It’s #MeasurementMonday, and we are discussing the very first step in measuring any social media or influencer marketing campaign — defining success metrics.
If you do not know exactly what you should be measuring, then how can you measure it accurately?
Just as you wouldn’t start playing a soccer match without fully understanding what you have to do to score, you shouldn’t start a marketing campaign without defining what your “win” will be. One of the main issues we see with online measurement today is that goals are not clearly defined, or the goals are to do everything at once.
When defining success metrics, there is not a “one size fits all” standard, and success factors vary based on the goals of a campaign or brand, making it crucial to determine what your “win” is up front. Before launching an influencer campaign, we encourage our partners to decide which factors will make the campaign a success for their particular brand.
Top Three Reasons to define SUCCESS METRICS prior to launching a campaign
1. The strategic approach and the tactics for the campaign will become clearer.
If your brand’s goal is awareness, a blog tour and social media campaign may be ideal. If the goal is understanding a target audience better, executing a survey or focus group may be recommended. Perhaps you have the goal of leveraging an already existing conversation in a really powerful way on behalf of your brand, and in that case, a Twitter activation may fit the bill. There are many tactics that result in success for a brand, and having a clear objective will help determine the overall strategy and tactics that will deliver for your brand.
2. The whole campaign team (brand, agency and bloggers) are on the same page and pulling toward the same goal.
Everything from writing blog posts to tracking engagement and responses takes time and diligent work. It is critical that all parties understand upfront what the objective of the campaign is and how that can be achieved. This is especially important for the influencers representing the brand. The Motherhood’s research recently found that there is a noticeable gap between brands and influencers in terms of what they think works during a sponsored campaign, and agencies who specialize in influencer management can deliver success by bridging this gap. The campaign will naturally have greater impact when everyone involved is united and striving to meet one common goal.
3. You can identify exactly which metrics to evaluate for the program.
There are numerous metrics to consider when running and evaluating a marketing campaign (engagement such as comments, shares and likes; reach based on unique monthly blog views, followers and fans; SEO rankings; purchase intent and downloads, etc.). It can be time-consuming and costly to track and analyze every last one of them. Having a clear objective will help identify which metrics you should track and evaluate in order to accurately determine the success of your campaign.
So how does a defining your campaign “wins” help your measurement process? Below are some examples of possible campaign goals and success metrics:
If your goal includes building awareness…
Consider measuring brand mentions, SEO rankings, reach and/or impressions.
If your goal includes building your audience…
Consider measuring increased brand following or the increased share of voice on different platforms. Again, if we know this is the goal, we can tailor the campaign tactics and measure items such as the increase in followers, brand mentions compared to competitors or overall industry, search rankings and demographics.
If your goal includes increasing engagement…
Considering measuring the likes, shares (re-pins, re-tweets, etc.) and comments.
If your goal includes gaining social insight…
Consider measuring data found through surveys, online conversations and other social media listening tools. If your brand has questions related to product development, getting feedback from loyal customers and/or potential consumers is far more valuable than a number!
If your goal includes conversions…
Consider measuring link clicks, downloads, or purchases. This also requires its own set of campaign tactics, and measurement metrics such as tracking unique link clicks as well as downloads and purchases with a specific code. Be sure you fully understand how sponsored content leads to purchase, so that you can track accordingly.
The possibilities for campaign success are endless, but one thing stands true – you have to know the “win” factors prior to kicking off a campaign. Influencer marketing plays a huge role in the greater marketing space, and with the rise of ad blocking, it is beginning to replace the spend of traditional ad dollars. Influencers on social media have the power to share messages in an impactful and personal way that resonates with modern consumers. Be sure that you are accurately measuring your results so that they can be reported in a meaningful way that helps inform future campaigns.
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