Influencer marketing has become a major part of an effective advertising strategy for businesses, especially when it comes to engaging with target audiences. However, creating a successful influencer marketing campaign isn’t as straightforward as it sounds. This process requires both careful planning and definitive goals. 

Let’s take a look at the importance of establishing clear and achievable goals for your next influencer marketing campaign.

Different Types of Goals for Your Influencer Marketing Campaign

Why is setting goals so important in influencer marketing? Well-defined goals provide direction, focus, and a definitive way of measuring your campaign's success. These objectives serve as a road map to guide your efforts, ensuring that your overall strategy aligns with broader business objectives.

Clearly defining the objectives you want to achieve through your influencer marketing campaign can help you track the effectiveness of your efforts. These goals should be specific, measurable, and align with your overall marketing and business aims. 

Consider the follow common objectives, for instance:

Increase Brand Awareness

If you’ve just started your business or plan on launching a new product, your goal may be to boost brand visibility and awareness. These things can be tracked using metrics such as reach, impressions, and social media mentions.

Boost Sales or Conversions

If the main focus of your business is boosting sales or encouraging specific actions (newsletter sign ups, downloads, or purchases), focus on sales conversions. This can be achieved by monitoring metrics such as conversion rate or revenue generated from a specific influencer marketing campaign.

Build Engagement

Engagement metrics such as likes, comments, shares, and clicks can be crucial in creating a strong sense of community and fostering relationships with your audience. When building engagement, it’s important to respond to any customer feedback, comments, questions, and more. 

Encourage User-Generated Content

User-generated content (UGC) can be extremely valuable. Your goal might be to encourage users to create content related to your product or service, so you should track the quantity and quality of UGC produced during the campaign.

The Right Key Performance Indicators (KPIs)

With your objectives in mind, you can use many different key performance indicators (KPIs) to track progress and success. These KPIs serve as quantifiable benchmarks and can include the following:

Follower Growth

Monitor the growth in the number of your social media followers or subscribers before, during, and after your influencer marketing campaign. This metric is particularly useful if increasing your audience is one of your goals.

Engagement Rate

Evaluate your social media accounts’ likes, comments, shares, and more to gauge how well your content resonates with your audience. A higher engagement rate typically indicates a more successful campaign.

Click-Through Rate

If your goal is to drive traffic to your website or landing page, click-through rate is a crucial metric to track. It measures the percentage of people who clicked on your content to get more information. 

Conversion Rate

Measure the percentage of individuals who followed through with a desired action, such as making a purchase or signing up for your newsletter. A high conversion rate is a strong indicator of a successful influencer marketing campaign.

How Do I Get Started Measuring Influencer Campaign Success? 

The path to successfully monitoring your influencer campaign success should proceed according to the following general steps.

1. Set Realistic Goals 

Yes, you want to aim high with your influencer marketing goals, but it's equally important to set attainable targets. Base your goals on historical data, industry benchmarks, and the resources available for your campaign. 

2. Develop a Clear Plan

Now that you’ve defined your goals and KPIs, it's time to create a detailed plan of action for your influencer marketing campaign. Identify the following:

• • Timeline for your campaign
  • Platforms you'll use
  • Influencers you'll collaborate with
  • Content they and you will create

As you determine specific answers for each of these aspects of your campaign, ensure they all align with your established goals.

3. Measure Results

Continuously monitor your KPIs to assess your progress. Making the necessary adjustments to your strategy will help you stay on track. Conduct a comprehensive analysis to evaluate your campaign’s overall success and identify areas for improvement once the campaign is over. 

4. Fail Forward

Continual improvement is key in this process. No campaign is perfect, but you’ll gain useful insights from each one. After a campaign has run its course, take the time to learn from your experience and apply those lessons to future campaigns.

How LTK Can Help with Your Next Influencer Marketing Campaign

Setting clear and achievable goals for your influencer marketing campaign gives your brand direction and focus. You can reap the rewards of an impactful influencer marketing strategy by: 

• Defining your objectives
• Identifying relevant KPIs
• Setting realistic goals
• Executing a well-planned strategy

LTK works with more than 5,000 brands and hundreds of thousands of Creators across more than 100 countries. With more than 30 million monthly shoppers in our app, LTK provides highly trackable sales and influencer marketing programs at scale for businesses of all sizes. Contact us to get started!