In order to achieve a level of effectiveness, we have considered the 20 KPI for your Influencer Marketing campaign. Once the key indicators have been defined, it will allow us to measure and quantify the influencer marketing actions that are being carried out in the campaign and thus know in a certain time if the objectives of the campaign have been achieved and will even help to make better decisions or actions within the team and head of marketing.
It is important to be clear that all the key indicators for your influencer marketing campaign are made up of metrics, but not all metrics are key indicators. The metrics that will be indicators of your campaign are those that you have defined as necessary to evaluate the level of effectiveness of the Influencers’ marketing actions.
Spanish Influencers What is a successful campaign like?
Almost every marketing team is responsible for two things:
Increase sales and leads
Lower customer acquisition costs
But some of the most impressive achievements are more subtle.
For example, a boss instantly understands the influencer marketing ROI of a campaign that has generated a lot of sales. But the boss may not feel the same level of enthusiasm for other achievements, such as; the increase in the number of followers or website traffic. Deep down, you know that tracking customer behavior means celebrating a small milestone that directly and indirectly impacts brand bottom line.
So how do you properly track your customer with an influencer program?
The answer is: KPIs must be established in the influencer campaign and key metrics assigned to those indicators. Which we are considering 20s KPIs for your Influencer Marketing campaign with this text. This approach will help you follow the SMART principle. for goal setting:
What is the difference between an influencer goal, an influencer key indicator, and an influencer metric?
An objective is a first step in achieving a marketing goal that may or may not be fully defined. Common goals for influencers are to increase brand awareness or generate sales.
The key business indicators are what define those marketing objectives. It informs you how you have achieved the objectives. The most effective indicators include numbers, because numbers are traceable and reliable.
Influencer metrics are figures included in the 20 KPIs for your Influencer Marketing campaign. Without metrics, key indicators are generally worthless, as are metrics without information.
A well-crafted influencer campaign summary will tell the influencer exactly what their goals and metrics are. And while the brand may have internal KPIs (only from the Marketing area) that they do not want or need to show their influencer, the brand would only share the key indicators that are relevant for an upcoming campaign, that would help the influencer know their expectations in an upcoming collaboration, which is the basis of good communication between both parties.
What are the most important metrics?
The objectives of a campaign determine what the key indicators should be. And KPIs help determine the most important influencer metrics.
For example, if the goal of a particular influencer campaign is brand awareness (top of the marketing funnel), your KPIs will most likely identify the following metrics:
- Interactions (likes, comments, shares, etc.).
One cannot properly measure a campaign without first understanding where their target audience is within the marketing funnel. An influencer program only focuses on one or two stages of the marketing funnel instead of all three.
Some influencers are better for mid or top of the funnel campaigns, while others are perfect for increasing conversions (bottom of the funnel).
What are the key indicators for a “good” influencers campaign?
A good indicator must be challenging and reasonable. If the KPI is not challenging enough, then you are missing out on higher ROI and program improvements. But if you can’t make your numbers reasonable, then you lose motivation or make your metrics meaningless.
The key indicators of your influencers must be measurable and trackable. For example, figures such as interactions, followers, link clicks, etc., should be measurable. Ambiguous words like “good” or “better” are subjective and can mean anything.
Every key metric needs a deadline, it’s a great way to measure metrics in influencer campaigns plus timelines keep the team and influencers focused on goals.
Separating metrics into high, medium, and low levels will not only show you how certain metrics impact your brand results, it will also help you build relevant reports for your team and boss.
How often should marketers adjust their metrics?
Social media is a dynamic environment, which means things can change rapidly in an instant. For example, the content of an influencer can go viral and blow up a brand with many benefits, causing the consumer to suddenly spend thanks to a suitable campaign.
