How To Measure Influencer Marketing’s Impact

It's no surprise that influencer marketing has become the popular kid in the “social promotion” block. Nowadays, influencers shape almost everything we view and purchase, from tech to fashion to everyday choices.  

Even recent case studies prove the quantifiable impact of influencer marketing campaigns in terms of metrics like cost savings, revenue, return on investments, societal change, etc. 

Look at Microsoft's "Make What's Next" campaign, for instance. The tech giant collaborated with National Geographic as an influencer partner to elevate girls' interest and involvement in STEM programs, garnering 150 million impressions and 4 million social engagements.     

Likewise, H&M collaborated with celebrity influencers like Peyton List and Hannah Simone, who posted teaser videos and sponsored clips of clothing lineups on X, Facebook and Instagram. H&M received 12 million video views and a 10% engagement rate for this social media content through its influencer marketing campaign. 

If those astonishing numbers aren’t enough, the chart below depicts how influencer marketing grew from a $1.7 billion market in 2016 to a massive $21.1 billion space in 2023! 

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Now that you've seen the numbers. It's clear that influencer marketing works. It delivers results you can track, making it a worthwhile investment. 

But before taking the plunge, you probably have questions: How do I ensure my investment isn't squandered? How do I know it's really working?  

Don't worry, we're here to help. Keep reading to figure out how to get and make sense of all those numbers and explore the best ways to measure influencer marketing's impact. 

What is influencer marketing?  

Influencer marketing involves a brand partnering with social media superstars (aka influencers) to boost your brand awareness. These influencers have large, dedicated fan followings who trust their recommendations. Because of this, when they endorse your brand on their channels, it's a major win for getting noticed.  

Just think — if popular figures like Leo Messi, Zendaya or Dua Lipa started raving about your product, their dedicated followers would definitely take notice.  

In fact, the numbers back this up. According to a Matternow survey, 81% of people consider a purchase based on recommendations from influencers, friends or family. Also, influencer campaigns can be surprisingly budget-friendly, sometimes up to 30% cheaper than other marketing approaches. 

What’s more, this approach to marketing can trigger viral growth by utilizing social proof. By showcasing the experiences and decisions of others, it brings valuable, relatable insights, enabling people to make well-informed choices. 

8 ways to measure influencer marketing's impact on your campaign 

Analyzing results is a critical step in any influencer marketing campaign. Insights from the analysis help you choose the right influencers, set budgets and optimize future campaigns.  

To evaluate the effectiveness of your influencer marketing campaign and optimize its impact, utilize these eight methods: 

1. Analyze the “reach” of your target audience 

So, you teamed up with an influencer to get the word out — but did your message actually land? That's where reach and impressions come in:  

Reach: Think of reach as the number of unique people who see your content. It's the size of your potential audience. 

Impressions: Impressions are like how many times your message pops up. Maybe someone sees it once, scrolls past it and then sees it again later. Those are all counted as impressions. It pertains to the frequency with which your content is displayed, regardless of whether someone clicks on it or not. 

Find out which other social media metrics can be tracked in 2024 by checking out this guide. 

To better understand this, let's take an example. Let's say you have 5 million followers on Instagram. If your post reaches 250,000 users, it demonstrates that 5% of unique and separate followers have seen your content. But if the post gets 1 million impressions? That means your content is not just simply reaching people; it's getting seen again and again, maybe even by the same people in their social media feeds. 

Thankfully, tracking your Instagram reach and impressions data is easy. Just head over to your Instagram profile, click on the professional dashboard, and voila — there it is!

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Read More: Social media reach vs. Impressions: What's the difference?

2. Track engagement and sentiment 

Reach and impressions are a good start, but to truly measure the impact of influencer marketing, you need to look at engagement and sentiment. 

• Engagement: Did people go beyond just seeing your content? Did they like, comment, share or click the influencer's posts? The more the interaction, the better! It shows they're genuinely interested in your brand. 
• Sentiment: What was the vibe? Did comments express excitement and positivity or were they negative? Positive sentiment is a huge win, showing that your campaign is making a good impression. To learn more, check out our dedicated guide on social media sentiment analysis. 

For example, imagine your influencer's post gets tons of comments, with people asking questions about your product. That showcases remarkable engagement. Or, maybe, you see comments like "Love this!" or "Definitely need to try this." Such favorable sentiments indicate that your campaign strikes a chord with the audience. 

But how do you keep track of all this valuable information? Trying to do it on your own would be a huge undertaking. That's where powerful tools like Sprinklr Social can change the game. Sprinklr's platform brings all your social analytics together, from over 30 channels, so you can focus on what truly matters for growth. 

