5 Tools to Track Influencer Marketing Campaigns
If 20 years ago you had introduced yourself as an Instagram influencer, absolutely no one would have known what you were talking about. Digital marketing was just getting started and social media had barely taken off beyond MySpace and AOL chat rooms. The evolution of the internet and these social platforms has brought about a lot of change, especially for marketing strategists and specialists. Nowadays, you can take your campaigns directly to the people by using influencers to promote your products.
An influencer is someone who hosts their own platform and has a personal brand that you pay to spread the word about your product. Through posts, videos, and pictures, these individuals get other people excited about your company and can spread the word in ways you never could have imagined. If you want to gain more loyal customers and bump your sales numbers, you may want to look into getting a little help from the influencer market. Once you commit to these campaigns, it's time to track the progress. Here are a few ways you can use business intelligence and analytics to track what is going on with your influencers.
1. Understand the accounts you want to work with.
Before you can begin tracking your influencer marketing, you have to know which types you want to commit to. There are two different influencer campaigns on the micro or macro level. A micro influencer is an account with at least 2,500 but less than 100,000 followers. These posts require a 7% engagement rate but will often go above that percentage. Micro-influencers are looking to expand their online presence and create their own niche, so they will often work harder to cultivate great content and feel like a friend more than a company.
On the other hand, you could choose to work with a macro-influencer who has above 100,000 followers. These may be celebrity influencers or other famous accounts. While these may have a larger reach, they usually have less involvement from regular social media users. Just remember that follower count only offers a certain amount of insight into your sales numbers, but they can be a great way to track your reach.
2. Follow trends and posts with AI and machine learning.
There are plenty of data science tools that can help you better understand your metrics. On social media especially, the best insights come from your algorithms and artificial intelligence. With machine learning practices, you can take historic data from different influencer marketing campaigns and see how you can interact better in the future. This form of deep learning can help you navigate all the social media platforms and create a higher engagement rate.
3. Make strategic decisions based on analytics.
Your analytics can answer a lot of questions about what niche you should be reaching. When you see predictive analytics, it is the best way to make strategic decisions based on actionable insights. Seeing the data science in real-time allows you to understand your marketing and find the right influencers for you.
4. Track sales based on coupon codes.
Your social media influencers are supposed to help you sell more products. Higher engagement with their posts should directly correlate to better sales for you. Consider setting up specific coupon codes for each influencer so you can track how well their Instagram posts are translating to revenue.
5. Have ultimate campaign goals for your influencers.
No marketing campaign can succeed without goals. If you really want to track these influencer campaigns, you need to set goals and promotion objectives upfront. This way you can track exact data sets and see how this popular tool is working to your advantage.