How to Track Influencer Marketing Effectiveness

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Content
Some numbers
Why does it work?
How to track efficiency
We measure ROI!
And that's all?!
How not to waste your budget – avoiding scammers
Resume
We see so many ads these days that we unconsciously learn to ignore telegram directory them more and more. Users develop what is known as “banner blindness.” At the same time, we still often make purchases based on the advice of friends, colleagues, or simply people we respect.

All this led to the development of a special marketing tactic - when the advertising message is delivered not by the brand itself, but by some influential person. At first, these were celebrities (actors, singers, athletes), but with the rapid development of social networks, ordinary people with influence in certain circles entered the marketing field.

This tactic is called Influencer Marketing and has shown impressive growth in popularity since 2015. Why this happens, does Influencer Marketing really work and how to track its effectiveness – read our article. As a bonus, at the end of the article we provide a solution to combat fraudulent bloggers (yes, there are such people!).

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Some numbers
Convince and Convert back in 2016 convinced everyone with the results of their research that influencer marketing works. And not only does it work, but it is 11 times more profitable than display advertising.

Influence marketing continues to grow in popularity as one of the most effective advertising channels, and yet its idea is far from new. Influence marketing was first discussed back in 1940 after E. Katz and P. Lazarsfeld published their work “People’s Choice”. They were the first to propose a model of two-level information flow: ideas are transmitted from the media to opinion leaders, and from them to the masses.

With the development of technology, this strategy moved to the Internet and then transformed into cooperation with opinion leaders on social networks.

Why does it work?
The audience of some stars on the channels of popular YouTube bloggers is comparable to the audiences of the largest media outlets. The demand for advertising continues to grow. One-time cooperation flows into permanent representation of the brand. For example, Yuri Dud is the ambassador of Alfa-Bank, and Sasha Spielberg represents Cornetto ice cream. So why does influencer marketing work? Its basis is personality, not just advertising. Respect for this or that person and trust in him.

The advertising message does not interrupt the content we need and does not loom as an intrusive banner, but is neatly integrated into the information we are interested in (yes, sometimes it is very important for us to know where Leonid Parfenov had lunch today)). This is how native advertising works, one of the representatives of which is Influencer marketing.

How to track efficiency
In order to properly track the effectiveness of your marketing campaign, you first need to define its goals. To increase brand awareness or increase audience trust, get a certain number of sales, clicks to the site or attract a new audience.

Based on specific goals, think through a strategy, create a brief and select the right opinion leaders. Using automated influencer marketing platforms simplifies the task many times over. The following players are especially popular in Russia:

LabelUp;
EPICSTARS;
Prolog.yt;
TOP bloggers;
GetBlogger and others.
On the platform, you will be able to find out all the information about previous advertising interactions with the selected person. For example, for targeted advertising, it is necessary to study such metrics as:

General audience;
Average number of likes per photo publication (regular and advertising);
Average number of video views per 1 video publication (regular and advertising);
Unique reach of one post in stories;
ER (engagement rate) – audience engagement index, etc.
After publication (at least three days later, preferably 1-2 weeks later), collect the following data:

Number of likes;
Reach (unique views of publication);
Impressions (not unique views of a publication);
ER post;
Number and tone of comments;
Engagement by contest hashtag.
These metrics will show you how much brand awareness has grown, how engaged the audience was, and how effective the post was overall.

We measure ROI!
Sales, growth of subscribers on the brand's official pages, and clicks to the website will show the final profitability of the campaign.

To accurately understand how many clicks a particular post has generated, use UTM tags. To accurately track sales generated by collaborating with an influencer, come up with a unique promo code that the opinion leader presents in an advertising post. Using a promo code should be beneficial to users, so be prepared to provide some bonuses (discount, gift, etc.).

Let's calculate the return on investment using a specific example
You sell divine toothbrushes. You chose a star with a snow-white smile and paid him 50,000 rubles for a small ode to your product. After the advertising post was published, you received the following figures:

The post was shown in the feed 50,000 times, which means the Cost per Impression is 1 ruble. Our post was liked 7,000 times, hence the Cost per Like is 50,000 rubles/7,000 = 7.14 rubles. The Cost per Comment is calculated similarly .

We calculate the Engagement Index (ER) of this particular post: we take the number of likes, add the number of comments divided by two (since many people leaving comments previously liked this post, and we should not sum them up), divide by the number of subscribers of this blogger and multiply by 100%. 7000 + (200 / 2) / 70,000 * 100% = 0.1%

The promo code that our star presented to her subscribers resulted in 100 sales for a total of 60,000 rubles. We calculate using a simple formula CPL (Cost per Lead) Cost of a lead . 50,000 rubles / 100 = 500 rubles - the cost of an attracted buyer. We calculate the Cost of Sale CPS (Cost per Sale) in the same way.

Cost per Acquisition will show how much each new subscriber cost you. After the post was published, 200 people subscribed to the brand's official page, which means the CPA is 250 rubles. And the most important indicator of any advertising campaign: ROI = (income - expenses) / expenses * 100%. (60,000 rubles - 50,000 rubles) / 50,000 rubles * 100% = 20%