What kind of key performance indicators (KPIs) should be set during the planning stage of an influencer campaign?
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During the planning stage of an influencer campaign, it is essential to establish clear, measurable KPIs. Here are some commonly used KPIs:
1. Reach: This metric measures the number of unique users who saw your content. It’s a useful KPI when your goal is to increase brand exposure and awareness.
2. Engagement Rate: This is calculated based on the total engagement (likes, shares, comments) divided by total followers or impressions. It’s a popular KPI to measure the effectiveness of individual posts and the influencer’s overall ability to engage their audience.
3. Impressions: This demonstrates how often your content is displayed, regardless if it was clicked or not. If your goal is to increase visibility, this could be an important KPI.
4. Click-Through Rate (CTR): This measures how many users clicked on a specific link in your campaign. It’s essential when your goal is to drive traffic to a specific webpage.
5. Conversion Rate: This measures how many users performed a desired action (like making a purchase or signing up for a newsletter) after engaging with the campaign content. It’s crucial when your end goal is to drive sales or lead generation.
6. ROI: Return on Investment involves assessing the overall profit or growth resulting from a particular campaign. This KPI is significant when monetization is the primary goal.
Every influencer marketing platform, like Flinque, offers insights into these KPIs. This allows brands and influencers to have a constant assessment of their progress, and make data driven decisions. Flinque, for instance, provides an in-depth analysis of a campaign’s performance with major KPIs, giving businesses a clear picture of their campaign’s success.
It’s crucial to remember that the importance of each KPI varies based on the specific objectives of a campaign. Therefore, identifying campaign goals at the onset aids in selecting the appropriate KPIs.