A Deep Dive into Influencer Marketing Reporting for Seasoned Marketers

Without a doubt, influencer marketing has become one of the most effective marketing strategies nowadays. But how effective is it in your case?

As a seasoned marketer, you want to measure the success of influencer campaigns for the brand you represent to make sure your marketing efforts generated the desired results.

After all, this is an investment, like any other, so you want to make money out of it, not lose it. 

Here’s where influencer marketing reporting enters. 

By collecting and analyzing all the important data about an influencer campaign, you get a clear picture of what works and what doesn’t. 

As a result, you can optimize future campaigns and influencer performance.

However, to get the most out of influencer marketing reporting, you must learn how to do it right. 

So, we’ve created a guide to help you achieve that.

Let’s take a closer look.

Influencer Marketing Metrics to Track for Your Report

To be able to measure influencer marketing success, you should clearly define your goals before launching a campaign. 

For example, you aim to increase brand awareness or boost the sales of an ecommerce shop.

Based on that, you need to determine which influencer marketing metrics you’ll use to measure the extent to which the goals were met. 

The problem is that there are a lot of metrics and KPIs you can use to measure influencer marketing effectiveness, and no general standard. 

So, what do you do? 

Well, you should try to understand them the best you can and choose those that best match your social media marketing strategies. 

Here’s our list of key metrics and KPIs you should track for your report. 

‍

Engagement metrics

On platforms like TikTok and Instagram, engaging your target audience is essential for any successful influencer marketing campaign. 

Why? Because it means that the audience resonates with the influencer-generated content. As a result, they are more likely to become active users or even customers.

But how do you measure the engagement rate of the influencer’s audience? Checks the likes, comments, and shares of your user-generated content.

Usually, most of this information is public. So, you can simply take the number of visible interactions, divide it by the follower count, and then multiply it by 100. The final result is the engagement rate.

However, for a more precise measurement of the influencer’s engagement rate and an in-depth analysis, you’ll need full access to the influencer’s content.

Reach and impressions

When it comes to social media marketing, it’s important to understand the difference between reach and impressions.

More precisely, reach is the number of people who see your content, while impressions are the number of times a piece of content is viewed. 

Just to set the record straight, impressions can include multiple views by the same user, while reach cannot.

So, why are they important? Because they help you understand the exposure of your campaign and the influencer’s audience and calculate influencer marketing return on investment (ROI).

But how do you calculate marketing reach and impressions?

1. Start with impressions. The good news here is that most social channels show you this number automatically. However, you can also calculate it yourself or use tools like Hootsuite Analytics.

Should you choose to do it manually, you have to divide the total cost of your campaign by click per mile (CPM). Then multiply by 1,000.

2. Measure the frequency, a.k.a. how many times a user is exposed to your influencer-generated content. To calculate this you divide the impressions by the number of unique views.

3. Calculate reach by dividing the impressions by the frequency.

Click-through rate (CTR)

The CTR determines how many users click on a sponsored social media post.

This is important as it shows you how catchy and profitable the sponsored post is.

If the numbers are lower than you want them, you can identify and fix the issues to improve your influencer campaign.

Now, how do you know if the CTR is too low? Compare it to the average CTR in your niche.

You can calculate the CTR by dividing the number of clicks by the impressions. Then, multiply by 100.

To collect the necessary data for this formula, you can use tools like Instagram Insights or Bitly.

Conversion metrics

The CTR alone is not enough for measuring the success of an influencer campaign. 

After all, you want to know if, after clicking, the users took further action. 

Did they sign-up to your newsletter? Made a purchase? Or used a promo code?

Surely, this depends on your campaign goals.

‍

Conversions show you the direct impact of your campaign. Thus, they are one of the most important influencer marketing metrics.

But how do you determine if a desired action was generated by a specific influencer’s content?

1. Use trackable links. These links track who clicked them, when, and from where. 

To create trackable links, you can use Google’s Campaign URL Builder or other similar tools.

2. Use affiliate links. Apart from tracking the source of a click, whenever a user makes a purchase using that link, the influencer who posted it gets a commission from that sale.

Brand sentiment and perception

Audience attitudes and perceptions of your brand change over time. No need to panic! This is normal.

However, you should make sure they change for the better, not the worst. But how?

Well, tracking brand sentiment helps you do just that. 

It allows you to identify what moves your audience and how. With this knowledge, you can predict the results of certain changes and make informed decisions for the future of your brand.

Still, measuring sentiment seems almost impossible, right? Don’t you worry, it’s not.

You just need to do a brand sentiment analysis. This means analyzing brand mentions, posts, comments, reviews, or survey responses to understand how people feel and what they think about your brand.

While this might sound a bit complicated, you don’t have to do it all manually, unless you choose to do so. 

Instead, you can use a platform or software like Talkwalker, Brand 24, and Reputation to do it for you.

Still, you should double check the results.

There you have it: our list of key influencer marketing metrics you should track for your report.

However, if this still sounds a bit too complex, let’s see how the right tools can simplify the process.

Tools for Tracking Influencer Marketing Campaign Performance

Using the right tools can simplify every step of your influencer marketing journey, from finding content creators to optimizing your campaign.

For example, influencer marketing tools like Insense allow you to: 

• Identify the right influencers for your target audience;
• Collaborate effectively, in one place, with influencers to create high-quality content;
• Practice influencer relationship management for long-term partnerships;
• Keep track of campaign and influencer collaboration statuses;
• Automate payments and copyright terms;
• Duplicate a successful campaign.

‍

So, as you can see, Insense is perfect for influencer relationship management.

Still,  if you want to do an in-depth analysis of your influencer marketing campaign performance, you’ll need additional tools.

