2 Simple Ways to Measure the Success of Influencer Marketing Campaigns for Beginners
According to Google Trends and recent data, Influencer Marketing has grown about 50% in popularity just this January 2023, with up to 37% of brands spending between $10,000 to $50,000 USD on the rising marketing strategy.So if you’re one of those brands that just got started on Influencer Marketing and you’re not quite sure what to look out for; here’s what to expect when measuring your campaign’s success– made simpler!
2 ways of measuring successful campaigns
1. Check your numbers!Typically in Influencer Marketing, these are what should be tracked:
- Reach / Impressions
- Engagements: Likes, Comments, Shares
- Views / View Rate
While not all social media sites will have them all available, each will have its own variation of results that will give you the best insight into their platform. Here’s a little example of a Case Study with ChopeDeals for Instagram!
For ChopeDeals, their campaign objective was to increase brand awareness and they did this with an Instagram Story posted by 375 Partiposters, having them all reshare a key visual promoting the store’s 10th anniversary deals.Since the objective was to build awareness of a specific promotional period, one of the best indicators of success would be to watch the campaign’s “cumulative reach” overall. With this data now at their disposal, they’ll be able to compare reach and impressions against any previous and future campaigns– meeting current objectives and setting the bar for the future!By tracking these numbers through multiple campaigns, they’ll now be able to tailor future runs to what their objective is; optimizing results, building better campaign briefs, and creating user-generated content that will keep people watching!2. Create social conversationsIt’s one thing to track numbers, but it’s also another to see real conversations spark! Here’s what we’re talking about:
In this case study, Coconut Queen, a brand that has brick and mortar stores spread across Singapore, launched a campaign that focused on increasing brand awareness for their coconut-based drink products. The campaign was open to all nano-Partiposters and called for them to visit their stores and post with their products, highlighting that this brand is a personal favourite of theirs.Since most platforms have a public comments section, it’s a great opportunity for conversation and seeing real interactions between people about your brand. For Coconut Queen, there was an obvious growing interest in trying out their products from the influencer’s friends and followers. Seeing these types of interactions build trust with potential customers, creating an invaluable relationship with them for the next time they encounter the brand.As a little bonus, comments and interactions are shown to boost posts as well; oftentimes bumping them up on the timeline to show people “what’s being talked about”.
Time to check off those goals!
While these two metrics are used widely across the industry, it’s best to remember that these are merely guidelines since each campaign is different.Measuring a campaign’s success should always be focused on meeting your objectives and taking proactive steps to improve your next influencer marketing campaigns!