One of the top 10 questions we’re asked by new clients is, “what’s the best way to measure our influencer program?” Today, there’s no single “right” answer to that question. The answer varies according to the state and direction of the organization, its business objectives, and the market it’s addressing.
Each organization undertakes an influencer program for its own unique set of reasons. Even head-to-head competitors — targeting similar influencers in the same market — often declare different objectives and apply different measures.
That’s not to say there’s a lack of valid techniques for measuring the impact of influencer programs. Quite the contrary. It’s just that there’s no one-size-fits-all formula.
The Word of Mouth Marketing Association is one of the industry groups recognizing the need for a selection of valid measurement approaches. Their measurement research committee suggests that at least 4 measurement models deserve serious attention:
- Customer Value Matrix
- NetPromoter(TM) Economics
- Social Value of Opinion Leaders
- Conversation Value(TM) Model
Thought leaders like Ogilvy’s John Bell are paying attention, just as we are. These models will evolve rapidly. We can all help shape the thinking. We all have a hand in the rate of adoption.
Meanwhile, don’t hesitate to adopt a measurement model that makes sense for your organization.