We’ve already mentioned some useful tools, like Google Analytics and Instagram Insights, but there are many more. So, how do you choose?

• Find a tool that tracks the influencer marketing metrics you’ve set for your campaign, specifically. 
• Check the pricing to make sure you can afford it and it’s worth the investment. You should also take advantage of any free trials before deciding. 

Now that you know what metrics to track and that you can use tools to make your life easier, it’s time to talk about the actual influencer marketing report.

So, keep reading!

How to Put Together an Amazing Report

Putting together an amazing influencer marketing campaign report takes more than simply tracking metrics.

Plus, crafting a stellar report helps you and your stakeholders better understand the strengths and weaknesses of a campaign. As a result, you can make data-driven decisions for optimizing future campaigns.

Thus, here is a step-by-step guide to drafting a great report.

Collect data consistently and accurately

Data collection is probably the most important step of influencer marketing reporting. 

After all, without this data, it’s impossible to measure the success of your campaign and reproduce or build a winning influencer marketing strategy in the future.

However, for a thorough report, you must collect data regularly and make sure it’s accurate.

At the same time, to gain a better understanding of the influencer campaign performance, you should look at the bigger picture.

That means you should avoid relying only on self-reported data from influencers. Instead, you should collect data from multiple sources.

Here, you can use social media analytics tools, like Sprout Social, that track your campaign’s performance on social media.

Additionally, to make sure your data is accurate, you should regularly check for fake followers, spam or repetitive content, and outdated data. All these will impact the quality of the data.

Analyze and interpret the data

Once you collect accurate data, it’s time to analyze and interpret it.

This step is extremely important for identifying patterns and trends and gaining insights about your campaign’s performance and results.

So, make sure you  do an in-depth analysis of all the key metrics you’ve been tracking.

Also, by comparing this data with your past campaigns and social media benchmarking, you can determine the effectiveness of your campaign.

If the outcomes are not as good as you’d hoped, then you can take appropriate action and optimize.

Visualize data effectively

To better understand the findings of your data analysis, you should use visualization.

More precisely, data visualization helps you present your findings in a clear and engaging way that is easy to understand by anyone reading your report.

So, how can you visualize data effectively? Let’s take a closer look:

1. Choose the right type of visualization. While there are many formats you can use, you should consider the type and size of the data, the target audience, and the message you want to convey. 

For example, you can use bar charts for rankings and comparisons, pie charts for proportions, and line charts for trends.

2. Use a minimalist design. After all, the idea is to make things simpler, not more complicated. 

To facilitate understanding, you should use colors, titles, and legends. At the same time, you should avoid overstuffing and keep the data tidy.

3. Optimize for different formats and platforms. For example, you can use infographics to inform stakeholders about your strategies and presentations to describe your future campaign goals.

Provide actionable recommendations

Crafting a stellar influencer marketing report entails presenting the actual data, but also providing actionable recommendations.

After all, you’re the specialist and people turn to  you for solutions, not just information.

Here’s what you should do:

• Determine the purpose of your recommendations. Specifically, who will be using them and to what extent. 

• Organize the recommendations in a logical manner. For example, each recommendation should state what must be done, when and how.
• Provide specific recommendations instead of generic ones. So, you should avoid simply recommending improving performance as this is too generic.

Instead, you should provide specific strategies for this, like diversifying influencer partnerships by trying to collaborate with micro-influencers and macro-influencers, not just nano-influencers.

• Back up your recommendations with data. People need to know on what you base your recommendations. So, provide proof the recommendations work and they’ll be likelier to use them.

Craft a compelling narrative

People need a bit of context to better understand technical data. You can think of it like telling a child a story to help them understand complex world problems.

When it comes to influencer marketing reporting, you want to create a logical and engaging story that guides stakeholders through the entire campaign journey.

However, before you can come up with the perfect story, you should understand your audience. As a result, you’ll know what tone and language to use.

Then, using narrative storytelling techniques, you’ll be able to engage the audience and clearly communicate the campaign’s impact.

Note that providing context and relevant insights helps stakeholders better understand your findings and their implications. Conversely, presenting data in isolation will probably confuse them.

But before you start crafting your compelling narrative, let’s look at some additional best practices.

Influencer Marketing Reporting Best Practices

Besides the previous tips for putting together an amazing report, you should also consider the following best practices.

1. Set clear objectives. Just like you set goals for your influencer marketing campaign, you should also set clear objectives for your report.

Be clear about the message you want to convey and what you want the recipients to do after they read it. This will help you stay focused on what matters.

2. Know your audience. Writing a report for your fellow marketers is very different from writing one for stakeholders who know very little about marketing.

Thus, you should adjust the language accordingly so people understand it.

You can also adjust the content to make it relevant for your audience.

3. Keep it short and simple. Even if you’re addressing fellow marketers, you should still keep the report short and simple. After all, nobody will have the time or patience to read a long and boring report.

Plus, the aim is not to overwhelm them with information, but rather to get them to take the desired action.

Besides all that, you should always strive to do better. In other words, learn from your mistakes and receive feedback with open arms.

Through continuous learning, you can perfect your influencer marketing strategies and reports and stay up to date with the latest trends. 

As a result, you’ll be able to stand out from the competition and be successful in this field.

Let’s sum this up.

How to Ensure Accurate Reporting and Performance Monitoring 

There you have it; your complete guide to influencer marketing reporting.

You now know the key metrics to track, analyze, and check to ensure accurate reporting and performance monitoring.

And you’re also equipped with some of the best practices for writing stellar reports.

So, it’s time to roll up your sleeves and get to it!

If you need a helping hand with any part of your influencer marketing campaign, you can simply book a demo with Insense.