influencer marketing effectiveness

How to measure sentiment in Influencer Marketing?

how to measure sentiment with influencer marketing

In the past few posts we have highlighted the power of influencer marketing in this new social media age and how you can measure its effectiveness. When negotiating with agencies specialised in social, you’ll undoubtedly hear terms such as reach, engagement or sentiment analysis – all three holy grails to qualm nerves and measure branding success (if you’re unfamiliar with these, check out our post below!).

The latter, sentiment analysis, is a buzzword that has taken the online marketing scene by storm. Here we break it down for you by explaining what is meant by sentiment analysis, why it’s important, how it can be measured, and how we at Socially Powerful use it to inform our campaigns.

What is sentiment analysis?

Social media platforms have drastically changed the relationship between producer and consumer. The top-down one-way channel of communication common to traditional media has been torn down by UGC, opening up dynamic spaces for consumers to collectively and individually voice their opinions on brands. This, in turn, has made it far easier to understand how your target audience feel about your product and/or your marketing strategy, whether that be through the like/dislike ratio, influencer story polls or (and this is the most fruitful) the comment section. While engagement is a useful metric to gauge a post’s relative popularity or the amount of interest it peaked, sentiment analysis allows you to further refine and optimise your content strategies to effectively maximise ROI.

So why doesn’t everyone carry out sentiment analysis?

They do. Sentiment analysis is featured as a metric on many social media insight tools used by agencies – hence its buzz on the marketing scene. However, often these metrics are used without fully understanding how they work. Some rely on the like/dislike ratio mentioned above. Other more specialised analyses will examine the language used in the comment section, and here is where the problems arise.

Sentiment and opinions are highly subjective and open to interpretation. As such, the grammatical and syntactical conventions used to express positive or negative emotions are hard to generalise with precision.  To circumvent this, some tools such as LIWC use sentiment lexica, i.e. list of words organised by their bipolar semantic orientation (positive/negative). However, this offers only a crude interpretation of language, which ignores the intensity of a certain sentiment or the contextuality in which words are used – a feature particularly crucial as words often have multiple meanings. Even tools that incorporate valence scores for intensity (e.g. VADER) ignore the lexical features native and ubiquitous in UGC like acronyms, emojis and slang.

Other more recent attempts at sentiment analysis (e.g. Naïve Bayers classifier, Support Vector Machines, etc.) have made use of growing expertise in machine learning and natural language processing to learn and identify sentiment-relevant features of text. However, the issue with such tools and UGC is that they require large sets of validated training data which represents as many of the lexical features as possible. Such data sets of UGC are hard to acquire due to the spare and short nature of text on social media.

How then does Socially Powerful analyse sentiment?

Here at Socially Powerful we understand why sentiment analysis is hard and we, therefore, like to do everything in-house to ensure the highest degree of quality and certainty for our clients. We carry out our own comprehensive sentiment analysis, integrating easily identifiable metrics such as like/dislikes and influencer polls, validated sentiment analysis tools and analyses of multiple samples in comment sections, carried out by different expert analysts. This way ensures we cover the drawbacks of each method. It also means we can be more creative and offer a more fine-grained bespoke analysis for each piece of content.

Why is this important?

Thinking back to last year’s Pepsi-Kendall Jenner advert provides a perfect example of the importance of sentiment analysis. Viewing it on the basis of engagement, the advert was a huge success. However, as everyone knows by now, it drew widespread criticism from around the globe for its insensitive and farcical content.

Kendall Jenner Pepsi influencer marketing.jpg

In influencer marketing, for example, an influencer may post to Instagram holding the product in hand so that it gains exposure to their followers. Any of the sentiment analysis tools mentioned above will then analyse the language in the comment section to get a rough picture of how it has been received. However, going the extra step allows us to fully understand whether the positive or negative sentiment recorded is actually directed towards the product or just other features of the post (i.e. outifts, quality of photo, background, etc.) – if the latter is the case then it is classified as neutral. In other words, it allows us to fully understand the context in which views are expressed, because ultimately it is that context that shapes our opinions.

