By now we’ve all heard the standard influencer marketing metrics that the internet claims can make or break a campaign. Referral traffic, trackable links, brand awareness metrics and engagement to name a few. But what do all of these standard metrics really mean, when you break them all down? For the newcomers to the Influencer Marketing world in 2017, what are the absolute musts for metrics when building and monitoring an influencer campaign?
At Mattr, we have our own ideas about what’s important for a brand to monitor and measure before, during and even after a campaign. Some of the most important metrics we promote to our clients fall under the umbrellas of brand fitness, brand alignment and brand budgets.
Brand Fitness: Monitoring the Online Health of Your Brand
Brand Fitness gives a detailed view of the ‘health’ of your online brand over a period of time. Generally, those metrics break down into the number of followers a brand has on Twitter, the number of fans they have on Facebook, their total YouTube views as well as their Google search volume. These engagement metrics can be customized based on a brand’s social networks and goals.
Another piece to Brand Fitness is a brand’s online Share of Voice – or how a brand’s share of social chatter and online searches compares to their competitors. Having a side-by-side view of social mentions as well as Google searches compared to rival companies gives brands a way to monitor developments in their influencer campaigns as they happen.
Brand Alignment: Are You Reaching the Right People?
Another feature of Mattr’s Influencer Marketing metrics is psychographic analyses of a brand’s influencers as well as an influencer’s audience. In other words, does the brand know the target audience they are looking to attract, and are the influencers they’ve hired for their campaigns reaching and aligning with those target audiences?
This psychographic analysis can start way before the actual influencer campaign begins. Through natural language processing algorithms, Mattr has the ability to analyze a brand’s own social audience and identify specific values, such as how green the group is, or how cost-conscious they might be. These values might help a brand identify target groups that are ideal for a specific campaign.
Next, Mattr can identify specific social influencers who hold those same values dear, and even further, can analyze the influencer’s audience to make sure they align with the brand ideals as well. This gives brands more confidence in hiring the right influencers, as well as more confidence that the right eyes and ears will be subjected to the influencer’s content. A win, win for the brand. Keep in mind that this psychographic analysis is also an ongoing metric, that can be tweaked as needed through a full campaign, or from campaign to campaign based on specific brand goals.
Brand Budget- Keeping Your Dollars in Check
A last metric Mattr monitors for our clients throughout the influencer campaign is the brand budget. The success of a campaign is often related to how much a brand spends, especially if those brands are smaller and have less resources to waste. How do we do this? We hire influencers for brands based on a Cost Per Engagement model that ensures that a brand’s influencers are performing, and that their target market is actually engaging. Mattr provides reports to keep track of spending and engagement, and allows brands to increase or decrease spend, and add or cut influencers, based on their influencer marketing goals.
If any of the above-mentioned influencer marketing metrics are important to your brand as you plan your 2017 strategy, give us a call to chat more about your options.