Rethinking influencer marketing and how to measure success
Influencer and brand partnerships prove that content creators are an effective way to promote sales, build brand awareness and increase your audience following. There are many different forms of partnerships from trade to paid and a recent survey by Sprout Social showed that 51% of businesses plan to use influencers in their social media plans in 2024.
In order to successfully collaborate with influencers, you have to find the right partners. Identifying the right influencers or content creators is a top priority. A key factor to keep in mind is audience – know who your target audience is and make sure their audience matches with that. If you are going after a foodie crowd you want to find a foodie influencer.
Secondly, know your budget – there are different levels of influencers, based on their audience of followers and that can dictate the types of opportunities available for you. Also set your expectations up front, the key to measuring success of a partnership is being able to communicate performance so you must ensure that is part of your written agreement, even if it is just a casual agreement through DMs.
Things that you should consider when measuring successful campaigns are reach and impressions, audience engagement, audience growth, website traffic, and conversions.