Metrics to Measure an Influence Marketing Campaign

Measurement is one of social media’s key advantages over traditional marketing and advertising.

Prior to social media’s rise as an essential business solution, marketing campaigns were primarily through print, media including TV and radio, and direct mail. The use of flyers, posters, billboards and print editorials were the staple method of promotion, often complemented with radio spots or television ads.

The main problem with these methods is that it was difficult to pinpoint which ones were working and driving foot traffic to a brick and mortar store.

• If a business sent 10,000 flyers out, how could they guarantee their intended recipients saw all 10,000?

• Or if a radio spot played during a certain time of day based on that radio station’s demographics, how could the brand be sure a certain percentage of that audience heard and acted on that ad?

The answer to both questions is simple – they couldn’t. If there was increased foot traffic to a location or more calls to a call center for a company’s information pack, more often than not the source of that referral was virtually impossible to identify.

Social media changed that.

The ability to create extremely targeted campaigns, combined with platforms that measure which networks and content create the most return on investment, has made social media a key part of every smart business owner’s toolset.

This ability to measure business results is easily transferrable to measuring influencer results – the difference is in what, and who, you measure.

Measuring the Brand Metric

There are two core metrics that brands need to measure in any influence marketing campaign. The first is the Brand Metric.

Resources

The financial investment of an influencer campaign involves more than pure monetary costs. Resources like manpower (how many employees are needed and how many hours they need to allocate to the campaign) and education (how much time you need to allocate to train each influencer on your product and company culture) also need to be measured and added to the bigger financial investment.

Investment

The investment metric is the pre-campaign cost of researching which influencers are right for you by identifying Micro and Macro Influencers; how much it costs to set the program up; and using that as a barometer against how much return (financial or awareness) you experienced.

Product

To encourage an influencer’s audience to connect with your brand from a lead generation or purchase decision angle, free samples of your product need to be made available to the audience as well as the influencer. Test or demo areas may also need to be set up for more technical-led products or software.

The cost to your company for the amount of products sent out, coupled with the hosting costs of the demo area online, need to be factored into the overall financial investment of the campaign.

Measuring the Influencer Metric

In addition to measuring the Brand Metric, the second key metric to track is the Influencer Metric, which can be broken down into three key areas.

Ratio

The biggest problem many brands have when it comes to results from social scoring platforms is the “influencer” targeted is simply another number in a database with a large following and an amplified voice online. This lack of differentiation is guaranteed to provide poor returns.

Instead, the ratio of community to followers is key – a thriving, interactive community that reacts to an influencer is far more important than higher follower numbers. It’s these qualitative reactions that provide a higher propensity of actions taken by the influencer’s community.

Measure how many reactions an influencer is receiving when sharing your message as a percentage of their overall following to extract a more exact return on that specific influencer.

Sentiment

Every marketing campaign, whether online or offline, succeeds primarily for one main reason – the perception of that campaign and the buy-in of the audience.

Using the same metrics to measure your influencer campaign will allow you to understand the sentiment around the brand message, and how the target audience perceives both your brand and the campaign itself. It also allows you to quickly identify areas that upset a certain demographic and amend the message accordingly, or instigate a crisis communication response if needed.

Additionally, you can see which influencer receives a favorable reaction and adoption, allowing you to increase awareness around him or her and helping improve the perception of a less well-received influencer.

Effect

The most valuable barometer to showing whether an influencer campaign has worked or not is the effect it has on your brand.

From a brand awareness point of view, measurement needs to include:

• traffic generated to a website, microsite or landing page;
• how many times your brand or product is mentioned online and how many people recognize your name when mentioned;
• how many new fans or followers you accrue on the social networks your brand is on;
• how many white papers or fact sheets were downloaded from your website;
• and how many new subscribers you receive to your company blog or newsletter.

From a more dedicated business angle, it’s much more straightforward:

• how many new inquiries did your inbound sales team receive;
• how many referrals did your direct sales team receive;
• and how many sales were directly attributed to your influencer’s work with their community.

