It’s hard to gauge success if you don't pay attention to the numbers.
No matter what kind of campaign I'm running, I always track the metrics to make sure that my campaign is running successfully.
While this may seem obvious, A LOT of marketers out there DO NOT track their metrics either because they're scared of the idea of data or they just don't know what metrics they should be tracking.
Because of this, they end up missing out on a lot of opportunities and spending a lot of money on campaigns that go nowhere.
It's time to get over your dataphobia.
Below are the most important metrics for influencers to track. Make sure you're tracking all of these to ensure the success of your ad campaigns!
If you aren’t making sales, what’s the point of any sort of marketing campaign?
Sure, most advertisers aren’t going to get a bunch of sales right off the bat, but it’s still important to check in frequently to see how the sales for any particular campaign are doing.
Here are some things to consider when it comes to sales…
Are Your Sales Increasing?
The point of marketing is to increase the amount of sales the company is making. Make sure that the marketing campaign is actually increasing sales instead of maintaining the same amount or—even worse—decreasing!
Are Your Sales Where They Need to Be?
There are certain sales numbers that a company needs to hit to not just stay afloat, but to turn a profit. Pay attention to where your sales are and where they need to be.
Are Your Sales Reaching Your Projections?
At the beginning of an ad campaign, a marketer should make some projections about how much the campaign will boost sales. From there, the marketer can evaluate the success of the campaign by comparing it to the projections.
Sure, you may not hit your projections every time, but it still important to create a good benchmark.
2. Website Traffic
A company’s website is an extremely important hub for the business, and a marketer will want to make sure the website is being visited frequently.
On top of that, a marketer will want to make sure that the website is drawing customers in and keeping them there.
Here are some things to consider when it comes to website traffic metrics…
How Many People Are Visiting?
Ultimately, a business needs a good amount of people to visit their website to make more sales! That’s why it’s important to consider how many people are visiting your website and whether that number is consistent with projections.
How Long Are Customers Staying?
Different customers can pop by your website all day, but that means nothing if they aren’t sticking around. Pay attention to how long customers are staying—and if that’s long enough for them to be making purchases.
If customers aren’t sticking around long enough, there’s a problem!
How Many Page Views?
Besides the website overall, it’s important to keep up with how many people are visiting each page. This will help to evaluate the success of each page and what changes need to be made to make those pages more attractive.
How Many New Visitors?
While return traffic is great, it’s also important to have a consistent stream of new visitors. This will increase overall sales.
3. Social Media Engagement
When it comes to being an influencer, one of the most important metrics is social media engagement. This is where influencers are actually influencing people.
But what should an influencer look for when it comes to social media engagement? Here are a few considerations…
Pages/Profile Likes and Follows
One of the quickest and simplest metrics for the success of an influencer is their page/page profile likes and follows. After all—there won’t be a lot of people to influence if no one is following the “influencer!”
With that being said, it’s important to consistently check the quality of the followers. There may be spam bots and other followers that are not contributing—or are actively detracting.
It’s also a BIG no-no to purchase followers. These followers come from click-farms, and they are NOT organic.
One of the quickest ways for an influencer to actually use their influence to spread information is through shares.
The more people that share the post of an influencer, the more likely people outside of the influencer’s network will be exposed to the influencer. They can then share the post, comment, like the post and even follow the influencer.
Engagement is important for an influencer’s growth. They need to make sure that they are engaging with their audience and that their audience is engaging with each other.
Comments show social proof and allow for a community to form around an influencer.
While brand mentions can be more difficult to track as a metric, it’s still good to pay attention to when your brand gets mentioned. The more it is mentioned, the more people you are likely reaching.
If an influencer’s audience isn’t growing, there’s a problem.
Being an influencer means reaching as many (real) people as possible! That’s why an influencer needs to pay attention to audience growth and—just as importantly—any decreases in audience size.
4. Conversion Rates
Driving a bunch of traffic essentially means NOTHING if no one is actually purchasing.
To understand if an audience is actually purchasing, an influencer needs to take a look at their conversion rates. From there, return on investment (ROI) can be calculated.
If an influencer is spending more money on advertising and outreach than they are making, they will end up going out of business.
Make sure to take a look at how much you are spending and how much you are earning. Also consider how many people that are visiting your website and checking out your products are actually buying.
If you're selling products for other people, help them keep track of their ROI and how your influence has helped contribute to their sales.
Knowing your target audience and reaching them is fundamental to your success as an influencer. This means keeping an eye on your demographics.
Here are some things that you should be considering…
Who Is Visiting?
While a marketer may be targeting a specific group, they may find that group to be unresponsive. They also may find that another group is visiting more than expected.
Pay attention to who is actually visiting to get a better idea of who you are reaching.
Who is PURCHASING?
A marketer can have visitors to their site all day, but if no one is buying, it means nothing…
Pay attention to the demographics of the customers that are actually purchasing to see how you can better target these people, and get the people that are visiting and not purchasing to make a purchase.
How Can You Improve Your Targeting?
Always be working to perfect your targeting.
As an influencer, cultivating the right audience is EVERYTHING. Make sure you are reaching your target audience, and hone in on who exactly that target audience is.
Going Past The Surface Of Influencer Metrics
By paying attention to these metrics, you’ll reach the RIGHT people, build your influence, increase your reach and make more money!
But these metrics are just scratching the surface of what you can uncover by doing in-depth data analysis.
Start here, and branch out into your data more as you get increasingly comfortable with what the data looks like and how to use the different analytics program.
With the amount of data available (and how easy it is to access) today, there's no excuse for you to remain a dataphobe.
With a little bit of reading, learning, and practicing, ANYONE can use metrics like these to uncover important business insights.