Brand Ambassador Marketing Measurement
Brand ambassador marketing measurement is crucial for any entrepreneur or brand manager who must monitor ROI and report to senior management or investors. Roster is the leading word-of-mouth marketing platform for companies to recruit, engage, reward and measure brand ambassador marketing.
Measuring Brand Ambassador Marketing
Brand awareness campaigns are crucial, and many successful companies spend a healthy amount of their marketing budget on running long-term campaigns to increase their brand and product awareness. An effective brand ambassador measurement method helps any digital marketer know how much the brand ambassador program translates to revenue.
Indeed, you can overcome several possible downfalls by engaging brand ambassadors to promote your business.
This is where the Roster brand ambassador app shines, as it helps you quickly and effectively track and assess brand ambassadors’ activities across the web. It gives your brand manager immediate insights into what campaigns and user-generated content translate into profit for your company. When it comes to building ambassador networks, creating effective ambassador campaigns, and measuring successful campaign outcomes, Roster has developed the best software to measure the impact of ambassador marketing.
Brand Ambassador Marketing Measurement: Where to Start?
Though brand ambassadors may be highly dedicated and committed to mobilizing the brand awareness expedition, their contribution must be under constant scrutiny. Are they able to increase web traffic that boosts the ecommerce website or increases SERP rankings?
Using Roster, brand marketers can leverage supportive systems to track steady growth and increase brand awareness.
Are you wondering, “Why is it so hard to measure brand ambassador success?“
Beyond the budget invested and return on investment, several things affect this response. Brand ambassadors are responsible for increasing brand awareness, sales and, ultimately, marketing productivity. Their brand image must be an asset to the brand to enhance customer acquisition.
Their posted content should have immense marketing potential and be able to boost return traffic to your website or encourage app downloads to increase your bottom line. A smart marketer monitors their brand’s website traffic, site visit percentage and customer feedback. You’ll have a far better chance of achieving your goals if you use proper tracking and reporting for your marketing campaigns.
With Roster brand ambassador tracking tools, you will get a complete digital footprint of brand ambassadors’ successes and failures.
Measuring Success: Brand KPI Measurement
If you are wondering how to measure brand ambassador success, there are a few key metrics.
Lifetime Value (LTV)
First, brand ambassador success may be measured by looking at the lifetime value of consumers acquired through your brand ambassadors.
The lifetime value of a customer (LTV) is the total amount of money they spend on your products and services over the course of their relationship with you. It’s pretty straightforward math. You add the gross profit from all their purchases minus the associated expenses.
Buyers referred by brand ambassadors typically purchase more and stay active customers longer.
Customer Acquisition Cost (CAC)
Another important measurement is the cost of acquiring a new customer, or CAC. Getting new customers is one of the most expensive things for e-commerce. Worse, the return on the investment can be hard to predict.
To measure and compare your brand ambassador CAC with other channels, divide the number of new customers referred by your ambassadors by the cost of your program.
Brand Awareness KPI
A company’s ability to raise brand awareness or perceived social currency is more challenging to quantify.
In the context of social currency, think of it as the amount of influence you have in the marketplace. If a company receives positive evaluations, it is likely to have more social currency than a company that receives negative ones. On social media, the most popular brands are shared the most frequently or are considered leaders in a given industry.
Measure your brand’s social currency by counting ambassadors’ positive ratings and comments. Although an actual dollar amount is hard to affix to positive online reviews and comments, they are tremendously valuable. In fact, rankings and reviews are often considered a key indicator of an ambassador campaign’s success.
Website Traffic
Another way to quantify your ambassador program is through website traffic. Have your ambassadors share custom links and referral codes. This way, when one of their followers clicks, you can attribute this visit and traffic to your ambassador marketing program.
Watch for spikes in traffic when you launch new ambassador campaigns.
Just make sure your brand ambassadors are happy using your products. This genuine excitement will naturally show up in the content they create, thereby driving your ROI.
What Brand Awareness KPIs Should You Use?
Success in digital marketing should not be short-lived or narrowly defined by traditional marketing methods leveraging search and paid advertising. Instead, it should include significant traffic and sales from your loyal customers and superfans. Based on online communications with the target audience, any brand manager can take advantage of mobilizing their brand ambassador campaign.
A KPI is an essential or key performance indicator used to evaluate the success of different marketing programs. It would be best to determine the KPIs to focus on to measure brand ambassador marketing.
You should create a dynamic dashboard with data about the likelihood of people visiting different social media sites and which ambassadors and user-generated content drive the visitors to your website or download your app. How do they react after reading the brand ambassador’s posts?
Roster has invested multiple years in devising KPIs that accurately measure the most critical metrics and help build successful ambassador campaigns.
Tips, Tricks and Brand Measurement Tools
The best tips and tricks to correctly measure brand ambassador marketing campaigns’ success give marketers a stable platform to understand the impact of brand ambassador campaigns on the digital marketing landscape.
The ultimate result may be remarkable and help enhance brand awareness and loyalty. It can boost your brand and increase the scale of growth your brand needs to achieve. With the best brand ambassador marketing measurement tools and tracking metrics, you can supercharge your social currency and most all, your bottom line.