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How to Track the Success of Your Influencer Program

How to Track the Success of Your Influencer Program

We wanted a space where social marketers could dig deeper into trending topics, so we decided to host a weekly Twitter chat. The first #SimplyChat was Thursday, 9/14, and the discussion topic was identifying influencers.

Influencer marketing is quite the buzzword in the marketing industry. The basics of what influencer marketing is and why it is beneficial for companies are pretty well known. We wanted to dig deeper to help you start taking action on creating an influencer program.

Last week’s #SimplyChat was the third of a three-part series on influencer marketing. The discussion topic was Tracking Your Influencer Program.

Q1: Name a brand that does influencer marketing well, and tell us what you’ve learned from them.

Takeaway for marketers: When in doubt, take a look at what others in your space are doing. For example, in this blog post, we analyze one of the ways that The Body Shop uses influencers, including the benefits of a brand sharing influencer posts. Sharing an influencer’s post strengthens your relationship with that influencer because you are expanding their exposure to your audience. It also provides social proof to your followers and promotes UGC. Your followers will see that someone important is posting about your brand, and because you shared it on your brand’s account, they will be encouraged to share their experiences.

Q2: How do the goals of your influencer marketing program help you track its success?

Takeaway for marketers: Katelyn hit the nail on the head by talking about how tracking success is highly dependent on your goals. For example, Andrew utilizes influencers for their audience because they tend to have a close-knit community, which causes higher engagement rates. Andrew compares audience attributes pre-campaign vs. post-campaign: Did you gain new followers? Has your engagement as a % of followers increased? Do the demographics of your followers still match your target market? Once you’ve chosen your goal, you can reference this map to determine the metrics to track.

With this metrics map, start from the right and work your way to the left. First, identify the pain point your influencer program is addressing. Match it up to one of these four generalized pain points to determine your goals and KPIs.

Q3: If the goal of your influencer marketing program is to increase engagement, should you be tracking conversion metrics?

Takeaway for marketers: When you track conversion metrics, you get a better sense of how your influencer program affects the funnel. As Lauren and Katelyn point out, knowing this helps prove ROI. According to our State of Social Marketing 2017 Report, only 26.9% of marketers said they had a budget specifically for influencer marketing. In order to gain or increase this budget, marketers need to show how an influencer marketing program will affect business values. This is where tracking conversions to prove the ROI comes in.

Q4: Which methods do you use to track your program?

Takeaway for marketers: Here at Simply Measured, we use the GLIDE framework to test the efficacy of our influencer program.
G: Evaluate your goal by comparing where you’re at vs. where you predicted you’d be.

L: Let other key stakeholders know how the campaign went, and how you’ll be moving forward.

I: Reflect on what you have learned during this campaign, and use those lessons moving forward.

D: Decide if the relationship you have with your influencer should continue to grow.

E: Based on what you have learned from working with this influencer, weigh the costs and benefits of expanding your program.

Q5: Is it ever okay to change how you track your influencer program?

Takeaway for marketers: As you learn more, your goals will probably change. That’s why we use this framework to decide how and why we should make a change.

R: Regular evaluation helps you quickly isolate specific causes.

A: Keep an active progress tracker so you know how far towards your goal you are at any given time.

C: Constant communication with your influencer should match your goal check-ins.

E: #Sociallistening will help you keep a pulse on all trends relevant to your business.

 

Now you’re thinking, “Enough with all this talk about influencers.” We covered influencer marketing in great detail, identifying influencers, working with them, and tracking an influencer program. It’s time for our participants to decide on the topic! We held a poll on Twitter to decide on the next topic. Join us this Thursday at 11 AM PST to find out what our audience picked!

Laurie Anne Nilo

I'm the Social Media Manager here at Simply Measured. I love all things wellness, coffee, watercolor, and travel.

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