Influencer marketing has evolved as the most powerful mean of advertising purpose in the last few years. You can understand its success rate; most brands make almost $5.78 from every $1 they spend on influencers. But not all brands get this much profit. But why? The simple question is, are you assuming that the $1 you are using for this purpose is making your business grow?
If not, then you’ll find this article helpful to guide you about this all.
Why there is a Need to Track the Performance of Influencers?
As discussed earlier, to ensure that the influencers with which you’re making collaborations are doing well. You need to track the performance of influencers to:
- Conclude what works for you and what doesn’t making any difference
- Help you out deciding to boost influencer marketing in future
- Figure it out either you should continue with that particular influencer with whom you’re working or not
Beneficial Key Metrics to Track Performance of Influencer
Here is the list of some metrics that you can use to track influencer’s performance:
#1. Look for Impressions, Reach and Audience Growth
The foremost thing to evaluate the performance of any influencer is the impression, the average reach of each post, and audience growth.
- Impression implies calculations each time the content is displayed
- Reach means how many people saw the content like video or any post
- Audience growth depicts how many new followers add on
The primary purpose of taking help from influencers is fetching an audience to your content. So you should measure these to see either this purpose is accomplished or not, and your influencer is performing well or not.
#2. Look for Improvement in Brand Mention
Check for any change in brand mentions before and after the help of the influencer. Influencer marketing directly relates to brand recognition, whether your brand is getting popular after the campaign or not.
#3. Analyze Audience Engagement
Engagement is one of the most crucial metrics that you require to measure when you wish to discover the efficacy of your influencer marketing campaigns. It measures how adequately your target audience took the content of your influencer.
There are some KPIs (Key Performance Indicators) that you may use to track influencer marketing success, and you can find them by using formulas:
i. Click-Through Rate (CTR)
CTR = 100 (Number of clicks \ Reach)
ii. Engagement Rate (ER)
ER = 100 (Total number of engagements \ Reach)
iii. Cost Per Click (CPC)
CPC = 100 (Cost of influencer marketing campaign \ Total number of clicks)
#4. Check Traffic
Another critical factor in hiring influencers is to fetch traffic to your site. It directly affects the progress of your sales and helps to boost sales up. Keep an eye to check the betterment in website traffic if you want to track influencers’ performance.
#5. Some Additional Metrics
You may also use these metrics to track the performance of influencers:
- Evaluate changes in sales
- Analyze SEO impact
- Look for content generation
- Revenue from social
Hopefully, now you are fully conscious of how you should track influencers’ performance to flourish your business. You can choose https://buzzguru.com/ to find the best influencers, to analyze their potential, or any other help regarding influencer marketing. Contact at https://buzzguru.com/ today and make your life easy!