So, you’ve decided you want to hire influencers for an Instagram campaign. Before you scout for talent or sign any contracts, it’s important to ask yourself a few key questions. What do you want your Instagram campaign to achieve? Is it awareness? Is it sales? How will you measure your campaign’s success? Which influencer marketing metrics will you be looking at to see if your campaign was effective?
To help you find the answers, we’ve listed and defined the most common metrics on Instagram to track in order to measure the ROI of your campaign.
What are KPIs and why are they important?
Key performance indicators, or KPIs, are metrics used to measure an influencer campaign’s performance and overall effectiveness. KPIs are important because they can help you assess whether or not your campaign is meeting any of its predetermined goals and objectives and to what degree.
So, what are the most common KPIs for Instagram campaigns that you should be tracking?
Engagement rate is the percentage of people who interacted with a post or Story relative to how many followers the account that posted it has. A low engagement rate indicates that a campaign did not bode well with the influencer’s audience, and therefore, did not reach very many people. A high engagement rate, on the other hand, is a signal that your brand or product was very compelling and appealing. Read the exact comments on the influencer’s post to further confirm a positive or negative sentiment.
Often confused with impressions, reach is the total number of unique accounts that saw the post or Story slide in question. The key word here is unique. Impressions are often higher than reach because the same account can be served the same piece of content more than once.
Impressions refers to the total number of times a piece of content was displayed on screen. Just like reach, a high number of impressions can indicate how well a campaign resonated with the target audience and how widely it was distributed.
View count for Stories
The number of people who viewed a Story slide will give you further insight into your campaign’s overall reach as well as whether or not the campaign was captivating to an influencer’s audience. To calculate the engagement and retention rates on a sponsored Story, make sure that the influencers produce more than one Story slide for your campaign. That way, you’ll be able to examine how many people viewed their first Story slide versus how many people viewed the last slide to get a better sense of how many were interested in learning more about your brand and/or purchasing your product.
Link clicks on Stories
Influencers with 10,000 followers or more can use the swipe-up link feature in their Instagram Stories. If one of your key objectives is to drive traffic to a certain page of your website, you should be looking at the amount of views that came directly from an influencer’s Story slide. Add custom UTM parameters to each influencer’s link or use links from Bit.ly to keep track of how much traffic came from which sources.
If your Instagram campaign’s main goal is to increase sales, be sure to keep tabs on your sales before, during, and after the influencer posts go live. This metric is much easier to track if you provide the influencer with a unique swipe-up link or discount code to promote to their followers.
Watch your account’s follower growth during and shortly after the campaign and compare it to your prior growth rate and follower count. If you see a noticeable spike in followers that lines up with the timing of your influencer campaign, it’s likely that you’ll be able to attribute that to the influencer(s).
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