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Measuring the Impact of Micro-Influencer Investment

micro-influencer investment

We previously established that micro-influencer marketing is cost effective with a higher ROI… but how do we measure micro-influencer investment?

The most obvious result marketing professionals would look at is conversions. Has there been an increase in revenue?

But first, you need to ask yourself this: what is your overall objective for your micro-influencer investment?

You can dive much deeper into their impact if you set clear goals within your influencer campaign.

Is it for visibility, gaining new members or increasing engagement? Or is it simply sales driven?

After that, and you have decided which micro-influencers you’d like to work with – start tracking everything.

Before your micro-influencer investment… 

Have a look at the current engagement rates of each micro-influencer you have in mind. They might have over 100,000 followers,  but how many of those are people actually engaging with their content on a daily basis? This would also indicate how many of their total followers are real, living and breathing, people.

Measuring their most recent posts determines if they’d be a good fit for a partnership.

During a campaign… Is there an increase in engagement rate?

Cost-per-engagement (CPE – amount spent per interaction) is an important long-term metric to keep in mind for when collaborating with influencers.

Engagement ranges from likes to comments to retweets. It is a good indicator to know how your audiences feel about your brand, and before, during and after your event. And to know that they are seeing the posts and it’s having an effect on them.

Answer these questions to measure the impact on engagement:

  1. How many comments did each post receive during the influencer campaign?
  2. How many people (followers, new and old) are liking and sharing each influencer post scheduled during the campaign?
  3. Have you gained new social followers during the influencer campaign?

From your findings, you should also be able to tell which message from which influencer post type resonated the most with your audience.

This is great to indicate whether your should continue the investment or change your approach.

Website views by tracking links

By asking your micro-influencers to track links to your website or registrations page, you can measure and analyse the impact they are having on their followers.

Answer these questions:

  1. How many website views are your micro-influencers pulling in?
  2. How many registrations have you had during the influencer campaign? Or how many tickets have you sold?
  3. If you have asked your micro-influencers to share a promo code with their followers, how many redemptions have you seen?

From your findings, you’ll be able to tell exactly how many of their followers are listening.

Measuring the above metrics will surely help you assess the impact your micro-influencer marketing strategy is having, and if you need to refine or redefine aspects of your strategy to increase your ROI.

As with every strategy, it takes time and constant real-time analysis to know if its been the right investment for your event.

Are you looking for more marketing opportunities for your next event? MCI is here to help you maximise your event! Check out our clients success stories.

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