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  • Daniel Trösch

13 important KPIs you need to know for your influencer marketing campaign

Updated: Mar 24

At a time when consumers are well-aware of ads, influencer marketing’s importance can’t be understated. In fact, about 47% of internet users use an ad-blocking tool to prevent the display of ads while they’re browsing the internet.


Influencer marketing allows marketers to circumvent this issue to promote their products and services. Brands can partner with influencers and promote themselves in a more authentic manner.


This is perhaps the reason why many businesses use influencer marketing and it’s growing at a quick pace. It’s expected to grow to nearly double its size from $8 billion in 2019 to $15 billion in 2022.

Image via We Are Social


However, awareness regarding influencer marketing has been growing in recent times, and some consumers now question its authenticity. This has only increased due to events such as the Fyre Festival.


That aside, one of the major concerns for digital marketers is also the fact that they aren’t able to figure out the performance of an influencer. In fact, 39% of brands in the USA would be inclined to invest in influencer marketing if they could measure its impact.


To measure the effectiveness of your influencer campaign, you should track KPIs (key performance indicators) based on your goals.


But which KPIs should you track to determine influencer marketing success?


Let’s take a look at some of the most popular influencer marketing KPIs that you should track to measure and determine the success of your campaign:


Content Generation KPIs


Content generation KPIs allow you to track how much social content your influencer campaign helped generate.


Influencer Marketing KPI #1: User-Generated Content


When you partner with an influencer, you can provide them with a branded hashtag. They can use this hashtag when they create sponsored posts content. Additionally, they can share the same with their followers and encourage them to use it when they upload posts related to your brand.


This, in turn, can help you get a lot of user-generated content. By checking the number of posts that were created using this hashtag, you can figure out the effectiveness of your influencer campaign.


Wayfair, an online furniture and home decor store, encouraged their consumers to take photos of their products and post them on social media with the hashtag #WayfairAtHome. Through this campaign, they’ve been able to get over 39K posts with the hashtag.

Image via Instagram


Awareness KPIs


These influencer marketing KPIs look into the amount of brand awareness that the influencer marketing campaign has generated. It’s possible to find the reach of your campaign through Fourstarzz Media. Based on that, you can find the ROI of your social campaign.


Influencer Marketing KPI #2: Reach and Brand Awareness


If your business goal is to improve your brand awareness, it’s essential to track the reach of your influencer marketing campaign. In 2019, nearly 59% of brands tracked the reach that they’d achieved through influencer marketing. Additionally, 53% of them measured brand awareness.


By tracking the reach of your campaign, you can figure out how many people you have potentially made aware of your product or service. It also helps you figure out the effectiveness of each influencer and determine who gives you the most bang for your buck.


To track this influencer marketing KPI, all you need to do is calculate the number of followers the influencer has on that social media channel. Alternatively, you can leverage Fourstarzz Media to find the estimated reach of your campaign.


For example, Society6 partnered with YouTube influencers to promote their brand. Through the campaign, they reached over 1 million people on that social media platform.

Image via YouTube


Influencer Marketing KPI #3: Audience Growth


When you partner with an influencer, they’ll mention the name of your brand and tag your social media account. Many of their social media followers may end up checking your brand’s profile out and following it. Similarly, many of them might end up subscribing to your blog or email newsletter. Both of these can increase your follower count.


This helps increase your audience size. To track this influencer marketing metric, you can check your social media analytics to find out how many new followers you got during the campaign. Similarly, you can check the number of subscribers to your blog through your CMS like WordPress.


For example, GrooveHQ partnered with influencers to promote their blog. Through the campaign, they got 1000 new subscribers in under 24-hours.

Image via GrooveHQ


Engagement KPIs


Engagement is one of the most important key performance indicators (KPIs) to track and measure influencer marketing campaign success. It measures how many people engaged with the influencer content. You can use Fourstarzz Media to figure out the ROI of these KPIs.

Image via Fourstarzz


Influencer Marketing KPI #5: Website Traffic


About 40% of brands track the referral website traffic that’s generated from the influencer marketing campaign. Your traffic helps you estimate how many visitors your website managed to get through the influencer campaign.

Image via IAB


But how can you track and measure traffic?


A great way of tracking this metric is by providing a custom URL to your influencers. You can then measure the number of visits originating from that URL. This will help you evaluate the referral traffic each influencer drove your way.


Klean Plate, for example, was able to increase their traffic by 204% using influencer marketing. They partnered with influencers like Kerri Thomas to promote their brand.

Image via Instagram


Influencer Marketing KPI #6: Engagement Rate


The engagement rate is perhaps the most important KPI for influencer marketing. Nearly 89% of marketers use engagement to determine the success of their campaigns.


