In today’s modern landscape of running popular influencer marketing to positively affect your business growth. After the other steps in your influencer marketing strategy such as optimizing, campaign support the next step is the ROI analysis in your overall influencer marketing strategy.
ROI stands for return on investment and an analysis on this will help your business figure out a collective goal and understand what you are spending on.
Understanding your ROI is important as you can focus on the type of metrics that you are trying to achieve. There are a lot of tools that you can use to measure, track and improve your return on the investment that you put into your business.
How to get started with my ROI analysis?
First of all, it is important to be aware of the type of the raw data that you are using as a reference to start with some web analytics.
This kind of data have metrics which can help you to report data and the analysis of ROI, which can help you understand in analysing web data and how your campaign is going so far.
What are some metrics to consider for your ROI analysis?
- Traffic to your website:
With an analysis of your ROI on the data and can cause an increase in traffic and see the engagement of new users on your platform. These kind of metrics can be used to measure the performance of your campaign, without exposure and awareness to different potential customers.
- Measuring data of sales:
You can measure the metric of sales to the influencer marketing and Google Analytics eCommerce tracking can directly analyze and understand to see if the sales have increased after your campaign. A rise in sales can be directly correlated to the running of a promotional influencer campaign.
- Growth on social media channels:
With a successful influencer marketing campaign, you can see the influx of growth on popular social media channels. There is a massive amount of new users and followers which can be obtained at the top of the sales funnel. Understanding the growth in social media is an important metric in the growth and development of the community.
- Tracking referrals:
It is important to always keep a track of the referrals and understand where they are coming from. Knowing where your referrals are coming from and seeing whether your influencer marketing campaigns are working is a good metric. You can understand which strategies are working or not.
- Growth of users:
An increase in the number of users who land on your website page is a good metric and indicator, to understand the influencer marketing campaign was successful or not. This can be utilised in raising your overall brand awareness as well as the exposure that your business receives.
- Insights on influencers:
Understanding the data from your influencers by assessing certain insights which are proven to be useful to understand how they affect your business as an influencer. Thus, these are a few metrics to consider which can have a positive effect on your business growth by understanding the ROI analysis of the data of your business.