The Ultimate Guide for Measuring Influencer Marketing ROI

Did you know that global marketers’ spending on Influencer Marketing is growing like crazy and is expected to rise 23.4% in 2023? And seeing these statistics, if you are not implementing the marketing strategy, you are missing a big piece of driving the audience towards your business. On the contrary, if you have begun working with influencers but are unable to understand the total results of your influencer marketing, here you go for the guide. 

For evaluating the success of influencer marketing, you need to be creative in tracking campaign performance and make sure the return on investment is greater than your company’s expenditure. Here are the six ways to weigh up whether your influencer marketing campaign was effective enough.  

5 Ways to Measure Success with Social Media Influencers

Let’s have a look at some of the tracking tools you can employ to have a better understanding of how your influencer marketing initiatives are performing. 

• Use Affiliate Links

When it comes to measuring influencer marketing ROI, use affiliate links. It allows the brands to produce a specific URL with a unique code and get to know how many people have clicked on your site and how many sales have been made by clicking on the site. This is how the influencers generally receive a commission on each click. You may ask them to insert your affiliate link into their posts so that you can track the engagement and monetize the users that click through. The best Wikipedia page creation service declares that doing this will let you see exactly who is clicking on which product and how many of them are making a purchase from you. 

• UTM Tags 

Without any doubt, UTMs are considered the most effective and easiest ROI tracker to employ. For this, you only have to add up some structured parameters to a link. Once a visitor clicks on the given link and accesses your website, the google analysis tool instantly notices it. With the help of the UTM code, you may demonstrate which campaigns brought in the most traffic. At the same time, UTM can create a big problem as they make links longer, which might reduce the believability of the website in the eyes of potential customers. For this, you may apply link shorteners to get around these drawbacks. 

• Devoted Landing Pages 

Link shorteners could be perceived as unreliable, making individuals less likely to click on them. Therefore, another method is to use a service provider who allows you to make use of branded links. A webpage generator can include a unique landing page for each influencer marketing campaign. Landing page technology companies commonly offer detailed traffic performance measures. They frequently let you employ Google Analytics, which allows you to recognize campaign performance data in a single report.     

• Unique Discount Codes

The influencers are unable to post the links on several websites, including Instagram. You just need to provide a special discount code to each influencer that they can share with their audience, and now it has become easier to track the number of transactions the influencer brought. You can utilize the discount codes to identify the set pricing for sponsored content and ease future collaboration. 

This also serves as a baseline for influencer marketers’ commission, as some of the companies just pay a percentage of sales that are made through the influencer. Whatever your goal is, customized discount codes help you to monitor influencer ROI more precisely. 

• Brand Engagement

Brand engagement is about how visitors react to your post and links. It all includes likes, comments, shares, retweets, and reactions that let you realize how effective your products are and how successful your influential marketing campaign has been throughout the period. Moreover, you may monetize the changes in your own followers’ rate and affection of ROI on your website. 

To evaluate engagement with your brand, count on the likes, comments, and other forms of interaction separately to identify how many people got engaged with your content after posting on social media. To track the engagement rate in a better way, you may witness how many connections weaken with time.