This is why influencer marketers need to be agile. Measurements should be consistent in the short term with quarterly goals accompanied by KPIs which are a common way to make critical adjustments to your influencer program in a timely manner. That said, you may need to adjust and adapt an indicator before the end of the quarter. You can go from 20 KPIs for your Influencer Marketing campaign to more KPIs if the Marketing specialist wants to make the necessary adjustments.
If you’re collaborating properly with your influencers and constantly updating your buyers, you’ll intuitively know when the time is right to adjust your influencer marketing KPIs.
20 KPIs for your influencer marketing campaign to keep in mind
4 KPIs of High-Level Influencer Marketing Campaigns
High-Level KPIs can look almost identical to Marketing Objectives, although they will always include some numbers and a deadline. The most common high-level influencer KPIs and goals are:
- brand awareness
- website traffic
Brand awareness puts you on the radar of your target audience. Measuring brand awareness typically involves tracking the reach and impressions of influencer posts.
Differences between reach and impressions is as follows:
- Reach is the number of people who see your post.
- Impressions is the number of times your post was shown to your audience.
Depending on the social network and post type, you may not always be able to distinguish between reach and impressions. But both help you measure how much they know about your brand. If you dig deeper into post interactions, you’ll discover more about how effective an influencer is in helping you grow your brand’s popularity.
Conversions and Sales
Tracking influencer sales and conversions often requires you to take advantage of attribution tools like affiliate links, coupon codes. Tracking influencer earnings is often the key indicator with the most exposure.
That said, a conversion happens every time a user responds to a call to action, like registering for an event or subscribing. The more opportunities and tools you use, the more conversion metrics you have to work with.
Content production and quality
One of the smartest ways to partner with your top-performing influencers is to outsource parts of your social media strategy. In other words, the best influencers may be the ones pushing branded content.
Influencer posts can be great reusable content for ads, future social media posts for brand pages, email newsletters, and website. Each of these content opportunities can become their own indicators, as long as they fit with your current influencer and social media strategy.
Website traffic is easily the first marketing indicator that can help determine the success of a campaign. To measure the increase in traffic one can use tools, one of the best known is Google Analytics. This tool is very useful because it helps us make decisions.
There are countless ways to refer social media users to your website through influencer posts. Once consumers land on your website, you can have various conversion tools such as incentives to create an account, exchange a discount code to join an SMS list, and more.
8 Mid-Level Influencer Marketing KPIs
Each key mid-level indicator relates to one of the high-level objectives listed above. The deeper you go with your indicators and metrics, the better you will track the buyer’s journey for your target audience.
social media followers
Increasing the number of followers with the help of influencer campaigns is an excellent strategy. Many consumers want to become fans of the brands that their favorite influencers love.
A mix of in-brand and influencer posts can dramatically increase the amount of social media users finding your content online can be exponential, the greater your reach the more likely you are to increase impressions and interactions without having to invest in paid ads. This would generate many benefits for the company.
The ultimate goal of any influencer campaign is to drive lead generation, sales, and conversion rates. All of which is a consequence of improving your brand visibility and audience engagement. So obviously you need to measure your lead generation and conversion rates.
Identifying the marketing channels and influencers that generate the most leads for your business can be critical to maximizing ROI. Adjust your campaign to produce more and better content on the channels that are proving to be most effective.
If you create more conversion opportunities, then you nurture more leads for future sales. Some examples of conversion opportunities include:
- SMS subscriptions
- email subscription
- event confirmations
- Download the electronic guide
- Registration or participation in the contest
Analytics in tools like Google Analytics can show how many people visit your product description pages and add items to the shopping cart. But what you really want is for shoppers to add items and pay, rather than just using the cart to create wish lists.
If you notice that shoppers aren’t converting and/or abandoned cart rates are high, you may need to incentivize them to complete their purchase. Many brands take advantage of influencer-specific coupon codes or giveaways for first-time buyers.
As a bonus, coupon codes are one of the most efficient ways to attribute sales to the right influencer.