With it, you can: 

• Track brand mentions, keywords and hashtags with precision 
• Analyze the sentiment behind every conversation, understand where your brand excels and identify areas for potential improvement 
• Benchmark your performance against competitors to identify opportunities to outshine them 

Read More: Influencer marketing strategies to improve engagement 

3. Measure influencer-driven conversions 

Your influencer campaign had people buzzing, but did it lead to actual sales or actions? That's where conversion and attribution come in: 

• Conversion: This is the payoff. Did someone take the desired action, like signing up for your newsletter, downloading your app or making a purchase? 
• Attribution: Think of this as figuring out who gets the credit for conversions. Attribution helps you track the influencer (or any other marketing effort) who led to that excellent conversion. 

To understand it better, let's say your goal was to drive sales. You can figure out how well your influencer did with this simple formula: 

• Conversions: How many people actually bought your product? 
• Total audience: How many people saw your influencer's post? 
• Do the math: Divide the number of conversions by the total audience, then multiply by 100 — that's your conversion rate.

 Learn More: Social media conversion: A guide for beginners to experts 

4. Monitor traffic 

To see if your influencer campaign drove traffic, follow these simple steps: 

• Before the buzz: Get a snapshot of your usual website and app traffic. This is your starting point. Google Analytics 4 (GA4) helps you get this data, but when it’s integrated with a platform like Sprinklr, you can even add custom campaign parameters to improve your marketing performance and track these baseline metrics with greater ease. 
• During the campaign time: Keep an eye on your numbers as your influencer posts go live. Are you seeing more website visits? Are your social media comments gaining significant traction? 
• After the hype: Once things settle down, compare your current numbers with the ones you recorded at the beginning. Did you see a jump in traffic or follower count? 

Now, compare these results against the goals you set for your campaign. Did things go as planned? You may not have fully achieved your targets, but the insights you gained from your influencer marketing campaign are invaluable.

5. Choose the right influencer marketing KPIs to track success 

When it comes to measuring influencer marketing success, key performance indicators (KPIs) are like the scorecard for your campaign. They help you understand if things are going according to the plan or if you need to adjust your approach. 

But how do you choose the right social media KPIs? That depends on your campaign goals: 

• Want to spread the word? Focus on reach (how many unique people saw it) and impressions (how many times it was seen). 
• Hoping to spark a conversation? Look at engagement, such as likes, comments, shares, etc.  
• Ready for results? Track website traffic, new followers and, most importantly, sales. 

Choose KPIs that match your specific goals to see if your influencer campaign is hitting the mark. This lets you make adjustments as needed and get the most out of your efforts.

6. Track brand awareness

Ever wondered why a specific brand immediately comes to mind when someone mentions shoes, workout gear or tissues? That's brand awareness in action. That instantaneous recognition of "I know them!" drives purchases or prompts recommendations to friends. 

You may wonder if being a familiar name results in sales. Well, it does! People can't choose your brand if they've never heard of it. When it comes to making purchases, 25% of customers are likely to spend more on brands they recognize and trust. 

To know if your influencer marketing campaigns are elevating brand recall, track these key metrics: 

• Impressions 
• Reach 
• Website traffic 
• Branded search volume 
• Social media mentions 

7. Evaluate influencer impact on customer loyalty  

There are companies we keep returning to, even if other options are available. This sense of trust and contentment represents customer loyalty, signifying the brand has forged genuine connections with its customers. Loyal customers likely spend more, try the new things you offer and become your biggest brand advocates. 

To measure if your campaign is building customer loyalty, track the changes in the number of repeat customers over time. Did your influencer campaign lead to more people returning for a second (or third) purchase?  

Are you seeing an uptick in positive reviews and recommendations? Those are signs that your campaign is fostering loyalty. 

Also Read: Who are brand advocates and how to build a winning brand advocacy program 

8. Get the data with the right tools 

To determine the success of your influencer campaign, you need to access relevant data. Various tools can help you measure influencer marketing results, depending on what you need and your budget. Here are a few worth checking out: 

Google Analytics: This classic is a powerhouse tool for measuring user behaviors, website/app traffic, engagement and sales. 

Social media analytics: Each platform (for example, Instagram, TikTok and Facebook) has built-in analytics. These are ideal for seeing how your influencer's posts did in terms of reach, engagement and follower growth. But for a deeper look, consider tools like Sprinklr. These give you the whole story, encompassing trends, cross-platform performance and the impact on your brand on a single dashboard. 

Influencer marketing platforms: For bigger campaigns, influencer marketing platforms are the best. They help you find the perfect influencers, manage the partnership and get those in-depth performance reports. 

