4 Steps To Measuring Your Social Media Influencer Campaigns
How To Measure Your Social Media Influencer Campaigns
Working with a social media influencer on a campaign to promote your brand can feel like you're throwing money into a void with no way of knowing your return. However, if you start with a clear set of objectives based on what you plan on gaining from the campaign, you'll find that you can generate success as well as concretely measure ROI. Below are four steps to creating and measuring a successful social media influencer campaign (also see our post on social media influencer marketing).
1. Set Business Goals For Your Social Media Influencer Campaigns
Before you decide what kind of social content you really need, determine what business goals you have for your brand. Focus your goals and always make sure they answer the question: "How does this move my business forward?". Once you have this figured out, you'll be able to form decisions regarding the best type of social content you'll want to create in order to reach these clear business objectives.
2. Determine Which Social Media Influencers Can Help Reach Your Goals
When researching the vast number of influencers on social media platforms, look beyond social media influencers with a mere high reach and number of followers. In addition to a high follower count, look to influencers who also have an equally impressive engagement rate. Engagement is the time that an audience spends with your content, whether it's reading it, watching it, clicking on it, commenting, or engaging in another way. Engagement is a voluntary action from the audience member, showing they are involved in what this influencer has to say, and is therefore a critical metric to analyze when deciding which influencers to work with. (Also see our post on 5 questions to ask yourself when choosing a social media influencer.)
3. Determine What You Will Be Tracking
What exactly are you looking for when you work with these influencers? Defining your KPIs (Key Performance Indicators) is one of the most overlooked yet integral steps to a successful social media influencer campaign. Your KPIs should be a measurable metric, such as the increase of your social followers, or the increase of brand mentions or hashtags, etc. Once you determine your KPIs, you'll be better equipped to analyze the success of your campaign, and can optimize both content and strategy along the way.
Another important factor to consider is sentiment analysis - the nature of how consumers are positively (or negatively) talking about your brand. Along with seeing your follower base increase, most brands want to see consumers engaging with their content and brand, and therefore indicating a positive consumer-brand relationship ultimately leading to sales. As you start measuring your KPIs through the campaign, you'll be better equipped to craft the best content for a successful social media campaign. Calculate your ROI by measuring all important cost and benefit metrics such as creation costs, shares, tweets, likes, comments, impressions, and engagement.
4. Test Different Social Media Influencer Categories
When you first start researching social media influencers, it can be very helpful to test a few categories to determine which market, niche, or audience you want to target. Start by working with a few influencers in multiple categories who may reach a wide variety of audience members. Compare KPI results between them to determine which influencers worked the best for your brand - which led to the most clicks, the most followers, the most conversions. You may find that exposing yourself to different markets will help you understand your customers in a more meaningful way. Engagement results from your social media influencer campaign might help you realize and discover new audiences to target, and can also help you narrow down the most effective influencer categories for your brand.
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Mediakix builds strategies and campaigns around online influencers on blogs, YouTube and social media channels. Our influencer marketing has proven to be one of the highest ROI channels among advertising media for our clients including Nordstrom, Blue Apron, Hallmark, Combatant Gentleman, NatureBox, and Sleep Number among many others.
October 2, 2014 By Evan