In the fast-paced realm of digital marketing, influencer marketing has emerged as a powerful tool for brands to connect with their target audience. Leveraging the reach and influence of individuals on social media platforms, influencer marketing has become an indispensable strategy for brands aiming to boost their visibility, engagement and sales. That said, tracking the effectiveness of an influencer campaign is paramount to proving ROI.

In this blog post, we’ll delve into the importance of influencer marketing tracking and provide insights on how to measure and optimize your campaigns effectively.

IMPORTANCE OF KPIs

Unlike traditional forms of advertising, influencer marketing operates in a dynamic digital landscape where metrics play a pivotal role in determining success. By tracking various key performance indicators (KPIs), brands can assess the impact of their influencer campaigns and make data-driven decisions to refine their strategies. 

Historically, we’ve tracked: Impressions, Engagements, Engagement Rate, Video Views  & Clicks. Today, though, we’re placing more emphasis on metrics like: Reach, Earned Media Value (EMV), Sentiment, View Rate, Conversions and Sales.

While the historical metrics still matter, focus on the updated set of metrics, which can provide more actionable data and prove ROI on a more meaningful level. 

TOOLS FOR TRACKING

To streamline influencer marketing tracking, brands can leverage tools and platforms designed to measure and analyze campaign performance. Here are some popular options:

• Influencer marketing platforms – These platforms facilitate influencer discovery, campaign management, and performance measurement. Think Tagger, CreatorIQ, Sprout Social. 
• Analytics – Use analytical tools to track key metrics and monitor campaign performance in real-time. Think Instagram Insights, Google Analytics and Semrush
• UTM Parameters – Implement UTM parameters to track the effectiveness of influencer-generated traffic. By appending unique parameters to campaign URLs, brands can accurately attribute conversions to specific influencers and campaigns.
• Affiliate – Allows you to track referral traffic and sales generated through influencer links. Think ShareASale or Impact. 

FACTORS THAT GO INTO REPORTING

When it comes to reporting, you’ll want to report on both organic and paid (i.e. whitelisting) efforts. Taking a holistic approach vs. reporting as separate tactics allows you to show how the tactics work together to meet program KPIs. 

Quantitative metrics (such as views and engagement rate) are good for proving the success of a campaign against KPIs. Using qualitative data is the best way to pull actionable insights to optimize and enhance future campaigns. Looking at content themes, types of format, etc. are key factors to include in reporting to determine what is working and what isn’t working. 

Influencer marketing tracking is indispensable for brands seeking to harness the power of influencers effectively. By monitoring key metrics, leveraging tracking tools, and optimizing campaigns based on insights, brands can achieve tangible results and drive meaningful results.

Ready to upgrade your reporting methods and prove ROI with influencers? Reach out to us today!

Written By: Leigh Poellmann, Director, Influencer Marketing