As influencer campaigns wind down for the year, marketers will need to understand the value and impact of their influencer activations in order to prove its value and determine whether to continue the investment in influencer in 2020.
Today, some global advertisers spend as much as a third of their digital budget on influencers but continue to struggle to understand the real ROI in promoting their brands through influencer.
We know firsthand that influencers can add significant value to a marketing campaign. At a minimum, they can help brands reach a targeted audience and deliver broad awareness and scale. But many brands want more and are seeking a direct link between influencers and sales.
Brands working with influencers often engage in a highly tedious and time-consuming tracking process involving manually counting engagements and clicks in spreadsheets. To make matters worse, this method doesn’t even take into consideration sales tracking and conversions. Using UTM codes or coupon code tracking is a step in the right direction, but this too can be a manual, time consuming process.
For larger brands, tapping into influencer networks can help solve their problems. Tracking reach and engagement, managing influencer relationships, and content management are all valuable, but many of these influencer networks are limited in their ability to track bottom of the funnel metrics, such as clicks, orders, sales, and conversion rates. Marketers want to see the full picture and impact of their influencer marketing campaign performance.
At gen.video, we provide our clients with the full package – workflow management plus measurement and tracking to make their influencer campaigns as seamless and data-driven as possible.
Read on for our take on how brands can ensure their influencer efforts pay off in 2020:
1. Find the Right Influencers
Whether you’re searching for micro or macro influencers, having access to a large number of influencers allows brands to find the right influencers for their business goals.
At gen.video, we’re constantly sourcing and finding new influencers to add to our network and have relationships with some of the biggest influencers in tech, beauty, parenting, home, and beyond. Our platform uses past performance data to find the influencers who will move the needle for your brand.
2. Set Expectations
While goals may shift based on marketers’ seasonal needs and priorities, to measure the success of a campaign, it’s imperative to establish tangible metrics to evaluate what success looks like for your brand.
Looking to increase brand awareness? Launching a new product and want to generate buzz and social noise? Looking to reach a niche audience of Midwestern moms shopping for diapers? Create a library of high quality content for your brand? Establishing clear goals at the start of a campaign is key to understanding what to measure and determining whether your campaign was successful in what it set out to accomplish.
3. Special Offers
If the goal is to drive sales, consider providing influencers with valuable discounts, giveaways, and exclusive deals that offer time-based reasons for audiences to buy your products.
4. Advanced Measurement
Looking at traffic and conversion metrics can provide lower-funnel metrics to optimize campaigns and inform future strategy. Using a performance-based influencer marketing platform allows brands to track the entire customer journey - from awareness to conversion. Our platform gives brands the tools to collect data such as clicks, orders, engagements, and ecommerce sales conversions from each piece of influencer content.
5. Amplify Content
Reach more targeted audiences by creating social ads with high performing organic posts.