5 Steps to Calculate Your Social Media Influencer Marketing ROI

Social Media Influencer Marketing is an ever-growing trend. More than 70% of brands spend some of their marketing budgets on influencer marketing. By the end of 2020, an estimated $7 billion will be spent on Instagram alone for influential marketing. However, to understand and calculate the campaign ROI you would need to measure the success of your influencer marketing campaign.

Social Media’s advent has brought about a change in people’s lifestyles and choices. These choices get reflected in their daily consumables to trends and fashion. People with a high number of followers and an engaged audience earned by posting creative content are labelled as social media Influencers. These influencers can post about their experiences with the products they have used and got benefits.

These recommended products or services are bought and used by their followers and this increases the brand’s revenue and customer engagement. So, what is ROI? It’s an abbreviation for Return on Investment. And that means a calculated and clear depiction of what the returns were from your campaign. So, the question still remains, how to calculate that? Well, to answer that here are five steps to calculate your Influencer marketing ROI.

  • Setting up goals 

The first and the most important step is to set up goals and targets that you wish to achieve through your campaign. Get a clear and informative representation of your brand’s current data on all the parameters you wish to target. This creates the route for the rest of the campaign.

What is the target area in terms of the consumer base? On what platform do you want to run the campaign? What type of content is to be produced? What influencer do you wish to collaborate with? Are some of the questions to which you will start receiving answers after setting up the targets.

Some commonly targeted areas as per set goals are,

  1. Brand awareness increase.
  2. Expand customer base.
  3. Increase sales.
  4. Manage brand values and reputation.

The above are just examples of goals at an organizational level. The setup of goals needs to be more detailed and granular for more effective results.

  • Definition of metrics

Once the campaign goals are set, identification and definition of metrics for accurate measurement comes next. Metrics should be specific, timeline-based, and achievable. So, what are the metrics actually?

  1. Views on the post: The number of views/clicks garnered by the post from the influencer. The number of views will give you an idea as to how many people were reached through that post.
  2. Engagement rate: Engagement rate is the amount of engagement generated from that post.  This is not a calculation of views but more of the engagement rate where comments, shares, reactions, and likes are taken into consideration.
  3. Redirector URL tracking: Redirects or URL tracking is a process where the link you clicked on takes you to the intended page but through a gateway that captures the viewer’s behaviour. Another is URL tracking where the URL is amended to capture the intended data.
  4. Promo codes: Promo codes are discount or offer codes unique to influencers to attain a calculation on the number of orders placed using that promo code. This lets you directly understand how many users were converted to customers.
  5. Follower numbers growth: Generally for goals like brand awareness or value the followers gained can be accounted for with the gap between the number of followers at the start of the campaign and the end of the campaign for the brand.

The setup of goals and targets can be done for each influencer in your campaign or the influencer you are collaborating with, whichever be the case as per your campaign strategy.

  • Analyze Cost of campaign

There are many ways to analyze the cost of the campaign. Though these majorly vary as per the campaign most of the costs fall under the below sections,

  1. Time: Time is money. Time is precious. Time is always ticking. The amount of time spent on the campaign directly translates into the cost. The lesser time spent on the campaign costs a lesser amount of money.
  2. Free Products/Giveaways: Giveaways are free for the receivers but costs money to the business. The more free gifts and giveaways mean more costs involved.
  3. Influencer’s fees: The influencers might not invest their time or creativity for no monetary returns. There will be a cost involved for that, most times. An exception might be where the influencer is a fan of the brand or the product, but it will be an exception.
  • Calculate the returns 

Most of the campaigners end up measuring the overall performance of the venture, but it is not usually the best way. Measurement of individual influencer’s success over a period of time and comparing it to the peer group of influencers in the campaign is better. This gives an overview of the campaign’s success.

A custom URL will track the visitors redirected from the influencer’s post. Unique URLs can also be created using redirects or appending the URL with the sought-after information that needs to be tracked. Promo codes will give you a count of how many used the promo code for that influencer to avail of the discount.

  • Assess and Optimize

As explained above, you will need to analyze the data for each of the influencers’ performance using filters of your choice. The representation of the information will let you decide on whether the expected outcomes have been reached for each unique influence.

