Influencer marketing can be used to drive a variety of results for your company. When structuring your influencer marketing program, you should have these goals of influencer marketing in mind:
Increasing brand awareness
Brand awareness is a valuable tool to help increase the lifetime value of the customer. Customers may not immediately convert when brand awareness is increased, but they will still remember your brand when they move forward with a purchase, which means that brand awareness assists with conversions and also keeps your brand at the forefront of customer’s minds.
Reaching new audiences
New prospects are a crucial part of the growth process for your store. Sharing with an influencer’s audience allows you to find people who will love your brand. They will eventually connect with your brand if they are interested, at which point you can remarket to them and try to get them to convert.
Conversions are hard to make with only one contact, but it is possible for an influencer to generate sales for your brand because of the trust they hold with their audience. Sales can be a direct way to find out if your influencer campaigns are successful.
Improving brand reputation and advocacy
Using an influencer to promote your brand can create a positive impression of your company for audiences. This can help to either create trust with your brand, or repair bad experiences. For brands struggling with bad reviews or a PR incident, influencers can help to build the trust back up in an authentic, natural way.
Driving lead generation
Lead generation is essential to growth. Leads are slightly warmer than just new audiences and are receptive to marketing from your company. Make sure that if the influencer is sending people back to your social profile or website, that you are using lead capture tactics to ensure that you can remarket to them later on (e.g. get them to follow you on social media, or capture their email address on your website).
Key metrics for influencers can be any measurable analytic that helps to prove any of these goals. Be sure to have baseline data to compare your influencer efforts to, so that you know if they were able to improve your overall traffic, conversions, or referrals. Key metrics to consider:
Uses of a coupon code (if you are tracking influencer referrals by coupon code)