Evaluating Digital Influencer ROI
While answering questions like, “How much does a fan cost?” and “Are 15,236 impressions good?” is very much a part of what we do, they are somewhat analogous to “how long is a piece of string?” and “how much does a car cost?”.
Subjectivity matters when it comes to defining value of a connection digitally. It’s easy to understand why the old school method of counting impressions existed and even the mostly antiquated Media Relations Rating Points system.
The eyeball landscape was a much simpler concept – impressions used to equate to automatic brand lift. The bigger the billboard, the higher the sales. The idea of engaging or discovering a brand message via content is a fairly recent development so it follows that there isn’t a one-stop boilerplate formula to quantify it all with a simple number. Chances are there never will be. It’s a moving target with too many changing pieces.
All isn’t lost, measuring in the now is still very possible and discovering your own metrics is tantamount to improvement and scaling successes. How we frame the question can help attract the correct answers.
For example with organic traffic, we prefer the direct route asking the tough questions.
“Which piece of content from which source, drives which audiences to which conversion?”
This is a gutsy ask if you’re not measuring everything in well-defined circuits but there is no other way to have a definitive idea on what is truly driving the action.
Content marketing and Social Influencers are vitally important parts of these circuits, but only really given a chance to succeed with a measured approach integrated across all marketing and supported by as many drivers as possible.
Powerful brand-ambassador relationships are contingent on many variables — one of which is knowing where to compete. Sound digital strategy has flexibility and allows the opportunity to own a space with an authentic share of voice instead of trying to dominate the noisy, cluttered and expensive areas.
We discuss this and more tomorrow as Triangles will be moderating the brilliant Social Media Influencer event called Empower thrown by our partners DX3. The focus will be on well-curated themes such as Monetization, Time Management & Expectations, Partnership Programs, Rebranding, Social Media Management and Endorsed Content Disclosure.
Stay tuned next week, when we continue with thoughts on Quality Influencer Content and Social Media.