The results will guide you on your way forward. Now you need to decide again after tallying the results with the assessment matrix. If the expected results were attained or not and whether the campaign’s success rates met the targets needs to be inferred.

This will allow the optimization of the campaign. If the influencer’s contribution towards your campaign does not meet the goals then the campaign with that influencer can be done using another method or stopped as per the decision taken.

A successful social media influencer marketing campaign requires effective planning, strategizing, and execution. Also required is a detailed measurement metric and financial planning on the investments. Finally, you will also need to measure the success of the campaign and then optimize it as per the displayed results. These will let you calculate your ROI and understand the success rate of your social media influencer marketing campaign.

Social Media Impressions Getting Down? 4 Surefire Ways

Social media is integral to every business these days. You cannot run a successful business without using social media to interact with your audience or build a loyal customer base. Just being on social media is not going to help your business in any way. A brand needs to ensure that the social media engagement on your posts is high. If it decreases, you will have no lead conversion, and your sales will die down.

Engagement is the interaction your target audience has with the content you have on your page. So, if the content is intriguing and appealing, the engagement will be high, and your leads will improve. Unfortunately, you cannot have always had a high engagement rate. It can decrease or dip every day, and the reason for the same can be numerous.

Social Media
Social Media

If you too are experiencing a decrease in your social media engagement, here are few surefire ways that will help you improve them. Let’s check them out.

Engagement is crucial for the success of your brand as it leads to conversion and deeper connections. Therefore, you need to try these tips now to get higher engagement.

If your social media engagement rate is going down, the first thing that you need to do is audit the content. Check every media and all posts to find out which is working for you and which isn’t? For instance, every brand which has a business profile on Instagram has access to Instagram Insight. It enables them to check the engagement of every post, they can see how many people reacted to it, and not.

This information is valuable, and it lets you decide whether a certain post or type of content is working for your business or not.

Tip 1: Use quality visuals

Visual Content
Visual Content

Every social media platform, whether it is Instagram or Facebook or Pinterest or even, LinkedIn requires some form of visuals. You cannot expect to get high engagement only with the help of text content. Using images or short videos or GIFs can increase the intrigue people have and appeal to them more.

Therefore, never underestimate the importance of visuals. Another thing to keep in mind when using images for your social media platform is that use only quality images. You cannot use an image which is not edited or is uneven or doesn’t focus on the main subject. Make sure to correct any flaw that the image has using an online editing tool like Canva.

Tip 2: Optimize your bio

The about section is also known as the bio is probably the first thing that all customers will see at first. It is one thing that can help them decide whether they want to follow your account or not. It is because it tells them everything they need to know about your business and how relevant it is to them.

Thus, make sure you optimize it so that it attracts people and inform them at the same time. Keep it short, make it snappy or fun, and do not forget to use keywords in it so that people can find your account with ease.

Tip 3: Use video content to your advantage

Video Content
Video Content

Video content is more appealing than images currently. If a person comes across a video, they will pause and look at it to check what the video is all about. It provides you with higher engagement and better interaction levels. Seeing the popularity of video, every social media has options for the same. On Instagram, you can share live videos in your story or post a short one on your post, make reels or more. Even on Facebook, you can share videos, or you can create an account on a video streaming platform like Tik-Tok to garner high engagement.

When it comes to videos, try making them short, entertaining, and do add subtitles to it. When people can read and see both, they give more attention to your content, which ultimately is the aim.

Tip 4: Include CTAs in your captions

Captioning your visuals on social media is extremely important. It tells the audience more about the image, and it lets you add CTAs to it as well. CTAs or call-to-actions is a tool that encourages people to do what you expect the image to do.

For instance, ask people about their favorite musician while sharing a picture of your favourite brand. It helps in engaging consumers as well.

13 Best Social Media Marketing Tips!

Social media has become a vital part of our lives personally and professionally. It came slowly and then suddenly became an important part. It has paved the way businesses invest in marketing today. As now it requires a well-thought Social media strategy, an eye-catching campaign, selling content to grow a large audience for your brand. Some of the best Social Media Optimization Tips are:

1# Create a killer social media strategy to engage the audience

If you aren’t aware of what you want, how will you achieve it?
Not to mention, if you don’t have strong goals, you can’t measure or develop strategies over time.

