13 Ways Businesses Can Measure The ROI Of Their Influencer Partnerships
While influencer marketing is not new, it’s currently a rising tide many companies are exploring, especially to reach younger consumers who spend a lot of time online. It’s a strategy that can have multiple benefits. Many influencers are perceived as being more relatable and authentic by consumers, making their recommendations more valued. Further, they speak directly to and share the characteristics of very specific audiences that many brands want to target.
Yet, working with influencers needs to come with a measurable return on investment—otherwise, what’s the point? How can companies measure the ROI of their partnerships with influencers?
6. Focus On Earned Media Impressions
Earned media impressions are the best way to measure the ROI of an influencer campaign. When the influencer resonates well with a brand’s target audience and the content that supports an influencer campaign speaks to their fans, then well-planned campaigns can drive significant social interactions (likes, comments and shares) and in turn, earn loads of impressions for your brand or product.