What are KPIs for an influencer campaign?
Influencer marketing has become an essential part of the marketing communications strategy to brands and organizations. This asks for a professional approach of influencer agencies. An important part of the professionalization is defining measurable goals. How do we determine with KPIs measurable performances of the campaign? Or what is the Return on Investment if we deploy influencer marketing? And how do we determine this?
Determine KPIs for ROI | Return On Investment
To determine ROI it is important prior to the campaign to set goals upon which we can ‘pay off’: the KPIs. These result driven indicators are a guideline to determine what the worth of the campaign is and if this has been successful. In every campaign the question is central: what do you want to achieve. Is it eyeballs, engagement or for example sales.
Below we give a set indicators where we can determine the success of an influencer:
- Central in many influencer campaigns is increasing the reach. Did we draw enough attention of the brand, product or service to the followers. How many people have seen the brand or the product. Who have processed the message and what were the reactions. And are the followers who know the product strengthens in their brand/product image in response to this campaign.
- How do we measure visibility? The Youtube channel provides us with this info. The amount of views is indicated per video. The worth can be calculated with VPV = Value per view of CPM = Cost per 1k impressions. For other social channels, Twitter, Facebook, Instagram, Twitch we can also continue with these indicators.
- Engagement begins to play an increasing role in determining the effect of an influencer campaign. With engagement you know that the followers have observed the message. There is given a reaction in the form of shares, clicks, likes or comments. To measure the engagement we need 2 indicators. De CPE = Cost per Engagement en de Engagement Rate/Percentage.
- The Cost Per Engagement is measured as: CPE = total made of costs/measured engagements
- The Engagement Percentage is measured as: EP = measured engagement/total amount of followers x 100%
- The costs per engagement can be specified Value per Click, Comment, Like of Share.
- Measuring the trust is not an easy assignment. For web analysis criteria such as length of time on a page, bounce rate, repeating page views, leaving moments are used. On social media we infer the trust from the degree of engagement: amount of reactions, sentiment of the reactions, clicks and shares. Trust of the followers in the authenticity of the influencer is determinative for the credibility of the campaign. Unfortunately this is only derivable from the data we feature. Research by which we measure the credibility, knowledge/expertise and detail of the influencer under his or her followers is still in its infancy. General numbers are available.
- The quality and attraction of the content determines if the followers note the post. Our experience is the more qualitatively or more attractive content the higher the engagement.
- And an additional benefit is that the qualitatively content also can be replaced by the brand or organisations on owned of earned media channels. Pay attention: the content of the influencer is not royalty free and is often bought out.
- Visit to the webpage can be tracked using Google Analytics. Intercourse from influencer channels can also be ‘tracked’ or ‘monitored’. This can produce valuable data about the behaviour of the followers of the influencers as long as it concerns conversions and repeated visits. This is a fine KPI to measure loyalty, for example when someone visits the web page after clicking a link on Facebook. Tracking can provide information about a purchase that takes place months later.
- Did the campaign deliver more followers on your own social media channels? Or did the influencers inspire their followers with the content of your brand or product. An increase of the amount of followers indicates the success of the influencer campaign.
- Promo codes are mostly used in determining as on the basis of the post had been a purchase.
- Google Analytics offers the possibility to set and track conversion goals. The customer journey of the client can be followed.
- Unique affiliate-links for an influencer we can keep up and measure ROI and conversions. These can be used when an influencers works on the base of commission.
Do you also want to determine KPI’s for your influencer campaign, contact Lisa on 020-7370328. Do you have a reaction on this article let us know.