Always write down what you want to achieve and your desired goals.

2#   Do good research and learn about your Audience

Research Social Media
Research Social Media

If you want to make money, connecting and interacting with your audience is essential for marketing today. You have to know your audience from inside out in order to play your game wisely.

For a successful social media strategy, you should focus on their needs and desires. Interaction on a their personal level and relatable content can make them feel attached to your brand.

3# Curate eye-catching social media content

Everything you do on social media should be overlooked. If you only publish something regardless of the quality of content, you are wrong. Based on the social networks you post, you need to understand the various uses of each network.

  • LinkedIn– A professional network building website very useful for your business.
  • Facebook- Everybody has a Facebook account, particularly useful for news/entertainment-related content. Facebook Group is a very good option to connect with your audience.
  • Instagram– Static postsand short videos are great to engage people, but they can’t drive traffic back to your blog. If your content has a high visual effect, it is perfect.
  • Pinterest – In comparison to Instagram, Pinterest is very visual. The only issue is that it is only limited to static images, but it drives traffic back to your blog.

You just need to figure out the right words to craft quirky copies for your social media and you are out there!

4# Make video content very frequently

Social-Media-Video-Content
Social-Media-Video-Content

Unless you live under a rock, you must be aware of the power of video content, especially in social media marketing. Therefore, if you have not done this, it’s high time to join this trend!

Real-time video (such as Facebook real-time video) now seems to be all the rage.

Facebook live video helps you connect with your audience, which other content formats might not. People participate by asking questions. So you can interact with them during and after the live video, showing them that you are more than just a brand.

5# Create aesthetics for your social media feeds

Creating amazing pictures for your social media should be on utmost priority.

 You can easily use tools like Canva to create eye-catching images to attract viewers. People always remember what they see so try to engage them with pretty visuals.

Create beautiful and eye-catching pictures and make the cohesive with your brand!

6#  Run social media contests to maintain your brand image

Creating a selling social media contest is one of the smartest strategies you can use. It will increase your online visibility, followers, and engagement. You can use many social contest tools to create great giveaways or sweepstakes.

The major key to a successful social media strategy is to provide great value. Something that the audience cannot resist.

7#  Always measure your results of the success of a particular strategy

Social-Media-Strategy
Social-Media-Strategy

End the loop by keeping the results reaching the goals you set and seeing the comparison between them. Otherwise, you will not know which strategy has worked and which has failed. Always check your followers, likes, comments, shares, clicks, downloads, etc.

It all boils down to leads. Ultimately, successful social media marketing will increase the number of qualified potential customers for the company. This is the indicator that tells you the best effort. Be patient. Even if the content is good and consistent, it takes time to develop strangers into potential customers. However, if done right, they will eventually trickle in.

8#  Make use of Twitter to test your content ideas

Most marketers use Twitter heavily as a promotional tool for their content marketing plans, but few people will use the power of Twitter to take advantage of potential hot topics before sitting down to produce content.

Twitter can be used as a powerful “content lab” where you can test how popular a piece of content might be, or measure interest in subject areas that differ greatly from your usual editorial focus.

9#  Make a Facebook group grow your brand image

Facebook Groups
Facebook Groups

Benefits of making a Facebook group:

  • Increases website traffic
  • Interact with the audience in a real way
  • Create your email list
  • Grow your business and make more money
  • Establishing a Facebook group is a top-notch strategy to level up all social media marketing programs.

10# Promoting is the most important factor for your business

You can create breath-taking high-quality content on the web but if no one is following it, you won’t see the results. That is where promotion is beneficial.

Automation tools are essential that you use for the social media platforms. This will increase the number of people who have access to your content and also help to increase your website traffic. Creating diverse content for social media is important obviously, but don’t neglect the fact that the promotion process is necessary too.

11# Always keep up with the latest trends and strategies and use them to create engaging content

Engaging Content
Engaging Content

In social media marketing, maintaining a leading position is essential.

It changes quite often, and the algorithm also changes in the middle. Be aware of what’s going on around you and what are the new social media changes. This includes reading current statistics about the social platforms you use as well as general social media statistics.

12# Stay focused on the marketing tips you follow and the results will show

Indicators will show where you have been, and also where you need to go. Companies need to take collected metrics and use them to convey their information.

