Guest Post by Anastasia Masters
Influencers have taken Instagram by storm. You can find influencers for every topic area from cooking, biking, reading, lifestyle, and more. The impact of influencer marketing is not to be doubted. However, when jumping into an influencer marketing campaign, you’ll need to make sure you’re tracking the right metrics when measuring influencer campaigns and their success.
Benchmarking your influencer campaign through 8 metrics
In order to justify spending money on influencer marketing, it’s important to make sure that it’s working for you. There are certain benchmarks for metrics that you need to keep an eye on when seeing if your influencer campaign was successful or not. After you’ve completed an Instagram competitive analysis and determined which influencer is right for you, you’ll want to track how that influencer’s work does.
Tracking impressions is the first step for measuring influencer campaigns. Impressions refer to how much a post has been seen. Since posts can be found from a user’s account and through hashtag searches, this number is not limited to the number of followers an influencer has. Additionally, a single Instagram user can have more than one impression with a post.
You can’t have an impact on Instagram without users seeing a post. If they don’t see the post, there’s no chance of them to like it or engage in another way. Although this number will be big, it’s important to measure to see how many times it was viewed, even just in passing.
In order to get this metric, the influencer you’re working with will need to have an Instagram business profile or be using a tool that tracks it.
Reach on a post is the number of accounts that the post has come in contact with, rather than the number of times a post has been viewed.
This metric is good for analyzing a post’s conversion rate. If measured consistently, reach can be a benchmark for analyzing follower growth over the course of a campaign.
An analytics tool (image above) can help you identify the reach that the campaign has. It’s important to look at this number both as a whole and broken down into smaller time periods for measuring influencer campaigns and their effectiveness.
3. Post engagement
The post engagement is the number of likes or comments that a post receives. You can look at these numbers individually or as a percentage of the number of impressions that the post had. While this information is currently available publicly, as Instagram further integrates its “Hidden Likes” test, advertisers will need to get “Likes” data directly from influencers.
This is a good metric to see how engaged an influencer’s audience is and how much their post resonates with you. This can be a good metric to decide whether or not to work with the influencer in the future since engagement usually means that a follower has viewed the post more than passively.
In order to best evaluate this metric, it’s important to ask the influencer for their usual post engagement. With proper benchmarks, you’ll be able to best compare your post(s) against their averages.
4. Referral traffic
Referral traffic is the amount of traffic you get back to your website or your profile from the influencer’s post. This is easy to measure with a UTM code generator, which is essentially a custom link for anything you want to track.
Referral traffic will give you a glimpse into how many of an influencer’s followers are likely to convert. If someone takes an action by heading to your website or profile, it indicates that they are more interested than the average user in your product. Make sure to make the conversion process as simple as possible.
While using a UTM code is the easiest way to track this, you can also look at your website traffic and see if there was an increase in Instagram referral traffic during the period of your Instagram influencer campaign.
Conversions are the number of sales that you receive due to the influencer campaign.
Tracking direct conversions for measuring influencer campaigns may be hard for some businesses, such as a restaurant or bar, but comes easier for e-commerce shops that can trace traffic through a sale. This metric is great for identifying how much money your influencer campaign brought in compared to the amount that you spent on it.
You can measure conversions by having a specific discount code associated with the campaign or having a specific link that influencers can promote your company with.
6. Follower growth
As it sounds, follower growth is the increase in followers you’ll see because of this influencer campaign. This can be reported as a number growth or as a percentage increase.
Seeing your follower growth is a good way to measure the success of an influencer campaign since these organic followers are likely to stick with your account for a bit.
Measuring follower growth is easy. You’ll need to track the number of followers your brand has prior to the campaign launch and compare it against the number of followers you have at the end of the campaign.
7. Engagement Increase
Engagement increase is the increase you see in engagement on your own posts and account after your influencer marketing campaign has begun.
This metric can help you gauge the quality of followers that the influencer has directed to your account. The better engaged the audience, the more likely they are to convert into sales for your brand.
Keep track of an account’s engagement and measure it over a similar time for before the campaign and after the campaign. Measuring these two numbers will help you identify if your engagement has increased or not.
8. Influencer NPS
Your Influencer Net Promoter Score (NPS) is a benchmark to gauge loyalty and see if an influencer would recommend your brand to their peers. This score can be viewed as a satisfaction level with your brand.
Your Influencer NPS is great at identifying how satisfying your offering is to other influencers. If you have a low score, you’ll need to adjust how you treat influencers as well as what you’re offering in return for their survey results.
Measuring this score can be done by creating a survey that’s emailed out to an influencer after the campaign. You should track this number over time and work to increase your score.
Anastasia Masters is a Content Marketing Associate at G2. She graduated from the University of Michigan with a degree in history. In her spare time, Anastasia enjoys eating her way through Chicago’s different neighborhoods, planning her next trip, and binging a new show on Netflix. You can connect with her on LinkedIn.