Ever wondered what goals you should set for an influencer marketing campaign? While goals are different for every company, there are a few popular ones. Of course, there are the obvious ones like increasing sales. But here, we've decided to focus on some non-obvious ones that our brands use to determine what success is for their campaigns. So sit back, relax, and see which goals you should be setting for your next campaign!
You probably saw this one coming. But for a good reason! Increasing app downloads is the most popular goal for many of our gaming brands, like DraftKings and Tunity. A lot of brands wonder what an achievable, but still ambitious, goal is when it comes to increasing app downloads. A good rule of thumb is to take a look at historical data first. Have you ever done a marketing campaign before that's comparable? If so, use those increases as benchmarks. If not, you'll have to do a little bit of math... But don't worry, it's easy! Simply take whatever you're spending on the campaign and figure out how many app downloads you'll need to make back your spend. If you spend $500 and each new user is worth $1.00, then you know how many new users you need to have a positive ROI.
A lot of our brands that use testimonials to drive sales to use their sponsorship deals to convert existing traffic. You can do this by adding a page dedicated to the athlete's review, content, and testimonial. Some have also added the athletes' 5-star reviews on their Purchase page to drive sales. If this goal is right for your brand, make sure that you have historical data to compare with. Set up a page dedicated to customers' reviews, and also post these to the Purchase page. Then you'll have that baseline data to compare to your athletes' data.
There's no better way to instantly increase a brand's credibility than to associate it with a well-known athlete. This is one of those "intangible" goals to set - so make sure your boss knows that it'll be hard to track. However, you can certainly look at how long it took your company to fundraise without an athlete versus with an athlete. Though it'll likely be anecdotal evidence, most brands report the higher interest when they have a recognizable athlete on board.
In tandem with helping fundraising efforts, sponsorship deals also help boost brand credibility. Nowadays, people like associations - it makes things easier. When brands partner with athletes, they're linking their brand to the athlete's brand. It's like a shortcut to broadcasting your message to the right audience. Again, this is another intangible goal - it's hard to measure exactly how much your credibility increased. But anecdotally, you can gauge the difference in reactions when you mention your brand versus when you mention your brand + the athlete.
People may not listen to you, an as-yet-unknown brand. But they'll certainly listen to three-time NBA champ Steph Curry. Using sponsorships to educate people about a new product is another popular goal that a lot of our brands set. Not only does the athlete produce the content, but they also lend their own credibility to your brand. It's a win-win! To measure this goal, set specific goals for page views, video views, time on the page, and other educational measures.
How do you get people to attend an in-person event? If you're using OpenSponsorship, the answer is easy. A lot of brands use OpenSponsorship to help drive up numbers for in-person events. It's the perfect way to attract your target audience using the athletes' extended reach. Plus, the content from the events can be reused for months to come. To track the success of this goal, take a look at past events. You'll be able to easily see if your sponsorship deal helped drive more traffic!