How popular brands have seen success with influencer marketing 

Influencer marketing was once considered a business gamble. Well, those days are gone. Executed nicely, it can drive serious results for brands of all sizes. 

Here's the proof: 

1. Dunkin' 

Dunkin' is a master of innovative influencer marketing. Here's a snapshot of one brilliantly successful campaign: 

The goal: Dunkin' wanted to expand its reach and connect with younger audiences. 

Their strategy: The company partnered with Ben Affleck and rapper Ice Spice for the "America Runs on Munchkins" campaign. They cleverly linked their iconic slogan and the rapper's viral hit "Munch." This innovative partnership wasn't just about promotion. It also inspired a unique new creation: the Ice Spice MUNCHKINS Drink. This special beverage, featuring a blend of Dunkin's signature Frozen Coffee with Pumpkin MUNCHKINS Donut Hole treats, was a first for the brand. Dunkin' ensured everyone saw it by launching the campaign at the 2023 MTV VMAs.

See for yourself: 

The results: The campaign garnered attention on social media, increased brand awareness and elevated potential for engagement with a new demographic. 

2. Gymshark 

Gymshark's #Gymshark66 challenge gained immense popularity on TikTok and Instagram. 

The idea:  More than just a trend, this campaign was about motivating people to build healthy habits over 66 days. The reward? A year's supply of Gymshark gear. 

The strategy: The company partnered with popular fitness influencers (like Twin Melody) who leveraged TikTok and Instagram to spread the word. 

The results: The #Gymshark66 hashtag got 252.6 million views on TikTok and over 800,000 Instagram mentions. It helped the company connect with its audience meaningfully. 

3. Nike Air VaporMax 

Nike, a giant in the sportswear world, consistently finds innovative ways to reach its audience. Here's a look at one of their unique campaigns to promote their Air VaporMax sneakers: 

The partner: "What's Inside?" — a YouTube channel that has millions of subscribers and is known for its fun videos where they cut open everyday objects. 

Watch it here:  

The strategy: Nike got creative with its product placement. The YouTubers made a series of videos where they even cut open a VaporMax shoe and made family-friendly vlogs that subtly featured the sneakers. 

The results:  The "cutting open the shoe" video got over 7.3 million views. The campaign generated significant social media buzz and helped Nike reach a broad audience. 

4. McDonald's and Travis Scott 

McDonald's teamed up with rapper Travis Scott for a unique campaign. Think burgers, merchandise and tons of social media hype. 

The deal: For a limited time, you could order Scott's favorite McDonald's meal, complete with a Quarter Pounder, fries and BBQ sauce. 

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The merchandise: Scott designed a whole line of limited-edition McDonald’s-themed merchandise, including T-shirts, hoodies and even a nugget body pillow. 

The results: The collaboration generated over 15 million impressions in the US and sales of the National Quarter Pounder doubled during the first week. 

5. Dunkin' and Charli 

Dunkin' Donuts collaborated with a TikTok star, resulting in a highly successful partnership. Let's break it down: 

The star: The campaign was led by Charli D'Amelio. The dancer has built a huge TikTok following with her dance videos. 

The collaboration: Charli's signature drink, "The Charli," became a Dunkin' menu staple. She regularly posted fun videos featuring Dunkin' goodies. 

The results: The partnership was highly successful. Dunkin's app downloads skyrocketed by 57%, and the company sold tons of "The Charli" drink. 

Final thoughts 

Influencer campaigns aren't just about flashy ideas — they must deliver results. Here's a quick recap of how you can make that happen: 

• Know your goals: What exactly do you want this campaign to achieve? More website traffic? Increased sales? Get clear on this before you get started. 
• Find the right fit: The best influencers aren't just popular; they connect with your target audience and reflect your brand's personality. 
• Track those numbers: Keep a close eye on engagement and reach and how those translate into your goals with the right tools. 

Need help managing all this? Here’s how Sprinklr's influencer marketing platform can help: 

• Find the perfect partners: Sprinklr's AI makes it a breeze to identify influencers who share your interests, understand your industry and have a strong connection with your target audience. 
• Track your progress: Get comprehensive reports detailing the performance of your content, audience engagement levels and whether you're achieving your campaign objectives. 
• Plan content that clicks: Combine Sprinklr Insights' trend analysis with influencer insights to create content that truly connects with your audiences. 

Plus, Sprinklr Insights gives you the power to analyze: 

• Real-time customer conversations 
• Market trends 
• Competitor action 

It does all this with an incredible 90% AI accuracy. You can use these insights to supercharge your influencer selection, create content strategies that get results and measure influencer marketing campaigns’ impact from end to end. 

Keen to see how it works?