INDUSTRY GUIDE TO INFLUENCER MARKETING: E-COMMERCE

Chapter 5: Campaign Analysis

You’re coming to the finish line, just one stage left! At the end of your campaign, it’s time to analyze your results and see if you succeeded.

E-COMMERCE GUIDE NAVIGATOR

0. Introduction

1. Campaign Definition

2. Campaign Setup

3. Campaign Launch

4. Campaign Monitoring

5. Campaign Analysis

Industry Hub > Industry Guide to Influencer Marketing: E-Commerce > 5. Campaign Analysis

Collect all your results

Gather all the input and output of your campaign. In other words, you need to add up the total investment you put into the campaign, and all the benefits you got out of it.

In addition to the standard input/output metrics, and depending on your campaign goals, e-commerces may also want to consider including some or all of the following metrics.

Collect all your results:

Total orders, sales and revenue
Gross profit for the business
Average order amount
Which influencers sold the most products
Total use of influencer discount codes
Which influencers’ discount codes were most used
Which product sold the most
Which color/size/other variation of your product performed best
Total traffic on your site
Which product pages got the most traffic/time spent on page
Checkout statistics like completed, abandoned, average time, abandonment point
Influencer content that you repost to your e-commerce site

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Analyze the data

How you choose to set up your analysis is up to you. Just make sure you compile all your KPI data in one place. Pull your data from Google Analytics, from your e-commerce platform’s sales reports, from media trackers like Mighty Scout, or wherever else, and organize it all in one spreadsheet.

If you’re not using a media tracker, you may need to ask influencers to share their personal, internal analytics about metrics like impressions. This isn’t something that you can see from the outside, so they’ll have to provide that information.

When you've worked with multiple influencers, make sure to compare their performances against one another. Maybe Influencer A got more impressions, but Influencer B brought in more sales. Or for multi-channel campaigns, maybe you see that your Instagram influencers had more success than your TikTok influencers.

Break it all down and find what worked best. This will give you clearer insight for the next time around. Further, if you find an influencer who performed well and who you had a good experience with, bookmark them! Something seems to be working well, so why not repeat the collaboration again in the future?

Measure your success

So how do you measure if you’ve been successful or not? Well, there’s no simple answer to that question. Success is relative. Relative to your goals, expectations, and investment.

To start, you can say you’re successful when the output of your campaign outweighs the investment you put into it. For e-commerces, let’s look at two examples.

Sales

You’re a startup e-commerce that sells health supplements. You need to get your name out there, so you recruit a fitness influencer to help you do that. You pay them $500 for two posts and a story. Based on their 60K followers, you expect around 20K impressions per publication, for a total of around 60K impressions. With these numbers, the CPM on this campaign would be $8.33.

It's time to publish, and you get ready to capture the campaign media. But it turns out that the influencer loved your product so much that they created two posts and three stories.

When you check the total recorded impressions after the campaign finishes, you see that the total impressions on the 5 publications is actually 110K. So your actual CPM is $4.55, which is almost half of what you initially expected. Although you can’t justify it with revenue, this is also a success!

For more examples, check out How to Measure Success of Influencer Marketing Campaigns.

Say you’re an online beauty brand, and you want to promote sales of your new eyeshadow palette, which costs $20. You make a deal with a micro influencer: a free palette and $200 in exchange for an Instagram post and story.

Now, to recover your $200 investment, you need the influencer to sell 10 palettes. But instead of just 10, they sell 25, which brings you $500. You’ve now covered your investment and made a profit, so it’s safe to say this example campaign was a success.

Impressions

It's time to publish, and you get ready to capture the campaign media. But it turns out that the influencer loved your product so much that they created two posts and three stories.

For more examples, check out How to Measure Success of Influencer Marketing Campaigns.

Create your report

At the end of the campaign, you have to prepare your report, which basically explains all the results and your analysis of such.

You may have analytics reports, but you should also prepare something to bring all the campaign information together. Nowadays, most marketers do this with a presentation. You can use a free tool like Google Slides to make one.

Our influencer marketing guide outlines everything you need to include in your report. However, for e-commerces, you might also want to include some of the things mentioned in the Collect all your results section above.

Conclusion

We hope this guide helped you better understand how to run an influencer marketing campaign for your e-commerce. We strive to provide practical information you can use, but if you’re craving real-life examples success, we’ve prepared some case studies about e-commerces who have successfully used influencers to accomplish their goals:

Finally, if you still want to learn more and haven’t already checked it out, visit The Definitive Guide to Influencer Marketing. It’s not specifically targeted at e-commerces, but is more exhaustive than this guide. You can even download a free PDF copy if you prefer to save it for later reading.

And with that, happy campaigning!