KPIs for Influencer Marketing

When partnering with influencers, it is important to measure the results to improve upon future partnerships and influencer marketing campaigns. In order to measure the effectiveness of the campaign, set the overall goal of the campaign first. This will help you determine the metrics to use in determining success. For each of the following goals, we’ve listed possible ways to measure success. Depending on how your store is set up, there may be even more ways to determine the impact of an influencer on your brand.

Goal: Increasing Brand Awareness

Look for increased: 

  • Engagement on your social profiles
  • Uses of your branded hashtag or mentions of your social handles
  • Visits to your social profiles compared to previous period

Goal: Reaching New Audiences

Look for increased: 

  • New likes on Facebook, followers on Instagram, or subscribers on YouTube
  • New visitors to your website from that referring channel
  • Visits to your social profiles compared to previous period
  • Comments or questions sent via social media

Goal: Generating Sales

Track with a coupon code unique to the influencer or an affiliate/tracking link

Look for increased: 

  • Sales from that referral channel (if sales from Instagram spikes, then the influencer contributed to sales)

Goal: Improving Brand Reputation or Advocacy

For a brand’s reputation, most of the key metrics will match increasing brand awareness. However, the goal of improving brand reputation or advocacy is that the brand awareness will have a positive connotation. 

Look for: 

  • Positive mentions and tags on social media
  • Positive reviews of the company and products
  • Positive engagement on your social profiles

Goal: Driving Lead Generation

Look for increased: 

  • Email signups from your website or social profiles
  • Likes on Facebook, Instagram, or other social profiles
  • Entries into a giveaway
  • Inquiries into your brand’s services or products

If your influencer campaign wasn’t successful…

Don’t fret! Influencer campaigns aren’t always about the immediate result. Your influencer’s mention or content will have a life past the initial posting and your brand now has a slightly larger digital footprint for your prospective customers to find.

Here are some considerations to help improve future campaigns: 

  • Did your influencer follow the instructions? Were the instructions too laborious to follow correctly or too sparse to provide sufficient guidance?
  • Is your brand explicitly mentioned? You may need to clarify with the influencer how the brand and product is to be mentioned in the content that they are creating. Do they need to remember to tag you? Or did they forget to say the name of the product? Making sure that audiences know the brand and product names are important to the success of the campaign.
  • Do you need to boost or fund distribution of the content in order to reach more people?
  • Was the content shared high quality? If you’re not pleased with how the content turned out, you may need to explain your guidelines again or move on to another influencer. 
  • Were you working with micro or macro influencers? Remembering their follower counts and potential reach can help you determine the best influencers to work with in the future.
  • Could posting time be improved? Check out this article by Later to see if your post was within the optimal window.
  • Could the mechanics of the post be improved? The hashtags, tags, location, mentions, and even filters are all variables that can be modified to improve performance. Keep track of what seems to be working and what seems to perform poorly so that you can pass this information along to the next influencer who posts about your products.