Ways to measure ROI for Influencer marketing
Influencer marketing is the process by which brands leverage well-known figures who have influence over their target markets to promote their brands.
In any Influencer Marketing campaign, the most will be the result and a sign to evaluate how effective it is. There are many finished figures to create a complete report. Which eventually helps to create an overview, from which to draw on a lot of experience for the next time. One of the most important indicators that can not be mentioned is ROI.
ROI is the return on investment which is the ratio between net profit and investment costs. After all it is due to investment in a number of resources. High ROI means the benefit of investing favorably for its cost.
Influencer Marketing is considered by brands as one of the fastest and most effective ways to help brands reach customers and increase brand identity. In fact, the majority (92%) of customers trust the advice or sharing of an influential person rather than traditional ads. (Forbes -1).
But to measure the effectiveness of Influencer through the campaign, this is the most discussed problem of brands. The brand always asks the question: “Based on where to know if the Influencer Marketing campaign is effective?”. The following article will help brands better understand ways to measure ROI rates for Influencer Marketing campaigns.
Join Aaranya advertising to learn about ways to measure ROI rates for the influencer marketing strategy below.
Tracking Click System
The numbers on social media will help the brand measure the effectiveness of influencers. For example, visits, clicks, likes, comments, shares, and how much your audience will interact with influencers matter most. For these numbers, your brand must always have measurable forms. Your brand can achieve these through links, promo codes, and UTM parameters. In order for the campaign to be measured effectively, Aaranya advertising recommends that brands start working with micro-influencers. Because they’re the people who keep their audience engagement and always influence the audience in their community. So they’ll reach more targeted customers for their brand’s campaigns. According to a study from Experticity, 82% of consumers will make more purchases based on tips or reviews from influencers. (Experticity – 2)
Using the Tracking Link system is a mandatory condition when a brand wants to work with influencers, as influencers sometimes don’t have enough time to give you specific numbers for your brand to measure for your campaign. So the brand must have a good tracking mechanism, which requires influencers to use links so that the brand can measure the parameters on the Influencer post to conduct ROI measurement for influencer marketing campaigns.
Create a Landing Page
Brands should attach their Influencer Marketing campaign to the landing page to measure influencer ROI, through which Influencer will have many ways to help the brand attract customers to Landing Page. So brands should allow Influencers to join their communities, giving influencers opportunities and value, as long as influencers drive your audience to your brand link. When on the Landing page, as a brander, you can encourage customers to experience the brand and capture their lead information about measurement data and ask them to leave contact information so that the brand can be easily communicated in the future.
Interactions on the brand’s channel
If the brand’s campaign focuses on communication channels to attract customers to contact and identify the brand through that channel with Influencer. Consider engagement on social networks after partnering with influences. Does brand channels like Facebook or Instagram increase engagement?
Aaranya advertising recognizes that new followers are important, and most importantly, for channel engagement to be effective is that brands must get the right followers. If your brand channel engagement is increased, you’ll learn that your brand has reached the right audience.
Share influencer content on the brand’s advertising platforms
Don’t just consider ROI that correlates directly with influencer posts. Your brand can generate more revenue from the use of influencer content on advertising platforms such as Facebook, Instagram, youtube, etc. With the presence of influencers will help customers have the most trust. established and easy to impress with the brand. And that will help the brand reach more new customers.
5. Measure followers and brand awareness
In this measure, from a social media point of view, brands can track the number of followers of your brand after influencer has created content about your brand. This can happen suddenly, and the number of brand interactions can increase rapidly in the early stages of the campaign launch. As for brand awareness, it can be difficult to measure because those numbers aren’t out there. But over time, the repeated exposure and the frequency of long-term content on influencers’ social pages, will help increase awareness for the brand’s target audience.
6. Social Media Review and Analysis
According to research by Sprout Social, 80% of Social Marketers use social media to increase brand awareness and more than half of them think measuring ROI is the biggest challenge (Sprout Social – 3). Therefore, it can be said that social media metrics like social interactions are the easiest numbers to follow. The brand should try to track its activities on social media channels such as Facebook, Instagram to keep up with the engagements on it, changes in total followers, new followers. Through analyzing these data, brands can evaluate the effectiveness of the campaign, the increase or decrease of social media visits, the increase in sales thanks to influencer activity on Social. Media or not?
7. Value of Earned Media & Share Media
With Aaranya advertising briefly analyze the media values that will effectively support the brand’s influencer marketing campaign:
- Paid media (paid media) is the post created by content by an influencer, PR posts and comments under the post will be counted as paid media.
- Own media are articles that your brand owns, such as fan pages, YouTube, Instagram, and comments under posts on these social channels. • Earned media are natural discussions, in which customers become the brand’s advertising channel.
- Shared media are shares of customers when they are interested in the information that a brand’s campaign brings. But to measure ROI, two values that brands should pay attention to are Earned media and Share media. These two values will help brands create effective influencer campaigns.
In terms of value, these two communication strategies are considered to be the same. But in fact, they are essentially different because one way is the word of mouth when customers actively talk about the brand or campaign. Most natural, but with Earn media, your brand must have valuable customer relationships to be effective. As for Share Media, which can influence more people, with a wider range when customers share content on their personal pages. It will surely reach new audiences from their personal pages. This will also boost campaign efficiency.
Brands partner with influencers and rely on Earn media values to measure campaign effectiveness. When promoting the campaign, what the brand wants is to receive positive discussions and in the most natural way. The customer will be the one who perceives the information and transmits it to others. And then the customer will be the person who helps brands promote campaigns through influencers. Influencer fan comments and shares also provide insight into the brand’s campaign.
8. Use Influencers to reach the right audience
Each influencer will have its own niche and audience, so brands can use influencers to reach target audiences for their campaigns. Influencer Marketing’s true value lies in its ability to deliver a more meaningful, engaging message to the brand’s target audience. Brands should create clear campaign messages and roles so that influencers can grasp them with certainty, which makes it easier for them to help the brand reach the right audience. It can be said that this is one of the most effective ways because influencers have a large audience community and are easily accessible to customers in the most natural way.
Each brand will have different ways to measure ROI for their influencer marketing campaign. In order to be able to recognize the effectiveness of the ROI measurement ratio. A brands should be on more sides instead of just sales or profits. Aaranya advertising is an Influencer Marketing platform coordinator. In addition to the mission of helping brands choose the most suitable influencers. We are also strategic advisors to help brands have the best Influencer Marketing campaign with target orientation. Spend the original word.
We are always able to meet the needs of our customers regardless of the number of influencers or less. Aaranya advertising has accompanied more than 5000 influencers and 500 brands in the journey of branding from the influencer marketing campaign. Marketing platform helps brands and businesses reach potential customers in a natural, innovative, and breakthrough style. Aaranya advertising also provides brands with campaign performance metrics. Which make it easier for brands to look back on their campaign launch journey.
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