Depending on your product or service, the purchase cycle of your customer may be a longer one than the duration of your campaign – include a plan to continue measuring the effect of the initial influence campaign on this purchase path.

Moving Beyond the Metrics

While by no means exhaustive, both the Brand Metric and the Influencer Metric measurement examples are key parts of any kind of influencer campaign your brand partakes in. Each metric is a guideline to the core information that needs to be tracked in each example – your own brand’s definition of additional metrics will be determined by the results you’re looking to achieve.

You may only be interested in awareness, in which case you’d place more emphasis on what platforms will show most return; what new platforms you can take advantage of; where your competitors are interacting online and how you can insert your brand into these conversations via your influencers.

If you’re more geared towards pure sales and lead generation, your outreach and subsequent measurement needs to be focused more on potential ecommerce partnerships with peers and colleagues of your influence; affiliate sales programs for your influencer’s community; strategic partnerships with other businesses in your industry who can benefit from increased exposure through your influencer while introducing you to their audience.

Either way, determining the end goal allows you to chart a path back from there and identify the milestones and metrics that matter for each one. Get this part right, and your influence campaign will move from being a nice to have to becoming an essential part of the puzzle.

Tools – Hard 2 choose

Tools plays a vital role in campaigning ! we have different types of tools in market .

Tools which are effective to touch the clients heart ::—–

 

A Digital Marketing Solution ! Like Having Your Own Award Winning Ad Agency In House- With a Low Price Tag. Create Digital Campaigns with drag & drop, no programming needed Target Contacts through segmentation Multi Channel Distribution , Email, Mobile App, Facebook, Twitter, LinkedIn, QR code, digital Ad´s) Analyze, get all your statistics in one place and track your conversions

Features Checklist

• CRM Integration
• Email Marketing
• Event Triggered Actions
• Lead Management
• Multi Channel Management
• Multi-Campaign
• Sales Analytics
• Web Integration
• Workflow Management
• Contact Database

Integrate is the first advertising technology provider that empowers media buyers to plan, launch, analyze, and optimize marketing campaigns across performance, traditional media and digital media. Integrate’s AdHQ offers sellers & buyers an end-to-end solution that supports the entire lifecycle of paid media campaigns in one intuitive dashboard.

Eloqua gives you the power to create, execute and monitor powerful demand generation campaigns combining email, direct mail, your website, your phones, RSS feeds, online chat and even SMS messaging. Eloqua offers marketers precise mailing list and lead management, including lead scoring and lead nurturing. In addition to excellence in marketing automation, Eloqua offers powerful tools for the sales team–allowing them to track and respond to their prospects’ Digital Body Language.

Features Checklist

• CRM Integration
• Email Marketing
• Event Triggered Actions
• Lead Management
• Multi Channel Management
• Multi-Campaign
• Sales Analytics
• Web Integration

ROI Customer Lifecycle Marketing software transforms the way marketers nurture business relationships – from initial contact to brand advocacy. The ROI “software-as-a-service” (SaaS) solution helps companies win and retain more customers, optimize marketing effectiveness, and maximize the lifetime value of customers. ROI marketing automation solutions include campaign management, email marketing, lead nurturing, customer nurturing, and lead management.

Features Checklist

• Contact Database
• CRM Integration
• Email Marketing
• Event Triggered Actions
• Lead Management
• Multi Channel Management
• Multi-Campaign
• Sales Analytics
• Web Integration
• Workflow Management

Adobe Campaign provides the only enterprise marketing software specifically designed to manage, automate and optimize programs across traditional and emerging channels including direct mail, email and mobile. With Neolane’s cross-channel direct marketing and lead management solutions, marketers can manage campaigns, resources, customer data and analytics from a single platform to dramatically improve effectiveness and ROI.

Silverpop is the only marketing technology provider offering advanced email marketing and marketing automation solutions. Silverpop’s products are designed for marketers that want to increase revenue, improve ROI, and operate more efficiently. Marketers using Silverpop can devote time to strategy as well as execution as a result of the company’s focus on innovative, easy-to-use technology, simple implementation and services and support. Silverpop is trusted by leading brands around the globe.

