Product Release: Introducing New Influencer Marketing Analytics

At the center of our next product release of the Influencer Marketing Platform is a new integrated analytics tool. For those unfamiliar with the Influencer Marketing Platform, it is a turnkey solution for brands to Identify, Activate, Distribute, Measure & Manage influencers. This new tool has been developed based on feedback from both our agency and brand clients as well as our account management team. Through the course of launching dozens of influencer programs, our team has amassed expertise and an understanding of the influencer activities that effectively move the needle, and what measurements matter most. This release is packed with features and refinements that we believe will take influencer marketing to new heights. It delivers killer functionality for brands looking to measure the success of their influencer programs across different channels. Brands can:

1)    Track – paid influencer content across blogs and social channels.
2)    Measure – influencers’ reach defined by: readers, likes, followers, impressions (views) and engagement (actions).
3)    Report –  real-time on cumulative data (numbers rollup) and aggregated data (individual pieces of influencer content created as part of the program)across different time resolutions (seven days, 30 days).
4)    Analyze – performance by viewing trends with actual program performance vs. pre-set targets across different key performance indicators (KPIs).

One Dashboard to Rule Them All
The real-time, interactive dashboard oriented around channels makes your influencer data shine. A single, dynamic page aggregates many of the capabilities found in the separate chart boards of earlier product versions.

The result is that brands can easily see what they need, when they need it. We’ve given the dashboard a fresh UI with permanent URLs that are easily shared them with peers and colleagues.

Overview or Detailed View
The horizontal navigation bar lets you choose between an “Overview” , quick and cumulative charts (data roll-up) across different metrics, and “Channel & Posts”, a detailed ed view of the individual influencers in the program. This measures their reach and links to  content created ed as part of the program including blog posts, Facebook shares and tweets. We also added a threaded view of all the comments, shares and tweets left by the influencer’s audience for brands to be able to track content throughout the conversion funnel.

Out of the Box Visualization
Face it. Raw data has no value if you don’t know what to look for. TapInfluence analytics incorporate visualization to point our important trends and metrics. We’ve radically amped up the reporting capabilities with:

  • Rich Reports and Dynamic Dashboards
  • 3D Charts and Visual Grouping
  • Summaries, Calculations and Formats

Reach, Impressions, Engagement
Brand marketers know that  consumers go through stages in their buying process. We now classify measurement metrics down the purchase funnel into three meaningful groups:

 

Business Goals
When establishing a measurement strategy, it’s always important to answer the question “what business problem does that solve”? to ensure that the measurement practices align with overall business objectives. This is also referred to  as Key Performance Indicators or KPIs. TapInfluence analytics lets brands select up to three custom business goals or KPIs, setup the target for each KPI, and measure the actual performance against it.

Paid vs. Earned
The formal definition of paid media is a communication message from a brand to consumers delivered by paying a channel that the brand doesn’t control.

We help brands to measure their paid influencer initiatives by looking at: blog posts, Facebook shares, tweets, pins.

Earned media is any message about a company that is shared between consumers as a result of an experience with the brand. TapInfluence tracks earned media that results from the TapInfluence Marketplace members sharing their content with their  audience (readers, Facebook likes, Twitter followers, Pinterest followers) through blog comments, Facebook stories (likes, shares, comments), re-tweets and re-pins.


For Here or To Go?
One of the challenges with influencer marketing (and with social media in general) is that there’s no standardization of metrics. Influencer marketing can be measured in many different ways, and we often receive requests from brands for custom reports. The new analytics tool now lets brands and agencies download raw influencer program data to a CSV file and analyze in-house dfor further insights.

 

Coming Soon: ROI Calculator
The most sophisticated metrics modes include some level of financial impact, such as ROI. Influencer marketing has a positive financial impact on brands. But, in order to demonstrate this it is necessary to capture the $ value of each engagement as valued by the brand. In the next release brand marketers will be able to assign a $ value to business goals for the system to automatically calculate ROI on their influencer program.

The TapInfluence Marketplace now boasts hundred of thousands of influencers across different product categories. And, new brands are adopting our turnkey influencer solution every month.

Find out how you can take your influencer product to the next level.

Written by

Raviv Turner

In his current role as VP of Product at TapInfluence, Raviv is leading a team of talented engineers, designers, and product people out of Boulder, CO in building the enterprise social content marketing software + marketplace for top brands and agencies. Raviv brings over 13 years of product management and startup experience, building profitable consumer and business software products. Previously he was the Co-Founder & CEO of Guerillapps, a NYC-based, social gaming startup. Raviv graduated from the Interactive Telecommunication Program at New York University.

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