Influencer Marketing (and native advertising) represent an effective way to reach your audience from a trusted influencer voice. Your ads aren’t getting lost in the noise of direct advertisement that’s often hidden from view by ad blocking software.
Dedicated Media found sponsored posts are viewed 53% more than banner advertising. Influencer marketing drives awareness for your brand through blogger channels you may not otherwise have access to. The ideal goal is to build brand authority and turn your customers into advocates. You need to track the right metrics on your influencer marketing campaigns to determine whether the ROI is right for your company for lead generation, brand authority, and sales.
Editorial metrics for influencer campaigns concern the numbers directly related to the content posted on the influencer’s site. Tracking the editorial aspect of the native advertising campaign helps your company determine whether you’re sending the right message to your targeted audience.
What to Track
Here is an overview of the most important metric to track for analysing your content’s performance:
- Visits on the article or “reads”: is the easiest metric to track. It requires that you get access to your influencers’ analytics in order to extract the number of people who read your article. This metric is not what is called an “engagement” metric as you don’t know whether people interacted with your content or not.
- Time spent on the article indicates how relevant the content is for the audience. It is a great metric to know if you targeted the right people but also delivered the right content.
- Bounce rate gives a nice overview of the overall attractiveness of a website. This metric tells if people were seduced enough to click on another link on the page. A high bounce rate usually reflects a poor website architecture or a lack of links to relevant content. But it isn’t necessarily a bad thing for you: in the case of an article, it is usually high because the reader probably found the information he was looking for. Also, if what you want is clicks to your site, note that a reader clicking to go on your website will be considered as a bounce for your influencer’s site.
- Conversion rate attests of the campaign engagement performance. How many people clicked on the redirectional link to your website?
- Reach depends on the sharing metrics. It gives a great idea of how many people were potentially exposed to the content outside of the website direct audience.
- Social media shares and reposts. Sharing metrics are essential to know who was exposed to your message, where and how the content has been shared. Therefore, you need to make social sharing easier and obvious for your readers.
- Inbound links to your website provide great SEO value. They are key elements to the post’s ranking on search engines and they offer the opportunity to promote other content by quoting them. This metric lets you know whether your content is getting quoted and noticed or not.
How to Track Editorial Metrics
Content performance is usually easier to track directly through the distribution channel. Each social media platform has a set of analytics tools and apps to help supervise posts. Here is a short list of websites to use in order to measure your editorial content performance.
- Twitter: Twitter Analytics, Tweepsmap, Twitonomy
- Facebook: Facebook Analytics
- Linkedin: Linkedin Analytics
- Website: Google Analytics, Crazy Egg
- Social Media: SumAll, Klout
Business metrics come into play once your audience stumbles upon your influencer marketing or native advertising post. These metrics track what the person does when they come to your site, and whether this inbound traffic is valuable to your business.
What to Track
- Visits to your website is the first metric you will check to know if the campaign has been a success and met your goals. Visits shows how well the post redirected people to the website.
- Cost per Click (CPC) is the average cost for each person who clicked on a link in the article on the influencer’s website. It also gives you an idea of your engagement rate (number of clicks compared to the number of reads on a post).
- Cost per Lead (CPL) is often compared to CPC. It is the average price for each lead generated out of your visitors (a person left its contact details on your site so you can get in touch). it is easy to calculate: (Number of clicks x CPC) / Number of leads.
- Return on Investment (ROI) is the money you earned net of what you paid for your influencer rewards (money, free products, other incentives). It lets you know if your campaign is profitable and how much so.
- Audience growth rate is the growth you see in your own audience (newsletter subscribers, social media followers, etc.) after your campaign targeting your influencer’s audiences. It is important to track this one, as you want to be able to reactivate this audience on your own. Also, track which publication has the most impact on your audience growth rate.
- Brand mentions the number of mentions on social media and other websites is an important metric in assessing the impact of influencer marketing in your branding strategy. Track the growth overtime, and the publications driving the most mentions.
- Sentiment is a great metric to know how the brand is considered in the reader’s mind. How is the Brand perceived? What is its personality and its goals according to people? A simple semantic analysis on mentions gives you this information.
- Total revenue generated by the campaign is the ultimate business metric. It shows the impact on sales of the additional reach you generated.
- Average order value might be useful to estimate the customer’s profile and the effectiveness of the conversion funnel. Try to understand if your new audience buys more or less than your other acquisition channels.
- Conversion rate is the number of sales (or subscription depending on your model and campaign objectives) you get out of the total number of clicks to your website. Work on improving your conversion rate by driving traffic close to the purchase page and A/B testing the efficiency of your landing pages.
How to Track Business Metrics
- ROI: Kissmetrics
- Brand mentions: Hootsuite
- Average order value: Ecommerce software
- Audience growth rate: Google Analytics
Influencer marketing campaigns continue to grow in popularity, as 63% of marketers say they’re focusing on increasing their native advertising budget. This advertising tool is effective, but only if you know what metrics to watch to gauge the effectiveness of your influencer channels, content style that works with the audience, and the tools to understand the data received.