How to measure influencer marketing ROI for your campaigns

Key quotes:

• "In this post, we’ll take a closer look at 4 of the important metrics, and how to use them effectively to measure the ROI of your influencer marketing campaigns."
• "In influencer marketing, it represents the number of people reached by your campaign."
• "Image via YouTube In such cases, a rough way of measuring reach is to calculate the number of followers who share the content vis-a-vis the campaign spend."
• "Shares are, therefore, the most important metric, followed by comments and likes."
• "Hence total engagement is a very important metric that is used to measure your influencer marketing ROI."
• "Image via Grin Impressions are defined as the number of times people actually see your content."

Key quotes:

• "To properly calculate your ROI, you’ll need: Once you have those two elements, you get your Influencer Marketing ROI by measuring the performance of each influencer campaign through 4 metrics: What it tells you: How many of an influencer’s followers saw the promotion and found it relevant enough to tap on your username."
• "How to maximize results on this metric: When looking to maximize the number of Profile Visits Per Dollar spent on an Influencer, I’d recommend that you aim to partner with influencer with over 10K followers and over 15% engagement."
• "You want to have an Instagram account that converts the highest percentage possible of profile visits, but you won’t know what your conversion is like unless you measure your Followers Per Dollar Spent."

Transcript: Hey everyone this is Susan from buzzsumo welcome to our session today we're gonna be talking all about measuring the ROI of your influencer marketing Shane is also here he's ready to chat with you about his experiences with influencer marketing be great to know where everyone is logging in from I'm in New Jersey right outside New York City where are you saying I keep forgetting no it's funny so I'm between Sacramento and LA cuz I have my course I teach and UC at UCLA but right now I'm in Sacramento oh cool how long have you been teaching so it's actually just just over a year we UCLA reached out to me about doing the co-teaching the course that they have for influencing America's personal branding to influencer marketing there's two pieces of it one is for influencer marketing on the brand side how to work with influencers and the other side how to be an influencer so they figured la would be a good spot I guess to find all the influencers and actors that now you know what from this and want to be influencers that's cool yes so is there a lot there's what... See more →

Key quotes:

• "So, before we get into how to track influencer marketing, let’s take a look at some of the metrics you need to measure to determine the success of your influencer campaigns."
• "Here are some of the metrics that you should use for influencer tracking: Input includes the activities that you undertake in the identification phase of your influencer marketing campaigns."
• "Engagement is one of the most important metrics that you need to measure when you want to find the effectiveness of your influencer marketing campaigns."
• "Some of the important ones you need to measure are: Influencer campaigns can also help drive traffic to your website."
• "This is perhaps the reason why nearly 40% of brands track website traffic to determine influencer marketing success."
• "One of the most important metrics you need to track for influencer marketing campaigns is your sales."

Key quotes:

• "With the help of influencer marketing, small businesses can expand their sales and large businesses can reach out to broader audiences."
• "Successful influencer marketing is aimed to increase brand awareness, create a conversion, generate positive ROI and reach your target audience."
• "Influencer marketing provides significant tangible as well as intangible return on investment for brands and is a growing trend for B2B."
• "Eventually, instead of creating more content, the clever strategy for businesses is to focus on ROI provided by influencer marketing as well as companions like employee advocacy and brand advocacy."
• "Engagement, engagement rate, reach, impressions are the most-used metrics to calculate ROI of influencer marketing."
• "In order to estimate the true ROI of influencer marketing, brands need to consider pre and post collaboration sales figures, links to the brand’s website, keep track of ongoing campaigns."

Transcript: Welcome to chicks webinar today we'll be covering no BS five real ways to measure influence your marketing ROI my name is Troy Matteson I work in marketing operations here at KISSmetrics I'll be on Twitter during today's call and you can reach out to me at Chuy L Matson or you can use the hashtag kiss webinar and we'll do our very best to follow up with you as soon as we can but without further ado I would love to introduce to you today's presenter Rustin banks were really excited to have you with us here Rustin but why don't you go ahead and tell us a little bit about yourself fantastic thank you so much Dewey and so excited to be here and so honored that you would have me on this webinar series so hi everyone my name is Rustin banks I am the co-founder and chief product officer of a company called tap influence we automate the process of influencer marketing through a marketplace and software and I've been working on the problem of influencer marketing for seven years I've been working on the scale problem but really even more recently focused on this problem... See more →

Key quotes:

• "One way to figure out what’s in it for your brand is to calculate your Influencer Marketing Return On Investment or Influencer Marketing ROI."
• "For example, if you buy $100 worth of stock in a company, then end up selling your stock for $200, you’ve earned $100 and your return on investment is 100 percent."
• "Although the concept is similar when you’re calculating Influencer Marketing ROI, there are a few differences."
• "A KPI is a measurable value that your brand can use to measure your influencer marketing ROI."
• "A few examples of influencer marketing KPIs include: Giving your influencers coupon codes to share with their followers is one of the easiest ways to track response and ROI."
• "For example, if every influencer you work with has a coupon code that’s in their name, you can add up how many codes get redeemed and figure out how much revenue that one campaign earned your company."

Transcript: Very very powerful successful story because of the fact that you have these influencers that are talking about your brand or service and because they've either used a product or they are endorsing a product or anything like that well kind of go deeper into that about like what those different things can look like and they're saying right now 92% of marketers who leverage influencer marketing and this was in 19 in 2017 found it to be very effective the thing is influencer marketing has gotten a little more difficult because it's become more popular right so I think people are more I'm kind of hip to it and kind of like hey is this person really and you know endorsing a great product and service or are they just doing this for the money and so I think that's where authenticity is something that we talk about that comes into play but influencer marketing isn't going to where I can I can tell you that from from the campaign's that we put on a lot of people once again it's no different than SEO and SEO when I did SEO 15 years ago it was a lot more... See more →

Transcript: On this episode of inside influence we tell you how to track and report on the ROI of an influencer marketing campaign so the influencer marketing industry is currently a two billion dollar a year business projected over the next 12 months to become an 8 to 10 billion dollar industry so a huge amount of growth is coming its way now brands agencies they're wondering how do we calculate the ROI how do we make sure that this is lining up to our KPIs and that we're seeing a solid return on investment it's when today's episode we're talking about five different ways that you can track the ROI of an influencer marketing campaign one option available to you is to provide a personalized link to every creator influencer participant in your campaign now on Instagram it can be a swipe up in stories it could be a link in bio for other social networks they actually allow links to third-party websites so they can put it directly within that content when you provide that link to them then through Google Analytics you can track how many people actually clicked on that link so the first option is personalized... See more →