The power of influencer marketing is unquestionable. Campaigns carried out by brands in partnership with influencers are excellent ways to attract new consumers and boost sales. To verify this, we must evaluate the ROI of influencer marketing campaigns. ROI is the acronym for return on investment. It makes it possible to measure the effectiveness of the investments made according to specific criteria.
Determine the objectives of your influencer marketing campaign
We rarely embark on an influencer marketing campaign without having determined what our objectives are. The indicators that will allow you to measure the effectiveness of your campaign are centered around your objective. If, for example, you want to improve your brand awareness, you will need to look at the number of new followers on your social networks or the incoming traffic to your site from campaigns. Either way, your goal should be SMART: Specific, Measurable, Achievable, Real, and Time-bound.
After choosing your objectives, you can easily analyze the KPIs (Key Performance Indicators) and thus measure the return on investment of your campaign.
Why is it important to analyze the ROI of your influencer marketing campaigns?
When you embark on an influencer marketing campaign, you are spending money. To know if this sum has been well invested, it is necessary to measure the return on investment. You will be able to notice precisely which type of action has been more efficient, which type of influencer has generated the most sales or interactions, etc. If you run multiple campaigns, you can (and even should) compare their results to see which were the most profitable.
To benefit from an optimal ROI, you must partner with influencers in line with your values, and whose community is interested in the services or products of your brand! To help you with this task, you can use an influencer platform. This tool allows you to find, according to specific criteria, the influencer who meets your expectations. Thanks to these platforms, you can even submit your campaign directly, and the influencers themselves respond to it! You will also find analysis tools to monitor the performance of your campaign.