The customer’s pathway to purchase can be a long and winding road. Marketing teams put in a lot of time and effort to discover those turning points for people to evolve from curious customer to devoted advocate. Through this post, we will take a look at the connection between marketing attribution and influencers and share some tangible tips for your business to keep track of these marketing efforts.
What is Marketing Attribution?
Reviewing the customer’s pathway to purchase is a main component of marketing attribution. Evaluating your marketing campaigns with customer touchpoints can help companies determine which routes of your plan had the greatest impact on customer conversion.
Marketing attribution models usually include single-touch and multi-touch attribution to review statistics and other data points. Single-touch models are not as commonly used as multi-touch, but this model attributes customer conversion to a single touchpoint or moment in the customer journey. While single-touch gives a really narrowed down view of customers, it has the possibility to neglect the wider view and multiple points a customer interacts with a brand before buying.
Multi-touch takes a look at all of the touchpoints a customer engaged with before buying. Marketing teams use this model because of its accuracy. Teams may assign different values to certain touchpoints while others view each touchpoint with the same value and weight.
Companies use the information provided in their marketing attribution to develop new and updated plans of action for the next campaign, product launch, etc.
Why Does Attribution Matter with Influencer Marketing?
Attribution matters with influencer marketing because teams often need to determine the weight and ROI on this type of marketing investment. If teams determine a high value and return on this route in their marketing plan, the more likely they will continue with implementing this strategy.
However, most companies and brands are not using marketing attribution like they should or investing in the right social measurement tools for proper review.
What Metrics to Track in Influencer Marketing Attribution
To properly review and track during your influencer marketing attribution, there are multiple metrics to consider and elevate.
One of the first metrics to consider is the influencer’s network. Many influencers have access to thousands and up to millions of followers that can be converted to customers (depending on their size). By partnering with multiple influencers, brands can extend their reach with a variety of audiences.
It’s critical to determine your company’s definition of a successful partnership before a campaign is launched or posted, and then use these metrics to analyze your campaign. This can really serve as a clear guide for your business during the review and evaluation of a brand partnership.
Another metric can be included through tracking technology such as a specific URL or code to review numbers of clicks, orders, and sales generated from an individual influencer.
Similar to the specific tracking links for your influencers, you could provide your influencers with time-sensitive or exclusive discount material that can be reviewed and analyzed. These links could also provide an incentive to the influencer’s audience to “act now” so they don’t miss out on the special offer being shared. You want to provide your influencers with something special to promote and utilize.
Using these tracking codes and links as an attribution metric can also help you determine the activeness of the influencer’s followers and they speed of opting into their posts.
Using Sideqik’s all-in-one influencer marketing tool, you can determine which metrics are crucial to your influencer marketing attribution and track them all in one place. Learn more in the next section:
How to Keep Track of Your Influencer Marketing All in One Place
This is a lot of data to track and you don’t want anything to slip through the cracks during the review process. That is why having the right platform for your business is crucial.
Sideqik is here with everything you need and more to properly evaluate your influencer marketing partnerships. Influencers can be a huge lead for your customer journey and tapping into this part of that path can be the difference between surpassing sales goals or struggling to keep up with the market.
Sideqik has multiple engagement review data points to help you leverage your network of influencers to share your promotion and attribute activity to each influencer during you next campaign. Discover more about how to use this platform to review your attribution data points for your next campaign recap!