team has seen quite the assortment of objectives and outcomes. And one truth has remained throughout: Campaigns are more powerful when they have planned, measurable metrics behind them to evaluate impact and shape strategy.
If you’re ready to measure success but are unsure of where to start, here are a few common metrics used to calculate the value of influencer marketing campaigns.
- Cost per impression
- Return on investment (ROI)
- Blog views and engagement
- URL clicks
- Social media likes, comments or shares
How do you set goals to measure success? Share your secrets with us! And don’t forget to check out the rest of our influencer marketing best practices here.