Should Sales Be The Only Factor Used To Measure The ROI Of Influencer Marketing Campaigns?
Should sales be the only factor that is used to measure the success of influencer marketing campaigns? If this question is answered in the negative, what other factors should be considered as the best measure of success when it comes to influencer marketing campaigns? Influencer marketing campaigns are ways by which business owners achieve their marketing goals through alternative means.
Influencer marketing campaigns basically involve the use of some experienced group of individuals to pass positive words about your brand to the targeted audience. Rather than adopting campaigns that will help a webmaster directly reach his target audience quickly, influencer marketing approach involves focusing on specific individuals, also known as influencers. This category of individuals are deemed to have an impressive influence on the target market and if their services are employed, they could help your business achieve its marketing goals.
Influencers may include manufacturers, retailers, journalists, analyst, academics and much more. These individuals are said to have a huge impact in the marketing industry today. However, it is usually paired with other types of marketing strategies like content and social media marketing. But for this marketing strategy to be effective, influencer marketing campaigns are geared towards a social media platform which influencers will utilize to create awareness via their personal channels.
Most marketers are now adopting influencer marketing campaigns and the cost of employing the services of influencers is rapidly getting exorbitant. That said, the need to have a reliable ROI measuring tool becomes expedient. Considering the cost of influencer marketing campaigns, it will be wise for every business owner to determine whether the means justifies the end.
It is reported that the findings of a market research suggest that marketers will spend up to $100,000 on influencer marketing campaigns this year. This is said to be a huge increase from the spend in 2016, which is about $50,000. Although measurement is important, other reports suggest that it the greatest challenge of up to 65 percent of business owners.
Measuring the outcome of an influencer marketing campaign (sales) is mostly used by marketers to determine the success of such campaign. However, many marketing experts believe that even though sales is the most important, it should not be the only instrument used to gauge success. The increase in general web traffic is an important way to measure the success of an influencer marketing campaign.
Success can be also be calculated based on the number of leads generated and the level of brand awareness created. Employing the services of a professional and sophisticated market influencer for a longer term will help most businesses to achieve marketing goals with much ease. In terms of the outcome of sales and conversions, it is also important to monitor the behavior of customers throughout the purchasing procedure.
online business owners can also utilize analytical and attribution tools, which is said to offer a multi-channel view of the entire customer purchase journey to measure the success of influencer marketing campaigns. This will help business owners to know the value of market influencers based on the personal marketing channels of such influencers.
Although the objective and goals of every influencer marketing campaign are sales, conversions, increased brand awareness, lead generation, and engagement, it is also important to strengthen the relationship between business owners and new customers. Maintaining and furthering a good business relationship with new leads will help business owners to further secure the resources invested into influencer marketing campaigns.
In a nutshell, it is all about employing a competent influencer marketing service that is willing to deliver results and drive your business to your desired expectation.
Categorised in: Marketing
This post was written by Webpinas Online Solutions
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