To simplify it further, here is the 4 R’s rule:Reach; number of followers an influencer addresses through social media;Relevance; focusing of communication based on the relevance that a brand holds with respect to a certain audience combined with the relevance of the influencer to its audience.
Resonance; ability to evoke feelings, emotions and values that are shared by the influencer and his followers (this is the substantial difference between Influencer and Testimonial previously mentioned);
Relationship; relationship that each brand wants to establish with the chosen influencer
: KPIs and BenchmarksIt is important to create a good influencer marketing strategy, but to really understand if it is a success, you need to monitor its progress.There are indicators called KPIs (Key Performance Indicators) that can help you control the performance of your campaign:
Conversions; monitoring the conversion rate is useful for understanding how many people have actually carried out the action envisaged by the campaign; in fact, the goal is not always to increase sales, other objectives could be the subscription to the newsletter, clicks on a particular link, the like on the Facebook page, etc …
In any case, this KPI will help you monitor the action taken by visitors.Referral traffic; represents the traffic that the campaign brings to the site; the most used tool to monitor this aspect is Google Analytics.In addition, this point also includes other analyzes such as:
New visitorsTraffic sourcesTime spent on the siteEtc…
Audience growth; it may happen that the first step towards the goal is taken, arriving on the company’s website, but then the customer is not interested and leaves the page forgetting about you.If the target of audience growth is not achieved, it is necessary to understand how many visitors actually remain in contact with the company and how many forget.
Engagement; once we understand how many users we have reached, we must also understand how we have succeeded; engagement is for exactly this and is determined by various factors such as: Likes, shares, video views, brand citations.
The importance of the benchmark
All this KPI analysis could be useless without creating a benchmark; thanks to this methodology it is in fact possible to compare the data of the current campaign with the data prior to the start of the same.
This is the only way to understand if there are obvious improvements that justify the investments made or if there are errors or improvements to be made.
Tips and pitfalls of Influencer Marketing
Create a well thought out strategy; objectives, targets, timelinesSpend some time looking for the right influencer; do not stop at the first one that happens to you, find the right one for you even if it is not too famous, the important thing is that it has a good relationship with its audienceConstantly monitor your campaign; identify strengths and weaknesses and if possible modify the strategy in the race