How to Determine the ROI of Your Social Media and Influencer Marketing
Are you a content creator, social media guru, or boss blogger? Do you want to know ways to increase the value of your content and long-term collaborations for brands?
Perhaps you are brand and you’ve run a social media or influencer marketing campaign or two. Yet you still find yourself at a loss over how to determine the return on investment (or ROI) on your social media and influencer marketing.
Your finance department (and your boss) want to know exactly what the return on investment is from your campaigns. No one ever taught you, or them, how to calculate the ROI.
Figuring out how to master media, metrics and return on investment of your social media and influencer is no easy mountain to move.
My Experiences With Media and Metrics
My experience with media and metrics is similar to yours. I started at ground zero. Like you, I have many experiences I could draw on and the ability to learn. If I did it, so can you.
I’ve served in more than seven industries in strategy, consulting, and metrics. In every endeavor, there are always metrics to manage. I started to remind myself of numerous times as a certified public accountant that I was charged with measuring the value increase on the top line, as well as findings on the bottom line, like fraud, waste, and abuse. I correlated measuring metrics in marketing with experiences in data analytics in various roles and projects.
Since starting seriously with social media and influencer marketing in 2016, step by step, I identified a strategy and structure to continuously improve. This includes ways to evaluate both qualitative and quantitative metrics at every level. This has led to creating awareness, community, and results.
In social media and influencer marketing, results have included aligned content creation, a community of more than 25,000 in years, and over 2,500% ROI in earned media alone in 2018.
The more action we take, the more aligned action is revealed. In 2019, we’ve grown to greater than 300 million in reach and community on our own influencer marketing platform and over five platforms.
What we are most excited about is creating a community centered around creators creating a life and business they love and giving back. I believe the more aligned you are with your vision, mission, and purpose, the more your return will be inevitable. That’s why it’s essential to take a long-term approach to social media and influencer marketing. Otherwise, your influencer bubble might burst.
Determining ROI for Social Media and Influencer Marketing
Figuring out your return on investment for social media and influencer marketing doesn’t have to be complicated. To keep it simple, view media like word of mouth. As an influencer, it’s about value, positioning, and ways you may serve exponentially to the brand. In comparison, as a brand, it’s about awareness, engagement, and results.
It’s more important than ever to stand out among over a billion users on Instagram alone and an ever-changing algorithm — not to mention Pinterest, LinkedIn, and Facebook, among other platforms.
Until several years ago, I myself didn’t see the importance of social media and influencer marketing. When I personally experienced 25X results on Facebook alone with my before and after, I woke up, to say the least. My brain blew up over the infinite possibilities.
Let’s talk about how to tackle this as an influencer and as a brand, simply and easily.
Standing Out in the Crowd Among Millions of Influencers
Have you started reaching out to brands as a blogger, entrepreneur, or influencer? Are you getting the results you want yet? Do brands reach out to you yet? Listen up for tips that will help you stand out from the crowd until brands will be knocking on your door.
It’s important to set yourself apart. How do you stand out from influencers and entrepreneurs? Do you offer photography, blogging, and an email list? Are you sharing wellness, lifestyle, and travel content?
Are you strategically reaching out to brands that you love? Do you connect with them upfront so they know you have actually engaged with them and care about what they care about?
For example, I love alignment with wellness, travel, media, and lifestyle. A recent successful press trip and travel that we successfully got a “yes” to was an engagement with a villa in Turkey via Workaway!
Do you offer a clear outline of both what you offer and ways to continue to work with you? Finally, are you sharing examples of your previous work, collaborations, and/or media kit?
This might look something like this:
List their name
Connect on brand and story
How you may serve
Short bio and media
Examples of your work
Susie Q: Thank you so so much for sharing/posting/creating xyz content piece/product/etc. I really resonated with this because of abc.
Share your personal related short story, e.g.:
I also traveled to x countries / tried x products / had x results.
Include ways you would love to serve — short and sweet. This could include a blog, podcast, or x number of posts.
I have various ways I may serve you depending on what is mutually beneficial. I offer multi-month, year, and group arrangements as well depending on your potential interest! I track metrics like engagement and conversions as well, to demonstrate ROI via campaign tracking tools like PeopleMap to help you and your team, too!
Share a short biography leading to your bio/media link.
Insights: I am a lifestyle entrepreneur & creator and CEO of FIT Life Creation. I also create extensive press with blogs, podcasts, videos, influencers, and more. I have traveled to more than 25 countries and host retreats as well. I’ve worked with extensive influencer marketing experience in lifestyle and travel. I also have experience in over seven industries, and hold an MBA, CPA, NASM Fitness and Sports Nutrition. See more via bio [include link]+ media kit
Include examples of content, such as pieces from publications.
Let me know any questions you have upfront. I am happy to jump on a call to discuss ways we may mutually create storytelling and valuable content for both of our communities.
Tip: If you don’t have a media kit or rate sheet with starting rates and bundles yet — start with these Canva Templates. Feel free to take a peek at mine at the link above as well! We cover this in our blog, freebies, and experiences too!
Dollar Gill via Unsplash
Impressing Your Boss With Your Media Marketing Campaigns
Have you started reaching out to influencers? Are you getting the results you and your boss want with your social media and influencer marketing campaigns? Do influencers and entrepreneurs consistently produce the return on investment you want (or that gets everyone excited)? Are influencers consistently reaching out to you yet?
Let’s talk about the ways your brand can rock results in influencer marketing space.
It’s important to identify your mission and vision before you start to reach out to or accept influencers. Perhaps it’s time to take a step back to get clear if you aren’t already. What type of influencers do you want, exactly?
How could you feature them to help them build their brand and give back to their community, too? Are you incentivizing them to create with you long-term, to create authenticity, value, and results yet?
Do you offer start-up collabs to test drive influencers that are no-cost or low-cost? Are you regularly sharing influencers’ content with gratitude? Do you repurpose their content? Have you started featuring them on multiple social media channels yet?
For example, we love to feature influencers and brands on our blog, podcast, and surveys in different ways. This helps foster a creator’s community. We offer ways to connect and create freely via online and live experiences leading to brand campaigns and placements. There are multiple elements of community, rewards, and retention at each and every level.
Do you communicate clearly multiple benefits that show why an influencer should work with you? Are you tracking metrics at each and every level, including reach, engagement, and results? Is your team open to engaging with influencers and entrepreneurs as a community with features and for the long term? More than ever, relationships are important in a world that can’t stop talking online and offline.
This might look something like this:
Clarity on mission and vision
Identification of the ideal influencer
Short- to long-term collabs
Relationships and rewards
Strategy and systems
Online and live options
Metrics you Want to Track
Awareness (reach & views)
Engagement (comments, clicks, etc.)
Results (freebies, time to sale, sales)
Five ways to grow your reach to millions
Quick guide to paid social
ROI on Your Social Media and Influencer Marketing
Whether you are an entrepreneur or a brand, it’s essential to manage and measure your metrics. What gets measured gets managed. If you don’t, how else will you know if you’re achieving the return on investment you want with the social media and influencer marketing results you want?
Identify what you (or your brand) are great at. Immerse yourself in resources and communities to learn and grow in new areas. The essence of life and business is growing.
This is what will help you win with your content, campaigns, and community. It is what will keep you going in the hardest of times. After all, if you don’t have a destination, how do you know if you are on the best route?
Choose to keep creating, no matter what comes your way.
If you love this post, you will love influencer marketing like a boss.
Thank you to Better Marketing for originally publishing many pieces of this post.
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