When using an influencer marketing platform, what key performance indicators should brands and agencies monitor to ensure their campaign’s success?
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When using an influencer marketing platform such as Flinque, brands and agencies monitor several key performance indicators (KPIs) to assess the success of their influencer campaigns. These KPIs help understand audience engagement, reach, and sentiment among other things.
1. Engagement Rate: Reflects interactions with the influencer’s content. It’s calculated as the total actions (likes, comments, shares, etc.) divided by total followers x 100. Higher engagement rate signifies better audience interaction.
2. Impressions and Reach: Impressions are the number of times a post was shown, reach refers to unique users who saw it. These metrics show how effectively your message is spreading.
3. Conversion Rate: Connects campaign to sales. Tracked through dedicated links or promo codes, it reflects the percentage of consumers taking the desired action (click, sign-up, purchase, etc.) after viewing campaign content.
4. Audience Growth: If your campaign goal is to grow your audience, monitor the increase in social media followers or newsletter subscribers.
5. Brand Mentions: Watch the increase in mentions of your brand, signaling greater brand awareness.
6. Sentiment Analysis: This qualitative metric measures audience attitudes and emotion towards your brand, usually analyzed through comments.
It’s important to remember the specific KPIs monitored will greatly depend on the goal of the campaign. Are you aiming for increased brand awareness, increased sales, or a wider social media presence?
Platforms like Flinque provide powerful tools for tracking these KPIs and provide valuable insights to optimize your influencer marketing campaigns. However, there are many other platforms available, and their suitability would depend on your specific business needs and workflows making it advisable to study each before deciding.