How to Measure Influencer Marketing
Influencer marketing is defined as “a form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field.”
In the below article we will explore the types of influencers, benefits for your organisation and more importantly, how to measure influencer marketing.
Remember that influencer marketing needs to be incorporated into your broader digital marketing approach. It can be used as a tool to enhance your brand awareness and position your business as a thought leader.
Types of Influencers
- Macro- influencers – are usually active social media icons or celebrities. They have a large following and come at a cost. Your message outreach is vast.
- Micro-Influencers – typically have a smaller, but more engaged following (some less than +1000). Micro-influencers are fast becoming more popular than macro as their content feels more authentic and as such their followers are more engaged.
Benefits of influencer marketing
Influencer marketing can help build your brand and reach new audiences. Here are a few other benefits to include influencers in your next campaign.
- Improve brand awareness
- Post visibility and increase your reach
- Builds trust in an authentic way and credibility
- Allows you to engage with potential customers
- Drives consumer purchasing decisions
- Carefully identified influencers can expand your reach to engage with Millennial & Gen Z Consumers
The most common question marketers get asked about advertising is, how do you measure the ROI?
How to measure influencer marketing
1. Reach & Engagement
This term entails a few aspects you can look at when considering an influencer:
- Size of their following
- Active engagement of the audience (likes or sharing)
- Track your webpage or landing pages to measure the traffic they have generated
- Give each influencer a voucher code to track the orders directly attributed
Measure attributes of your campaign such as:
- Number of new followers to your company
- New subscribers to your newsletter/ database
- Number of app downloads
- Number of an event attendance
2. Return On Investment (ROI)
- Number of sales and the revenue generated
- Cost per lead or follower
- Total profits per influencer
- Number of repeat customers
How much do you pay for an influencer?
Influencers can have different fee structures. These can range from cost per click (CPC), cost per engagement (CPE), or cost-per-acquisition. Or a retainer for a certain number of posts and set your minimum requirements for measurements (i.e. the number of likes per post).
Adclick Africa can help launch your influencer campaign by sourcing relevant influencers in your industry and target audience. Choose from a range of digital marketing services like scriptwriting, storyboards, creative direction and templates to help you achieve your marketing goals.