A well-tracked influencer marketing campaign is the one that reaps benefits for the years to come. It does not last for a day because the success metrics are replicated in every influencer campaign to make the most of each. With influencer marketing becoming a regular marketing model across verticals, it becomes necessary to understand why tracking influencer marketing campaigns are necessary.
Here are the four major benefits of tracking influencer campaigns that you must know before you begin your influencer marketing.
Check the Return on Investment (ROI) to Continue/Discontinue:
ROI is simply the money you get back for every $ spent. Influencer marketing has been favored by marketers worldwide because of its high ROI. Though ROI is usually measured financially, when it comes to influencer marketing, you can also check for returns in terms of awareness and earned media value.
Calculating the ROI of your influencer marketing can help you know if the influencer marketing is working favorably or not. If influencer campaigns can bring you good results in terms of sales and awareness, you can continue with your campaign.
If your ROI shows unfavorable results, and if you’re losing money consistently, then something is not right. You must either work with different influencers or change your influencer campaign-style until your ROI begins to increase.
Measuring your ROI is the best way to continue your influencer campaigns and create effective campaigns in the long-run.
Measure the Authenticity of your Influencer Marketing Campaigns:
Your influencer is claiming that your post has reached thousands of users all around the world. Her analytics validate her statement too. But, how do you check if the users that are seeing influencer posts are real or bots?
Social media platforms are filled with bots and in most cases, it’s not possible for influencers or businesses to distinguish between the two. Other than bots, there are multiple cases of influencers using a comment or like pods to increase the engagement on their posts. It would be impossible to know the authenticity of your influencer campaign if you are not correctly tracking it.
However, if you are using HypeAuditor to manage your influencers, you would be protected from such scams with its engagement fraud check. The campaign tracker checks each influencer campaign for fraud and mentions if the engagements are authentic or not. A green tick from HypeAuditor can relieve you as it means your influencer has genuine engagement.
Compare and Work with the Right Influencers in the Long-Term:
Wouldn’t it be nice if you could know which influencers are bringing in more engagement and conversions for the same amount of dollars spent? Or, knowing which influencer has a better cost per engagement (CPE)? The ability to discover such influencers will be beneficial for your brand in the long-term.
With HypeAuditor’s Campaign Tracker, you can track and compare the performance of each influencer involded in the campaign. The lower the CPE score, the better because it means that an influencer provides engagement at a lower cost. The AQS (audience quality score) helps you in understanding the quality of the audience. Influencers with high AQS, high engagement, and low CPE are the ones you should target for your campaign.
You can use the comparison chart regularly to pick the influencers you would want to collaborate with again.
Find the Perfect Collaboration Platform for your Business:
When you track your influencer campaigns, you can learn which social media platform is performing best with your influencers. Be it Instagram or YouTube or Tik Tok or any other social platform, your influencer’s performance also depends on the social media platform.
If you notice that your YouTube influencers are giving better results than your Instagram influencers, you have found your answer. The results may vary based on your niche and business model. You might also notice that certain influencers work better with certain types of posts. For example, some influencers could be good for Instagram stories while some are more suitable for IGTV.
Carefully analyzing influencer campaigns and tracking the smallest details can help you find these answers. And, knowing this valuable information can definitely help you in building wise and efficient influencer collaborations in future.
While “Analysis Paralysis” could happen to anyone, the right way to conduct influencer marketing is to track influencer campaigns. The benefits above clearly state the positives aspects of conducting a thorough influencer research when an influencer campaign is ongoing or over.
If you have any additional benefits of tracking influencer campaigns, please share with us in the comments below and we will be happy to add.