The engagement that your influencer content receives shows how many of their followers have actually interacted with the influencer’s post and noticed your brand. Engagements can be comments, likes, shares, etc.


But how can you calculate the engagement rate for the content that influencers create?


The engagement rate is found by using the following formula:

Image via Fourstarzz


Influencer Marketing KPI #7: Click-Through Rate (CTR)


The click-through rate is an important engagement metric. It shows you how many people actually clicked on the link provided in the social media post created by the influencer. This can help you determine the effectiveness of your social media marketing efforts.


But how can you calculate the click-through rate?


You can calculate the CTR by dividing the total number of link clicks by the reach of the influencer’s post and multiplying by 100. The higher the CTR, the better is the effectiveness of the influencer.

Image via Fourstarzz


Naturebox, for instance, partnered with influencers like Cullen & Katie. Through the campaign, they were able to get a CTR of 6%.

Image via YouTube


Influencer Marketing KPI #8: Cost Per Click (CPC)


Yet another important engagement metric is the cost per click. It’s the cost incurred by you for every click on your link.


You can find this influencer marketing KPI by dividing the total cost of the influencer marketing campaign by the number of clicks.

Image via Fourstarzz


The lower your cost per click, the more effective the campaign is.


Sales KPIs


These influencer marketing performance indicators deal with the sales generated from the campaign. You can track the same through Google Analytics and find out your ROI.


Influencer Marketing KPI #9: Lead Generation


Ultimately, through influencer marketing campaigns, many brands want to increase their lead generation and sales.


To generate leads from a campaign, you need people to give you their information. This can be done by driving them to your landing page or getting them to subscribe to your email newsletter.


GORE-TEX, for example, partnered with influencers like Andy Best to promote their brand and generate leads. Through the campaign, they got over 1637 email subscribers and 3697 contest entries, which meant over 5000 leads.

Image via YouTube


It’s also essential to check the total number of leads that the campaign has generated. For this, you can use Google Analytics.


First, you need to set up a goal in Google Analytics, such as filling a form. Then, you can head to the Conversions section to see how many times the goal has been fulfilled. You can filter it by “Source” to find out how many leads were generated through the campaign.


Influencer Marketing KPI #10: Sales


This influencer marketing KPI helps you determine the actual revenue that you’ve generated from the influencer marketing campaign. You can provide custom URLs or special promo codes to influencers to figure out the number of sales driven by each influencer.


This can help you figure out the total sales generated through your influencer marketing efforts along with your conversion rate. It’s one of the most important KPIs to track because it gives you a direct answer on how much revenue your campaign generated.


You can track this influencer marketing KPI through the campaign by giving custom links to your influencers. The sales generated from these links can be tracked through Google Analytics.


Similarly, you can provide customized discount codes to your influencers and track the sales using them.


For instance, Arm Candy partnered with numerous influencers like Lucy Jessica Carter to increase their sales. Through the campaign, they were able to generate over 350 sales.

Image via YouTube


Influencer Marketing KPI #11: Revenue Generated


The revenue that your influencer campaign generates is yet another important influencer marketing KPI.


You can easily calculate it by providing voucher codes to your influencers. You can then calculate your profit by subtracting the cost of the products from the revenue generated.


This can help you determine how much you’ve earned from the campaign, and it can help you figure out your ROI too.


For example, K Couture partnered with numerous influencers. Through the campaigns, they were able to increase their revenue by 349%.


Affiliate Marketing KPIs


If you’ve combined affiliate marketing and influencer marketing for your campaign, you should measure the relevant KPIs as well. You can track the number of sales through an affiliate campaign by using coupon codes and custom affiliate links with UTM parameters.


Influencer Marketing KPI #12: Cost Per Acquisition (CPA)


When you partner with your influencers on an affiliate basis, you should decide on a commission for them. This commission may be a percentage of the revenue generated by them or a set amount for each sale.


To determine this influencer marketing KPI, you can divide the total advertising spend by the number of acquisitions.

Image via Fourstarzz


NA-KD, for example, leverages this strategy. They pay a 14% commission to influencers who become their affiliates.


Each influencer gets their own promo code through which they’re able to track the sales. This way, their CPA is always 14% of the selling price. Note how the influencer is promoting the brand through her post below.

Image via Instagram


Conclusion


To determine the effectiveness of an influencer marketing campaign, it’s essential to track and measure various influencer marketing KPIs. You should measure KPIs that are relevant to the goal that you’ve set for your influencer marketing campaign. Based on these, you can find the ROI of your campaign and figure out if it was a successful influencer marketing campaign or not.


To find right influencer for your influencer marketing campaign and track its progress, buy the subscription of Fourstarzz Media now for just $59 per month. Get instant access. No hidden fees. Cancel any time.

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