The Importance of Analysing Your Influencer Campaign
The great thing about influencer marketing and working with influencers on campaigns is that you have access to a wealth of stats, analytics and information that can tell you all about the success of your campaign. It stops you from having to guess whether or not it’s worked for your business. As a business, you’re spending money (whether that’s through gifting or through direct payment) on your influencer marketing campaigns, so you need to know if they’re working to generate a return on investment (ROI). By analysing your influencer campaigns as they run and after they finish, you can assess their success, make changes and plan future campaigns accordingly. Every campaign offers an opportunity to learn and pick up useful insights that you can use to improve your sales or goals as a business.
Why Is It Important to Analyse Influencer Marketing Campaigns?
Influencer marketing campaigns are important to analyse so that you can measure success, decide which influencers to work with going forward and ensure that you’re spending your earnings on the right marketing channels for your business.
Digital marketing comes with a wealth of information that can be measured in real-time. Utilising this is key when it comes to planning, executing and measuring the success of your influencer marketing campaigns.
Analysing influencer marketing campaigns means that you can optimise their performance and develop partnerships that work to benefit and grow your business. The data that you have from these campaigns can help you to understand your customers and your business better too.
How To Analyse Influencer Marketing Campaigns
Get familiar with the analytics tools on your website and social channels so that you know what you’re looking at, what you’re looking for and so that you can benchmark appropriately. The top-line things to take into account when analysing campaigns are audience reach, engagement, leads and sales and any promo codes or affiliate links you’ve asked influencers to use.
If the purpose of your influencer campaign is to reach new audiences, reach will be a key metric for you. At each&everyone, we provide guarantees before we start the campaign, so you know exactly how many people will be seeing your content, giving you peace of mind, and ensuring you’re getting the most bang for your buck!
Following content going live, you can get an understanding of how many people saw the content, as well as dive deeper into their demographics. Depending on the platform, you can also see the age, gender and location of viewers – which can sometimes differ from an Influencers “whole” audience.
Following reach, we have engagement.
Engagement is how people have interacted with influencer content. This could be likes, shares, downloads, link clicks, reactions, mentions or saves.
Once you’ve got a clear understanding of how many people have looked at your content, it is important to understand how they have reacted with it, as this can give you a clearer understanding of performance. For example, if your reach is high, e.g. 150,000, and your engagement is lower e.g. 100 likes, this would indicate that there was a misalignment. Whether it’s the content, the audience, the influencer, or an external factor, this is something to review before moving forwards.
It’s important to remember that engagement rates are calculated differently, some people use engagements divided by reach, and some, engagements divided by followers. It also differs from platform-to-platform and niche, so pre-determining what is “good” for your brand, would be a key factor before you start.
Though engagement is not the be-all and end-all, it can help when analysing the success of your campaign.
Measure Leads and Sales
One of the biggest successes of an influencer campaign is a rise in sales or leads.
Though this may not come at first, it is definitely something you can optimise for over time.
An affiliate link or promo code can be an easy way to attribute sales directly to influencers and also means if content picks up months, or even years after going live, you’re able to identify why.
Other Influencer Marketing Campaign Measurements
Depending on the goals of your campaign, you might also want to look at measurements like an increase in followers, brand awareness, and social media mentions of your brand and products. Also taking a deeper look at user sentiment, hashtag use, and profile visits can help you understand how to optimize future content and campaigns. It’s important to remember, that your customers won’t just interact with you on one platform, so take note of growth across all channels – not just the one that your influencer marketing campaign took place on.
At each&everyone we love data, and will take the hard work out of analysing your influencer campaigns!
So following your campaign we always take a deep dive into the results to produce a detailed report, with what worked, why and how you can optimise for future campaigns. Get in touch today to get started!