  • Will one content bring more participation?
  • Is there some form of a post that attracts more attention on certain days or at certain times of the day?
  • Is content better on one platform than another?

Use this data to edit and adjust the strategy. You will see greater results from your Social media marketing efforts.

13#  Remarket in your paid social media campaigns

Remarketing is one of the most effective techniques you can use on Facebook, it becomes even more effective. By remarketing to your customers on social networks, you definitely increase the chances of customers. Even if they don’t, increasing brand awareness is still worth the investment, so you must remarket on Facebook.

Ten Tips to Leverage Social Media

1. Determine which network(s) are right for your business.

Pinterest   – Just Because Everyone Else Is Doing It Doesn’t Mean You Should Too.
Twitter      – Is that enough characters for you to really say anything?
Facebook  – Does your Mom really care about your weekly special?
LinkedIn   – Is anyone using this?
Google Plus – Do you need another social network?

PRO TIP: If you have a physical product that is very visual in nature or that has attractive packaging Pinterest may be right for you.

If your specials come and go very quickly and you have a fast and active customer base then Twitter away.

Google Plus and LinkedIn are great for B2B types. And G+ has some killer features that the others lack.

And Facebook is good for … um … some businesses I guess? Just kidding. The single most active demographic on Facebook is stay at home Moms. If that’s your target, go for it. Otherwise, people mostly use FB to stay connected with friends and family – more so than the other social networks. With that in mind, would you really be trying to sell stuff at a family reunion? If your business actually would benefit from that, then go for it. But for most, FB isn’t really the way to go.

Once you have found a medium that works well with your business, then push it! Post often. But don’t post garbage. Your customers don’t care if you have a hankerin’ for ice cream (one of the most popular “tweets”).

Offer them real tips they can use, deals they can benefit from, and above all else, post things that people will want to share with everyone they know. What could that possibly be? Look at the next tip…

2. Post killer content.

No duh, right? Wrong! you’re not doing it or you wouldn’t be reading this guide! (Apologies to any actual successful established viral publishing web professionals who happened to be reading this)

Killer, viral, shareable content is something that takes a dose of inspiration, a touch of creative ability, and a knack for knowing your audience.

Example: SEOmoz has a fantastic beginners guide to SEO. Their audience is people aspiring to be SEO professionals. You can download it at their site in PDF format, or browse through it online. It is presented with beautiful graphics (no doubt professionally created), a bit of humour, and easy to understand terms. Perfection!

Let’s say you have a dog grooming business. You drive a van to peoples homes and shave their poodles and such. Is viral internet marketing something that would work for you?

Absolutely.

You could create a simple infographic type download that offers 3 tips to keep dogs safe in flea and tick season… or something like that. Something that your target customer (people who care about their dogs) could benefit from, use again and again, and would want to share with others.

Push this out to your social followers, they download it, they share it with people who aren’t your customers yet, and all of
a sudden you are an expert in pet care. People call you you every hour for the rest of your life and shower you with riches.

Well, hopefully.

Of course you have to make sure it’s beautifully presented (why not run a contest to put a picture of someone’s pet on it?),
make sure it is of REAL VALUE, and for the love of all that matters – BRAND IT! Put your name, number, website, social site, anything you can that will help people connect with you somewhere in this resource. Otherwise, it won’t matter!

I hope you see the point here. There is a nearly infinite amount of junk floating around out there. Give your people something that is not junk, and they will thank you for it.

3. Tell them what to do.

Most people don’t like be told what to do … unless they are lost and looking for help. You know all those studies about how you only have a few seconds to capture attention on the web? Well that’s true, unless with those few seconds you have told your visitors that they are in the right place and you have what they need and show them how to get it – then they will stick around to read what you have to say.

If you add a link to something you share, make sure the page they land on tells them exactly what to do, where to go,and that they are in exactly the right place. This will keep them from just bouncing away.

4. Provide immediate value.

When you share, post, like, plus, tweet, or whatever … make sure it is something they can benefit from NOW. The whole internet culture is largely based on instant gratification.

I know I could drive to Best Buy and purchase a CD by my favorite band, but why would I? I can just pull up iTunes and get it NOW.

Make sure they can get some sort of benefit from what you share ASAP.