Features Checklist

• CRM Integration
• Email Marketing
• Event Triggered Actions
• Lead Management
• Multi Channel Management
• Multi-Campaign
• Sales Analytics
• Web Integration

Tools – Hard to choose

I can make just such ones if I had tools, and I could make tools if I had tools to make them with

Types of Campaigning

Campaigning is a strategy used by companies to communicate with the consumer and make him knowledgeable about the various features of their products and services. It is an essential part of attracting the target buyers to a particular product, and companies use various innovative or tried-and-tested techniques to stay ahead of their competitors and make their place in the market.

Here are some of the most popular and effective types of Strategy Campaigning :

Affinity Campaigning –  Also known as Partnership Marketing, this technique links complementary brands, thereby creating strategic partnerships that benefit both companies. While one adds value to existing customers by generating more income, the other builds new customer relationships.

Alliance Marketing – Here two or more entities come together to pool in their resources to promote and sell a product or service, which will not only benefit their stakeholders, but also have a greater impact on the market.

Ambush Marketing – This strategy is used by advertisers to capitalize on and associated themselves with a specific event without the payment of any sponsorship fee, thereby bringing down the value of sponsorship. It has sub-categories like direct or predatory ambushing or indirect ambushing by association, to name a few.

Call to Action (CTA) Marketing – CTA is a part of inbound marketing used on websites in the form of a banner, text or graphic, where it is meant to prompt a person to click it and move into the conversion funnel, that is, from searching to navigating an online store to converting to a sale.

Close Range Marketing (CRM) – Also known as Proximity Marketing, CRM uses bluetooth technology or Wifi to promote their products and services to their customers at close proximity.

Cloud Marketing – This refers to the type of marketing that takes place on the internet, where all the marketing resources and assets are transferred online so that the respective parties can develop, modify, utilise and share them.

Community Marketing – This technique caters to the needs and requirements of the existing customers, as opposed to using resources to gather new consumers. This promotes loyalty and product satisfaction and also gives rise to word of mouth marketing among the community.

Content Marketing – In this case, content is created and published on various platforms to give information about a certain product or service to potential customers and to influence them, without making a direct sales pitch.

Cross-media Marketing – As the name suggests, multiple channels like emails, letters, web pages etc are used to give information about products and services to customers in the form of cross promotion.

Database Marketing – This utilizes and information from database of customers or potential consumers to create customised communication strategies through any media in order to promote products and services.

Digital Marketing – This strategy uses various digital devices like smartphones, computers, tablets or digital billboards to inform customers and business partners about its products. Internet Marketing is a key element in Digital Marketing.

Direct Marketing – This is a wide term which refers to the technique where organizations communicate directly with the consumer through mail, email, texts, fliers and various promotional materials.

Diversity Marketing – The aim of this strategy is to take into account the different diversities in a culture in terms of beliefs, expectations, tastes and needs and then create a customized marketing plan to target those consumers effectively.

Evangelism Marketing – It is similar to word-of-mouth marketing, where a company develops customers who become voluntary advocates of a product and who promote its features and benefits on behalf of the company.

Freebie Marketing – Here a particular item is sold at low rates, or is given away free, to boost the sales of another complimentary item or service.

Free Sample Marketing – Unlike Freebie Marketing, this is not dependent on complimentary marketing, but rather consists of giving away a free sample of the product to influence the consumer to make the purchase.

Guerrilla Marketing – Unconventional and inexpensive techniques with imagination, big crowds and a surprise element are used for marketing something, a popular example being flash mobs.

By keeping in mind the distinctive features of the product, the demographics of the target consumer and their spending power, and the current strategies of existing companies, an effective marketing strategy may be successfully created.

The types of marketing keep evolving with new developments in technology and changes in the socio-economic structure of a market. I try to keep up, and update the list as things develop. Please let me know if I’ve forgotten anything from the list by leaving a comment. !!!!!!!!!!!

Email Campaigning !!!!!