Active Spain Influencers
Having the right influencers can have a great impact on brand awareness, as well as the production of social content. With each new addition to their team of influencers, word of mouth for the brand spreads exponentially.
You always have to be very careful not to sacrifice quantity for quality.
The effectiveness of the influencer program depends on how well the influencers are vetted. Don’t be afraid to take a step back from your influencer activations if you notice that the quality of your influencer team is declining.
Spain influencer campaigns
If you have the right team members and management tools with influencers, you may want to challenge them to manage more campaigns at once. By adding more campaigns that help consumers at every stage of your marketing funnel, you can maintain a steady stream of conversions and organic growth.
Closely related to the two metrics above, measuring and improving the frequency of your influencer posts gives you more ways to track your program’s performance. Plus, more influencer posts means a wider selection to repurpose high-performing, authentic content.
Publications available for reuse
When agreeing to the terms with your influencer, make sure you’ve claimed rights to all campaign content. Perhaps you’ll want to collect and reuse that content in other ways. This may pay off later on as it can amplify the ROI of your influencer campaigns, but also significantly lower your content production costs.
8 Low-Level Influencer Marketing Campaign KPIs
1) Influencer Engagement by channel
It is not necessary to be active on all social networks. If you locate your target audience on two or three platforms, you may want to focus your organic and influencer engagement there. This approach will help you grow your online presence faster.
When tracking engagement on your social networks, remember that each network has its own set of available interactions. The best way to achieve them all is to become familiar with the various social media features on your favorite platforms and collaborate with your influencers to achieve more of each type of interaction.
2) Influencer Engagements by Post Type
Just as you would track and improve engagement on specific social media platforms, you should also try to increase engagement for each type of social post.
When recruiting influencers, you’ll want to pay attention to the types of posts they’re most proficient with. Doing so will help you design your influencer campaigns more strategically.
3) UGC (User Generated Content)
These are the influencer posts as well as the audience responses to those influencer posts. Also, there may be people talking about your brand without your knowledge. It is important that you keep track of all positive content so that you can capitalize on it in future campaigns.
4) Average Engagement Rate
You can find your engagement rate by dividing the number of likes, comments, shares, etc. for the full scope. The more engaged influencers are with the brand, the more likely your campaign and program engagement rate will increase.
5) Conversions by type
Similar to how you got your metrics by social network and post type, you may also want to generate new goals across your various conversion opportunities and track each of them separately. This approach will give you an idea of how eager your audience is to take the “next steps” with your brand.
6) Qualified prospects and leads
If you have a complex sales process where you’re capturing leads over a period of time before a big purchase, it’s not a bad idea to track leads.
You can also use this approach if you are trying to grow your email or SMS lists. Increase the database.
7) Post clicks on links.
Link clicks indicate web traffic and conversions. For best results, you may want to segment this metric by channel and post type. It is very easy and effective to measure the links through the measurement tools.
8) Influencer Specific Indicators
Once you’re managing multiple campaigns at once, you may have campaign-specific or influencer-specific KPIs that aren’t listed here. No goal is too small. So even if a KPI is exclusive to a single influencer or campaign, you will need to track it as a KPI.
How to use the 20 KPIs for your Influencer Marketing campaign
In conclusion, the goal of the 20 KPIs of an Influencer Marketing campaign is to measure growth and success over the duration of the campaign. These KPIs must be challenging and realistic and must align with the company’s marketing goals, connecting the dots between influencer campaigns and overall marketing ROI.
When you decide to use an indicator, be sure to record it for quick and easy reference. You may also want to brief your team to keep everyone focused and hold each other accountable.
Lastly, the 20 KPIs for your Influencer Marketing campaign can help you create important reports on the effectiveness of your influencer campaign. When you can demonstrate all the ways your influencer program moves buyers through the marketing funnel, your supervisors will instantly understand how critical your influencers are to the brand’s bottom line.
If you want more information you can download the report here.