The rise of influencer marketing in India has been quite incredible over the past few years. India has seen an increase in the number of social media users, with platforms like Instagram and YouTube becoming extremely popular. From fashion and beauty to technology and gaming, there is an influencer for almost every interest group. This makes it easy for marketers to target specific market segments more effectively.
The increased spending on influencer marketing in India and globally brings with it the pressure to show measurable results and impact. The presence of fake followers and artificial engagement can skew campaign metrics. Some influencers inflate their follower counts or engagement rates through dubious means, making it difficult to assess the true impact of a campaign.
However challenging it might seem, some logical marketers continue to partner with top influencer marketing platforms which provide exceptional means and approaches to track and measure results. These platforms plan methodologies that help marketers overcome the measurement challenges associated with influencer marketing.
With that said, there are still common pitfalls that occur, both knowingly and unknowingly, when measuring the results of influencer marketing campaigns. Let’s walk through what those mistakes are and how we can avoid them.
No Clear Objectives and KPIs
There are a few marketers who have no goals or objectives in their plan sheet before kicking off any campaign. If you have no planned objectives in mind, there’s no point in measuring the campaign, because that way your results would be unreliable.
In the absence of objectives, resources may be wasted on activities that do not contribute to any meaningful outcome. This inefficiency can lead to higher costs and lower returns, diminishing the overall value of the campaign.
For instance, some brands invite influencers to events to build hype and online visibility. To be clear, there’s no wrong in inviting influencers to the events, but if you are not able to answer these questions, you might be on the wrong path.
Are you selecting influencers based on their follower counts without considering their audience insights or engagement levels?
Are you sharing minimal content guidelines and simply asking influencers to post about the events or new products?
How does the influencer selection and content theme align with your overall business objective?
What KPIs have you decided to measure and how will you do that?
Influencer Marketing Mistake 2
You are overemphasizing on metrics
Marketers should refrain themselves from measuring a lot of KPIs. Influencer marketing often builds brand equity over time. Neglecting long-term metrics such as brand awareness, customer loyalty, and lifetime value can result in an incomplete assessment of the campaign’s success.
Focusing solely on short-term results such as immediate sales spikes or quick engagement boosts won’t position your brand in the leading marketing industry. Although it’s advantageous to measure your profits or earned media value, it should never be made a strict measurement in each campaign. Making sales and earning profits are the last part, not something that needs attention from the start.
Inconsistent measurement standards
When you measure some campaigns by engagement rates (likes, comments, shares) and others by sales conversions or website traffic, it’s hard to compare their effectiveness directly. This inconsistency makes it challenging to determine which strategies or influencers are truly the most effective.
Different measurement criteria can even lead to mixed and confusing results. For example, one campaign might seem successful because it has high engagement, while another might show success in increased sales. Without a consistent standard, it’s easy to misinterpret these results and make misguided decisions.
Imitating Competitors
We have all heard once in our lives that we shouldn’t copy our competitors. Copy and you will die. Simply copying what competitors are doing can make your brand appear unoriginal and inauthentic. Influencer marketing thrives on genuine and unique content that resonates with audiences. When a brand mimics another, it loses the personal touch that makes its content stand out. Competitors may have different target audiences, brand values, and product offerings. Blindly copying their strategies can lead to a misalignment with your brand’s identity, confusing your audience and diluting your message.
Not Tracking the Customer Journey while Measuring Campaigns
Without tracking the customer journey, it’s difficult to understand how influencer marketing influences each stage of the buying process. This can lead to incomplete insights into campaign performance and effectiveness. Tracking the customer journey helps identify pain points and opportunities for enhancing the customer experience.
Without a clear understanding of how influencer campaigns affect different stages of the customer journey, it’s challenging to allocate resources effectively. This can result in overinvesting in stages that don’t need it and underinvesting in those that do.
The Bottom Line
Influencer marketing can be a powerful tool for brands, but accurately measuring its impact requires careful consideration and strategic planning. Collaborating with the right platform like Marqeting will result in more informed decision-making, better resource allocation, and ultimately, more successful influencer marketing campaigns.
