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What Are KPIs For Influencers?
When you run a marketing campaign, you always have some goals that you’re trying to achieve. These may be increasing brand awareness, improving website traffic, generating high-quality leads, or many others. Marketers use these goals to shape their campaigns and evaluate their success. Influencer marketing campaigns are no exception.
To evaluate the success of influencer marketing campaigns, you need to look at influencer marketing KPIs — key performance indicators. These quantifiable metrics track campaign performance over time to help you understand what’s working and what’s not.
If you’re going to run an influencer marketing campaign, you have to familiarize yourself with key performance indicators for influencers. Here’s what you need to know about how to track influencer marketing campaigns:
How Is Influencer Marketing Measured?
You may be wondering how to measure influencer marketing campaign results.
You should start measuring influencer marketing KPIs before you ever launch your first campaign. It’s important to consider certain metrics while deciding which influencers to include in your campaign, such as:
- Follower count- The number of other social media users who follow the influencer’s content.
- Number of fake followers- Some influencers buy “fake followers” to help inflate their follower counts.
- Engagement rate- The number of likes, shares, and/or comments the influencer gets on their content compared to their follower count. The higher the engagement rate, the better.
- Impressions- The number of times that the influencer’s content appears on other users’ feeds.
- Reach- The number of times unique users see the influencer’s content.
- Frequency of branded content- When influencers show their followers too much branded content, they tend to check out. Ideally, you want to work with influencers who only post branded content occasionally.
Metrics like these can help you find the top social media influencers for your campaign. You have two main options for tracking influencer marketing KPIs — manually or with the help of marketing tools. Though you could go through many different influencers’ profiles and manually compare most of these metrics, it would be time-consuming and tedious. Instead, you can use influencer marketing platforms like Lionize, which automatically collect and compare these metrics. All you have to do is look at the influencers that you like best for your campaign.
What Are The 5 KPIs For Influencers?
Once you pick your influencers and launch your campaign, what are the 5 key performance indicators to measure the success of the campaign?
While there are many different influencer marketing KPIs you can use to evaluate your campaign, these are the five most important to keep in mind:
Number of Impressions
The number of impressions is a key metric for any influencer campaign. This tells you how many times your post appeared on people’s feeds. More impressions = more potential for campaign success.
You don’t just want people to see your sponsored posts, though. You want the audience to interact and engage with the content, so you know it made an impact on them. The KPI you use to measure this is the engagement rate of your campaign. The engagement rate for your campaign compares the number of engagements (likes, follows, comments, etc.) your sponsored content received to the number of followers your influencer partners have.
If you’re trying to boost your audience, an important metric to track is your follower growth during the campaign. Compare the number of followers your brand’s social media accounts have at the beginning of the campaign to your follower count at the end to track this growth.
If you instruct your influencers to include a link in their sponsored content, the click-through rate (CTR) is an essential KPI to track. This measures the number of times audience members click on a particular link.
Typically, the ultimate goal of an influencer marketing campaign is to drive growth and sales. The number of conversions is the metric you use to track that. If you don’t have any additional tools, you can estimate conversions by tracking your sales numbers before, during, and after your campaign. Any increase in your sales numbers during the time your campaign was running would be the campaign’s approximate conversions.
A more sophisticated and accurate way of calculating the campaign’s conversions is to use links with link tracking or promo codes. This will make it easy to identify the traffic sources for conversions during the campaign.
What Are The Most Important Influencer Metrics?
If you’re wondering how to measure influencer marketing success, you may want to know — what are good KPIs for influencer marketing? The truth is that you have to pick the KPIs most closely related to your goals. While impressions may be the most important KPI for one brand, engagement may be more important to another.
How Lionize Can Help With Your Influencer Marketing Strategy
Lionize’s influencer marketing platform makes it easy to track and compare KPIs for brand ambassador programs or other influencer marketing campaigns. Our influencer marketing platform makes working with influencers easy. From finding the perfect creators for your campaign, to tracking metrics, our software can do it all. Book a Discovery Call today to see how we can help your brand succeed at influencer marketing.
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