Key Metrics for Measuring Influencer Marketing Success

  • Influencer Marketing – Introduction

The influencer marketing industry has been seeing incremental growth over the years, given its relatability with the brand’s target audience. As per Statista, the influencer marketing industry is expected to grow by a CAGR (Compound Annual Growth Rate) of 9.91% through the 2024-29 period. Brands are committing to influencer marketing, since this marketing channel emboldens their online presence while humanizing it. 

Gone are the days when brands were known by their brand logo alone. Nowadays, branding has become more consumer-centric. About the experiences of its customers, and what people of influence, a.k.a ‘influencers’ think and say about it. Brands recognize this shift and create positive narratives around their offerings, backed by captivating storytelling. That’s when influencers become a part of their branding journey. A Hindi saying doing rounds on marketing networks is: “Aajkal brand ki pehchaan uske logo se kam, balki logon ki baaton se zyada hoti hain.” Nowadays, a brand is recognized less by its logo and more by what people say about it.

  • Key Metrics For Tracking Campaign Success

Activating influencer marketing campaigns is one thing, and monitoring their output is another. The key metrics that must be tracked to study the effectiveness of a campaign are as follows: 

i) Post Reach & Impressions

Tracking the post reach and impressions is the first step in understanding the performance of influencer content. While the post reach tells unique users viewing the content, post impressions tell the number of times the content was seen overall. Therefore, the post impressions will be either equal to the post reach or more than it. Since individuals can view the same content multiple times.

ii) Post Engagement
This reflects the engagement numbers, i.e., the number of users commenting, saving, mentioning or sharing the content. This qualitative assessment further helps in refining and optimizing the campaign. 

Metrics such as reach, impressions and engagement are relevant from the brand awareness perspective. 

iii) Website Traffic & ROI 

Influencers can put the brand links (of websites/apps) on their stories or profiles for audience engagement. This can be a game-changer for brands, leading to awareness and consideration parameters. Be it the promotion of product offers/discounts or events through link sharing, influencers can help increase Website Traffic in a great way. Related to the rise in website traffic, other indicators also see an upward trend, such as ‘Add-to-Cart’, ‘Purchase’, ‘Lead-Generation’, ‘Email Sign-ups’ and queries. These indicators significantly improve a brand’s bottom line, hence maximizing its ROI.

iv) Analyze the search interest

This is an external way of monitoring the campaign performance and its results, through third-party websites such as Google Trends, etc. Whenever a campaign involving a lot of influencers gets activated, it leads to building search interests around it on the web. This summarizes the effectiveness of the campaign and helps in optimizing it in the future date.

v) Earned Media + Press Mentions
The success or failure of a big-scale campaign can be studied through the earned media and press mentions it receives on its own. This could involve any content either getting viral for the right or wrong reasons. The outcome must be taken into account seriously for future decision-making. This is the most genuine response of the campaign, which shows what the audience thinks about the brand’s offering or marketing strategies. 

For the continued success of influencer marketing campaigns, the measurement of key metrics is extremely vital. At SocioClout, we have a track record of delivering successful influencer marketing campaigns. Connect with us today, to craft the influencer marketing strategies for your brand’s dominance across social media.