Segmentation in Email Campaigning is a means of dividing the email list based on interest categories, purchasing behavior, demographics and more for the purpose of targeting specific email campaigns to the audience most likely to respond to your messaging or offer. This list segmentation and targeting efforts pay off in higher open and click-through rates. Segmentation  in direct marketing has become more efficient in recent years because of the development of database marketing techniques.

These data-mining approaches provide direct marketers with better ways to segment their current customers and develop marketing strategies tailored to particular segments and/or individuals. Over the recent years, database-marketing techniques have evolved from simple RFM models (models involving recency of customer purchases, frequency of their purchases, and the amount of money they have spent with the firm) to statistical techniques such as chi- square automatic interaction detection (CHAID) and logistic regression. More recently, neural network models are employed in the database marketing arena .

A study suggests that various data mining techniques can be useful for efficient customer segmentation and targeted marketing. Variants of RFM-based predictive models are constructed and compared to classical data mining techniques of logistic regression, decision trees, and neural networks. RFM is found to be a better statistical practice and Logistic regression can include many variables (Olson et al., 2012). In spite of recent statistical advances in data mining, marketers continue to employ RFM models.and moreover RFM is the second most common method used by direct marketers, after cross tabulations, in spite of the availability of more statistically !!!!

Step BY Step

Basics :—

Some key KPIs to get you started are the total number of visitors on your website, the average amount of time visitors spent on your website, and the bounce rate of those visitors. This shows you how many visitors arrived at your site, how long they stayed, and how many immediately left.

Return On Investment :—–

One of the most important KPIs for your company to monitor is return on investment. This shows you which campaigns are successfully contributing to the bottom line.

Incremental Sales :—–

This metric shows how many of your marketing efforts actually lead to sales, demonstrating the effectiveness of each campaign. In order to access and monitor this KPI, first build a sales baseline and then monitor which sales channels vary based on your marketing changes. To calculate this, use the revenue from your marketing minus your baseline sales.

Conversions by Campaign :—-

Conversions by campaign shows which campaigns have captured the highest number of leads and / or sales.

Cost per Lead :—

Cost per lead measures how many leads are generated per dollar spent. This will allow you to justify how much money is spent on every campaign.

Visitor to Buyer Ratio :—

A visitor to buyer ratio measures how many visitors that come to your site actually buy something.

Sales by Lead Source :——

While knowing how many visitors are converting is great, sales by lead source shows which leads are generating the most sales. Some examples may include search engine traffic, pay per click traffic, social media, referrals, and more. Knowing your most profitable sources of leads can reduce costs in future ad spending.

Social Media :——-

Is the time you spend on social media really paying off? By monitoring your social media interactions, you can get a good idea as to how effective your social media marketing efforts are to improving audience engagement. You can monitor things like the number of Facebook likes, Google +1s, retweets, and more. This metric shows you the number of valuable social media interactions over a period of time.

Tracking Keywords :——-

You probably spend a lot of time and money trying to improve your search engine rankings every month. First page results in search engines for the right keywords can be very profitable. Tracking your site’s rankings for individual keywords can show you which search engine optimization campaigns are paying off.

Feeding your Sales Funnel :——

For many marketers, the number of leads being added to your sales funnel each month can be a very valuable metric. By visualizing your sales funnel with some BI tools you can get a good view of how your visitors move through the sales process from an initial lead to a sale. This can help you forecast sales for the future as well as potential revenue.

Finding Your True Customer :—-

Your true customers make the difference. Using the proper KPIs can show you which customers are buying versus leaving without spending a cent. Do you know your true customers? Where are they coming from? Are they coming back for upsells in the future?
By knowing which sources of traffic are the most profitable over time, you can reduce your spending on less profitable campaigns. With this information, you can improve your metrics over time and grow your business !!!!!!!!!!

 

Name(required)

Email(required)

Website

Comment(required)

Submit

Δ

Like many things in life, the information you retrieve from your campaigns is only as good as the data going in. Online marketers have certain indicators they should be monitoring on a continual basis.