How to Calculate Your Influencer Marketing ROI
It is important to calculate your return on investment (ROI) in any form of marketing for channelizing your marketing and promotion budgets.
The Content Marketing Institute contributor Shane Barker has shared a five-step guide to help marketers calculate their Influencer marketing ROI.
Barker says, “To determine the success of your influencer program, you need to track campaign performance and make sure the return is adequate for the investment. This step-by-step plan enables you to track your influencer campaign ROI. Read on and get ready to launch your next influencer program.
Step 1: Set campaign goals for accurate ROI tracking
The first and most important step in any influencer marketing program is to set clear goals and objectives. Determining your goals lets you determine what kind of influencers to work with, types of content, distribution platforms, etc.
Some common influencer marketing goals for marketers include:
- Increase brand awareness
- Reach new/target audiences
- Improve brand advocacy”.
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