Best Practices for Measuring Your Social Influencer Program
Influencers are an essential link between conversations and conversions, especially for brands in crowded, competitive spaces. They give your brand authentic appeal, help you connect to your target audience(s) more easily and robustly, widen your net of brand awareness, and ultimately help you drive more sales.
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Here’s how you should keep track of the ROI generated from your influencer program, no matter which social channels you’re focused on.
Track Promo Codes
Your influencer marketing campaign may involve promoting discounts or limited-time offers through influencers. You can track the performance of these campaigns by using custom promo codes, unique to each influencer.
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Ideally, these promo codes should contain the name, username, or handle of each influencer. Using these codes, you can track how many people took advantage of the offer, thereby helping you track the conversion rate. You can also track the individual performance of each influencer, just like with the custom URLs.
Track Custom URLs
And speaking of custom URLs…instead of having all your influencers promote one link (which is also a viable option, as long as the link is to a specific campaign, i.e., simplymeasured.com/specificcampaign, but will offer you less insight into the value of specific influencers), create a custom link for each influencer. The link should include their name or handle, so it’s easy to remember.
These custom URLs can help you track the conversions resulting from your influencer marketing campaign. They can also help you track the individual performance of each influencer. You can then run a more effective campaign by focusing your efforts on the high-converting influencers.
Track Engagement on Owned Content
One way to measure the efficacy of your influencer campaign is to track engagement growth on your owned content which includes influencer content vs. owned content which doesn’t mention/include influencers.
Like the UA Threadborne Slingflex, @bharper3407 defies convention.
— Under Armour (@UnderArmour) February 7, 2017
You can track this engagement specific channel by specific channel, or in total across all the channels you operate influencer campaigns on.
Track Engagement on Influencer Channel Content
Another way to measure the ROI of your influencer campaign is to track how much engagement your influencer’s posts involving your brand generate now, and how much this engagement grows over time or even during the course of one campaign.
How do influencer posts talking about your brand measure up against influencer posts that don’t mention your brand? If posts that don’t mention your brand receive much more engagement, it’s a sign that there is a misalignment between your influencer and your brand, or that the content isn’t formulated in the right way.
Track Hashtag Use
How many times per month is your owned hashtag (for instance, Lululemon’s #thesweatlife) being used? Start with this benchmark. If your owned hashtag isn’t getting much use today, use a competitor’s owned hashtag as a starting point.
Then, ask your influencer to use this hashtag in a certain number of posts during a given time period, and encourage followers to do so (in a way that won’t turn them off). Measure growth over the lifespan of your influencer campaign, giveaway, or partnership with a particular influencer. This will help you understand which tactics work, which don’t, and if you’re seeing the lift in awareness you were hoping for.
Track Conversions to Your Site (And Wallet)
To understand the ROI of your influencer program and the difference between individual influencers you are investing in most accurately, you need to be able to:
- Accurately connect influencer activity on social and the web to your brand’s on-site activity and conversions
- Put dollar signs next to your influencers’ social posts so you can report and optimize based on business outcome
With Simply Measured’s Social Attribution solution, you can measure how your influencers’ activities directly contribute to business value, including:
- Visits to your website that come via private sharing, AKA dark social
- The number of impressions and conversions each influencer is driving, with insight into the specific content and social posts that are working
- Which social channels are most successful for working with influencers
- How different influencer campaigns match up against one another, for continuous improvement
Want to see for yourself? Catch your demo below.
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I’m the Head of Marketing Communications here at Simply Measured, where I’m responsible for our content program, social media marketing, PR, and comarketing ventures. I love yoga, The X-Files, peaty scotch, hiking, and poetry. If I were a social media channel, I’d want to be Instagram, but I think I’m Twitter.