Tips to Correctly Measure the Influencer Marketing ROI

You are running influencer marketing and expecting fruitful results. However, not many know the right tactics to measure influencer marketing ROI. Measuring influencer marketing ROI is vital to ensure you have put your money in the right campaign. With a positive ROI, you can proceed further. However, negative ROI is never a good option to proceed further. So, here are the crucial tips that you must consider to measure your ROI from influencer marketing.

Setup Your Goal: Goal setup means knowing the purpose of running an influencer marketing campaign. Whether you want to raise brand awareness, grow your audience, or boost sales? You should answer this question before planning anything else. Most businesses make these mistakes and hence fail to calculate the Return on Investment (ROI).

Determine Your KPIs: Determining your Key Performance Indicators (KPIs) is essential to track your campaign’s success based on your goal. There are multiple KPIs like page views, conversions, traffic, backlinks, etc. which you must know before starting the influencer marketing campaign.

Below are the most common KPIs you must consider for ROI calculation (based on your goal).

  • Conversions and Revenue: Most influencer marketing strategies are based on increasing sales (conversions). So, it’s crucial to calculate the number of conversions and total revenue earned from Influencer Marketing. In influencer marketing, promo codes play a significant role in calculating the number of conversions.
  • Pageviews & Impressions: If your motive is brand awareness, a pageview is an important KPI that you shouldn’t miss. Here conversions/revenue won’t matter a lot. The more people see your brand name, the bigger visibility you get across the internet. It further helps in driving direct traffic to your website.
  • Social Media Engagement: Nowadays, social media platforms are the home for influencer marketers. Instagram, Facebook, YouTube are some social media giants that offer influencers a broad platform for knowledge sharing. Social media engagement includes clicks, comments, likes, etc., that boost your social presence. However, if you are working on Instagram, you should know the influencer marketing challenges Instagram users may face.
  • Increased Followers/Subscribers: Some businesses focus on increasing their subscriber base on various social platforms. You should keep a count of subscribers before the campaign starts. Whether you want followers for Facebook, subscribers for YouTube, email subscribers for your newsletter, it’s essential to keep the initial count to find the ROI.

Calculate Your Expenses: Without knowing your total expenses, you can’t calculate your ROI. In ROI, ‘I’ stands for Investment, which is the total spend you have made on influencer marketing. Return on Investment requires outcomes minus expenses.

When running an Influencer Marketing Campaign, you should keep track of spending on every content. This will help you bifurcate the ROI on a content basis.

So, these are how you should consider measuring the ROI driven by influencer marketing. The best way to work with any influencer is to understand how they work. Christina Calph is a renowned influencer artist that has made appearances in TV shows and movies. She gives you a detailed glimpse of what and how she works.

You should review other influencers on the same basis to ensure you are working with the right influencer.

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