5. Don’t talk, listen.

Did you know you can search through Tweets? Sure you did, and twitter isn’t the only one. Use those search functions to find out what people are saying about you. No one is perfect, so if you mess up, OWN IT. Turn a bad customer experience into an AMAZING experience. Turn a mad customer into a customer for life.

There are plenty of articles on this so I won’t go into it here, but that is one of the most amazing aspects of social media. People will talk ten times more about a bad experience than they will about a good or normal one. Use that public forum to make it right and show you care. That is impressive and will directly affect your bottom line.

6. Be a back scratcher.

Don’t be afraid to “like” and share other peoples content. This will get you more fans and followers and can connect you to other peoples tribes.

If you have ten friends, and another guy has ten friends, if you share something the other guy did and make a nice comment about it, his followers see it and suddenly your audience grew from ten to twenty. If they don’t become real fans or followers, at least they were exposed to your brand for that day. Do it 3 times and they are exponentially more likely to purchase from you in the future.

7. Solve a problem.

To be really engaged in the social realm, you have to set aside time for it. Part of this time is posting, and part is listening as mentioned above. But don’t just listen and wait for your name to come up, you should be doing that anyway. Also listen for things that you are an expert in and can lend a helping hand with.

Back to the mobile dog washing example, you could regularly search for things in your home area related to pets or dogs and every so often something will come up that you can offer genuine help with.

Boom! Again you get brand exposure, you are established as an expert, and more than that you are lending a helping hand. Who doesn’t like that?

8. Be funny.

Everyone likes a little wit, but who really likes a clown? Be clever but not irritating. It’s a fine line to walk, but you can do it.

This applies to pictures, article content, and especially headlines.

9. Be interesting.

This applies to all the networks, but the shiny new toy is of course Pinterest.

We’ve all seen a picture of a poodle. We might not have all seen a picture of a poodle with a pink mohawk. Wow, now I really want to see one.

So what does this mean for you? Still assuming you have a dog grooming service of course, you could do this:

Take an amusing picture (pink mohawk poodle)
Add your Web site url to the bottom of the picture in MSpaint, GIMP, Photoshop, or any other photo program
Then post in on Pinterest!

If it’s interesting enough, people will share it with their friends, family, and followers. Every last one of them will see your website address and whether they go to it or not, they will have at least been made aware of your brand.

You want to make it even more effective? Use a SPECIFIC URL targeted for visitors from that image. Like “http://somesite . com/pink-poodle” Then when they visit that specific page, they will be greeted with the same picture and other pictures from your little photo shoot. Then it’s up to you to turn them into CASH.

Why not offer a downloadable coupon with the poodle on it for 10% off their next service? Or what about a big button that says “Your pet could be the next contest winner …” ? Anything to keep your visitor engaged with you, and that provides them with value. it’s your business, you know what your people like.

“Be interesting” is a very, very broad statement. Of course you will have to figure it out for your industry but here are some pointers:

Why am I in this industry?
What do others find interesting about this industry?
What might others like to learn about what I do?

If you can answer those questions, you are well on your way.

10: Create curiosity

With Twitter, would you rather click this link:

“This is neat: http://somesite . com/link”

Or this one:

“I cannot believe she did this, and in that outfit!! http://somesite . com/amazing-thing”

I think you know. And it goes beyond the headline. If they click the link and it has nothing to do with your flavorful description, they will bounce back out quicker than a mouse that ran into a room full of cats.

Conclusion:

Don’t let your customers down. Be outstanding. Be relevant. Be incredible. It’s easier said than done, but with just a little planning you can set yourself apart from your competition with the amazing power of social media. And do it on the network that’s right for you.

You can solve problems (yours and your customers). You can offer real value to people and at the same time establish yourself as the go-to guy or girl in your industry.

And you can have fun doing it! Just don’t spend too much time in the social networks. They are designed like an ancient Greek labyrinth, to keep you twisting ever inward and make it tough to get out. So set yourself time limits and have real goals in mind before you start, then you will truly be able to leverage social media as a business tool.

Remember, Rome wasn’t built in a day. You probably wont catapult into internet stardom with your first attempt. Don’t be afraid to try and fail a few times. Stick with it, learn from it, ask for advice, and it will pay off. People succeed everyday, and you can too!