The Definitive Guide to Influencer Marketing
You’ve made it this far, and you’re nearly at the end of your influencer marketing campaign! There’s just one more step, and it just so happens that it’s the one that will be most interesting to your client or manager. Marketing campaigns are worthless if you don’t measure and analyze their results. You need tangible data in order to evaluate if the campaign was successful.
You have to measure both the input and output of the campaign in order to comprehensively analyze the results. Let’s run through what you need to look for and how to gather it.
Input is what you invested in the campaign. Take into account any value you put into the campaign, whether monetary or non-monetary. Here’s a brief reminder of what you need to consider with respect to investment:
- Product value per influencer, thinking in COGs
- Cash per influencer
- Combined incentive (product + money) per influencer
- Total product costs (including shipping)
- Total cash incentives
- Agency fee, if applicable
- Heepsy/other service subscription fee, if applicable
- Total investment (sum of all)
A spreadsheet to track all of this may take a minute to set up, but this way, you’ll be able to easily see how much you’ve paid per influencer, the total you paid to all the influencers involved, as well as the total campaign investment.
The output consists of the content created for the campaign, as well as all the impressions and interactions it generated. Just FYI, if you’re working with big, sophisticated clients, they might not ask you for all of these metrics. Clients like these usually know exactly what they’ll need to measure results, and they’ll only ask you for that specific information.
In general, you’ll first want to consider the usual metrics for these types of campaigns:.
- Impressions - how many times the content was seen or displayed on a screen
- Views - the number of times a video was watched
- Likes - number of likes on a post
- Comments - number of comments on a post
- Clicks - the amount of times someone clicked a link related to your campaign
- Interactions - the sum of all the ways people have interacted with your campaign content (likes + comments + clicks + etc)*
*Remember that for stories, interactions are limited. While you can react to someone’s Instagram story, that message is more like a DM. You can’t publicly like it or comment on it in the same way you can do for a post. Further, while it is possible to add links to stories (and therefore generate clicks), that option is only possible for business accounts that have more than 10K followers.
Depending on your campaign, influencers may have also generated other types of output. If their content encourages some other type of call-to-action, you may need to assess some other metrics, like:
- Sales - sales of your product, perhaps generated through influencer-specific coupon codes.
- Downloads - for example, if your product is an app, how many times was it downloaded.
Measuring your results isn’t anything groundbreaking, though it can take up some time. As we said above, set up a spreadsheet to enter all your investment input and the output of your results. Make sure your team members know where the data is being stored and how the spreadsheet is formatted to avoid any confusion or mistakes.
You can get likes and comments directly from Instagram, or ask the influencer for their data from Instagram Insights. As for impressions, that info isn’t public, so you’ll have to request influencers’ Insights metrics.
Clicks can be measured in a few ways. That information is also available in an influencer’s Instagram Insights. Or, you could pull this data from a link branding and shortening service, like Bitly or Short.io. Finally, if you prefer to use UTMs, you can track clicks through Google Analytics. If you’re an agency, keep in mind you might not have access to a brand’s Google Analytics and might have to use one of the other methods.
Once you have your data collected, it comes down to analyzing the total investment versus the total output. With this, you can start preparing your report, which we’ll discuss in the following section.