13 important KPIs you need to know for your influencer marketing campaign
Updated: Jul 20, 2020
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
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
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