In this comprehensive guide we break down how any marketing manager can scale their influencer programs for maximum returns and set up their influencer marketing campaigns to give complete ROI transparency and tracking.
Influencer marketing can and has been one of the most lucrative marketing strategies for eCommerce brands. However, when dealing with content engagements, followers, likes and brands mentions, how does an influencer marketing manager track and measure true ROI on their influencer marketing programs?
Key performance indicators (KPIs) help you define whether or not your influencer program is working. During and after each campaign, you can examine progress based on the KPIs you established. It is common for
influencer marketing managers to adjust these KPIs as they gather more data from each campaign. That said, there are a few different KPIs that you should become familiar with: campaign-based; sales and ad spend;
and website traffic.
With campaign-based KPIs, your goal is to know the frequency with which your influencer program engages audiences. Additionally, campaign-based KPIs help you detect changes in this frequency over time. First, you will want to take stock of all the moving pieces within your influencer program.
How to create a team of influencers that align with your brand, how to calculate and track ROI on your influencer programs, the right KPIs you will need to track to scale, how to incorporate influencer marketing into your marketing funnel, and to determine the final ROI of your influencer marketing program.