Mentioning influencer marketing or social media campaigns, brands are starting to catch on. It’s no longer a new concept and it has grown exponentially within the last few years. With millions of people having access to the Internet, any social media user with content-creation ability has the potential to become an influencer.
As a matter of fact, according to a report from an influencer marketing platform NoxInfluencer, in 2022, influencer marketing niche will be worth $19 billion. That’s a lot of potential for brands that want to tap into this growing audience. However, the challenge is understanding how to leverage influencer marketing to drive sales while minimizing risks and costs. Social media analytics can help to answer these questions. Here are five ways that social media analytics can support your influencer marketing campaigns.
Know Which Influencers Your Audience Responds To
The first step in a successful influencer marketing campaign is knowing which influencers are the best for your brand. This can be difficult to determine. There are many different factors that go into selecting the perfect influencer, such as their followers, audience engagement rate, and content relevancy. Tools with the feature of social media audience analysis can help you to identify the best influencers for your brand by helping you identify who your audience is connecting with most often. And tools with social media engagement calculator can also do you a favor. The engagement of your audience matters a lot, so one thing to keep an eye on is how often they engage with posts from each influencer.
Measurable ROI for Brands
It’s important that brands track and monitor the success of their influencer marketing campaigns. The good news is that using a social media analytics platform makes it easier to see results. Social media analytics can provide data on how many followers and likes your influencer has, how many times they post, and what kind of reach each post generates. Brands can then take this information and map out goals for their influencer marketing campaign. They can use these goals to measure the ROI of their influencer marketing campaign as opposed to just looking at the number of posts or followers an influencer has.
Influencers Feel Much More Convincing
Social media analytics can give you a better understanding of your audience’s reactions, which can be useful for influencer marketing campaigns. When influencers are introduced to your brand, it is important to understand how they feel about your product or service. If the influencer is interested in your product or service and feels strongly about it, then the information shared by this person will have more sway than if the influencer does not believe in what they are talking about.
In that case, it is essential for brands to keep an eye on how influencers themselves or their viewers react to brands’ products which are used and shown by influencers on their channels.
Analyzing the general sentiment of brand-related content can be realized through social media analytics.
Helps Brands Avoid Waste and Fraud
One of the most important benefits of social media analytics is that it helps brands avoid waste and fraud. We all know that influencers often charge a hefty fee for their services. But, they’re usually worth it.
It is reported that, according to a survey, 80% of brands believe influencer marketing campaigns are more effective than other marketing or advertising formats. However, there are some influencers who are dishonest and take advantage of brands – after all, they’re not just doing this for the good of others! If you’re using an influencer without social media analytics in place, you might end up paying someone without any influence in actuality.
Social media analytics not only helps brands to see what influencers do and how much they do, but also helps brands to tell if influencers have fake influence or fake followers. You can find out if an influencer is posting consistently or if they’re only posting when the payment deadline arrives. Through analyzing the matrix of several social media channels, subscriber growth, views trends, engagement rate. Brands must mind if there are any odd connections among these matrices. Odd connections highly mean fake numbers of social media channels.
Protect Brand Reputation and Image
Social media analytics can help to protect your brand reputation and image. When brands advertise on social media, they are giving up their privacy and inviting the public into their world. It’s important that brands monitor their accounts to ensure that they maintain a positive perception. Social media analytics tools enable influencers to find out who is following them, how many followers they have, what posts are getting the most traffic, and more. Brands are able to assess which posts are getting the most traction and make adjustments accordingly. This is an important tool for monitoring brand reputation as it can help you make changes before things go too far downhill.
Moreover, learning about other brands’ content and sentiment on social media is also an urgent demand of most brands to do competitor analysis. Social media analytic tools like NoxInfluencer are able to do social media competitor analysis.
Social media analytics help influencer marketing campaigns on many levels. From understanding your target audience to seeing which posts are the most successful, social media analytics can provide you with so much valuable data. In addition, it’s also a great resource for figuring out how to best utilize your budget for your campaign. If you’re planning on running an influencer marketing campaign, it’s essential to invest in social media analytics tools.