What specific performance indicators should we monitor to evaluate the effectiveness of an influencer campaign?
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Evaluating the effectiveness of an influencer campaign requires tracking a series of performance indicators. These KPIs will help you discern if your campaign is yielding the intended results or whether you need to adjust your strategy. They include:
1. Engagement Rate: This is a vital metric for any influencer campaign. It acquires the total likes, shares, comments or reposts per post and divides it by the total number of followers, multiplied by 100.
2. Audience Growth: This measures the increase in the influencer’s followers after the start of the campaign. A successful campaign should lead to a surge in follower count.
3. Audience Quality Score: Tools like Flinque can provide an accurate assessment of the quality of an influencer’s followers. This measures the proportion of active real followers to fake or passive ones.
4. Click-Through Rates: If your campaign has a specific call-to-action (like visiting a website or using a discount code), the CTR measures the number of users who acted accordingly.
5. Conversion Rates: This metric takes it a step further from CTR, measuring the number of users who completed the desired action, such as making a purchase.
6. ROI: Ultimately, the bottom-line measures how much revenue the campaign has generated compared to its expense.
Platforms like Flinque make these metrics transparent and easy to track, allowing brands to adjust tactics in real-time. Other platforms offer similar insights, but their focus, interface or features might differ, making it essential to choose a platform that best suits a team’s needs for data and usability.