 

 

 

 

 

Measuring the effectiveness of Influencer Marketing - Socially Powerful

How do you measure the ROI and effectiveness of your Influencer Marketing campaign?!

how to measure the roi in influencer marketing.jpg

It’s safe to say that Influencer Marketing has found its place within the marketing mix, it’s not going anywhere soon and has become a powerful tool for brands in today’s age of social media. Many of the most iconic brands in recent times have come to the fore with an all-in approach to Influencer Marketing, e.g. Gymshark, which is now one of the fastest growing businesses globally.

However, with anything new making its way in the world, there are questions and scepticism around it, especially if you’re doing it wrong. So, how do you measure the effectiveness and the ROI of Influencer Marketing, what metrics should you be looking at? Today, we will answer your question and show you all!

Firstly, when any brand is looking to commit to spending even $1 in any form of marketing, we need to look at the goals of the campaign and the potential returns. We always ask our clients three key questions - What are you trying to achieve? Who are you trying to target? And, what are your campaign objectives? We reverse engineer from the agreed outcome to make informed decisions about which influencers and platforms best capture the target audience’s attention to develop long-lasting engagement and business impact.

Now, let’s talk about the goals and how you can measure them.

Brand awareness

Many will see brand awareness as a given with any marketing activity, let alone influencer marketing. However, to be seen and wanted by your target audience is one of the main goals of brands. Even if you’re working with just one micro-influencer with a few thousand followers, you’ll want to know how many eyeballs have seen your brand or been exposed to your brand. The metrics to look at here, cover total reach and impressions. How many times a post has appeared on people’s timelines and how many unique impressions there was.

Engagement

Engagement goes one step further than brand awareness, here we look at the audience that how they have actively engaged (link clicks, left a like, a comment, dislike, shares, followed your brand etc) on the content for the particular campaign. To look at the effectiveness of the engagement, you need to look at the influencers previous engagement rate and how the campaign compares. Higher engagement rate (likes, comments, shares, link clicks etc) indicates the audience enjoyed the content and appreciated the campaign. The next logical step would be to work with the influencer(s) again to continue building your relationship with them and their audience.

Lower engagement rate (low likes, high dislikes, low views etc) will indicate that there was something wrong with the campaign. Perhaps the wrong influencer was selected, the content was poorly put together or there wasn’t a particularly good audience fit.

Sentiment

Whether you’re trying to shift perception, provoke a reaction or test the waters, influencer marketing is a great way to understand audience’s sentiment towards your brand, products or campaign. There are numerous ways to look at the sentiment, either through comments in videos or pictures (what people are saying positive, negative, neutral?), the like to dislike ratio, amount of web traffic or another way is through polls on influencers stories on Instagram for example.

If you’re a watch brand and you have a dilemma about which colour watch to produce, you could simply run a poll on a few influencers stories that hit your target audience demographics, you’ll see results almost instantly. Through analysing the sentiment you’ll be able to see which social platforms react best to certain pieces of content, enabling you as a brand to prioritise your marketing spend towards those platforms.

Sales

Everyone wants to sell more, let’s face it, when you market your brand or service, the hope is that the audience will buy or use it. Influencer Marketing is a great way to increase sales or conversions and there are many ways to track the success. However, before beginning the campaign understand your sales figures for a few months previous and benchmark against these figures. Are you selling more with or without the chosen influencers?

If you’re a beauty brand, partnering with influencers to increase sales of a product, you can track sales through tracking links and discount codes, unique to each influencer you’re working with. By ensuring each link and code is unique, not only can you see day to day analysis and whether certain offers work best on certain days, but you can figure out influencer conversions. Which influencers are performing best and converting more of their audience to sales vs ones that aren’t performing well and have very little actual influence over their audience.

If you’re a mobile gaming company and your goal is to increase downloads using influencers, you can then track this through clicks on trackable links and then downloads of the game. Through this data, you can see the conversion metrics as before and you’ll be able to prioritise your top performing influencers for further marketing.

Influencer marketing is an incredibly powerful marketing tool if you have a concrete strategy in place (please see our previous blog for tips on this) and you know what you’re looking to achieve or measure. The above metrics will allow you to put together an Influencer Marketing campaign with confidence and understand the true power of the campaign performance.