Guest post by Stephanie Douglas
From increasing brand awareness to tapping into new audiences and driving sales, we all know how effective influencer marketing can be. Still, sometimes our clients or bosses can need some extra convincing, which is why we put together our top ways of measuring ROI in influencer marketing.
Influencer Audience + Target Market Match
Finding an influencer with the right ‘look’ is all well and good, but if their followers identify as female and live in Mexico, and your product is targeted towards men and only available in the UK, it’s clearly not going to work out.
The Influencer Marketing Cloud allows us to view any influencer’s audience information and see the demographics of their followers, making sure they match for our target audiences. When working with your client or CEO, drawing their attention to this perfect audience match up will reassure them that your campaign is reaching the right people, a major relief when seeing that major brands are still paying for fake followers.
Before you select your influencers, it’s good practice to ensure they have a strong engagement rate. This engagement rate tells you how many people are actually interacting with and co-signing an influencer’s content. In many ways, this is how much influence they really have.
When measuring the results of your campaign, we would always recommend tracking the total number of engagements, either by splitting likes and comments or counting them together. This number will show how many people you have not only reached, but actively caught the attention of enough to receive an interaction – a much stronger measurement than reach alone.
Earned Media Value
Earned media value is the cherry on top of your influencer marketing report! This measurement tells us how much we would have had to spend on traditional social media ads to get the same reach and engagement. This is a great way to prove the ROI of your campaign and show how the budget spent on influencer activities was a good investment.
The Influencer Marketing Cloud’s Campaigns feature
The great thing about all of the measurements outlined above is that you can get easy access to them as they happen using the Campaigns feature in InfluencerDB’s Influencer Marketing Cloud. This feature makes it super easy to set up and track an influencer campaign, keeping all the information in one place. By keeping track of your selected influencers and monitoring the campaign hashtag or @handle, the tool will pick up all relevant content posted by your influencers and track the results from the total number of engagements and earned media value to the demographics of your combined audience.
Intermarketing Agency is an integrated agency. Creatively-led, service-driven with a focus on ROI. With a full-service offering, we help our clients solve their business challenges.