Alright, my fellow marketing mavericks, let’s talk shop. We’re unearthing the secrets of brand ambassador marketing measurement. Envision this subject as rejuvenating as a brisk hike through the wilderness. It’s as fundamental to every entrepreneur and brand manager as fresh air filling our lungs. It’s an indispensable tool for those who have their sights set on a healthy ROI. And for those who need to showcase their spectacular results to senior management or investors.
Now, shall we embark on this exciting expedition?
Brand ambassador marketing measurement is more than a notch on your marketing belt. We all know brand awareness campaigns are the bread and butter of marketing. Seriously, what thriving company doesn’t spend a hefty chunk of their budget on marathon campaigns to bolster their brand and product awareness? And here’s the truth bomb: an effective brand ambassador measurement method is a ticket to seeing how much your brand ambassador program is really buttering your bread, or in less delicious terms, translating to revenue.
A squad of savvy brand ambassadors can indeed help you sidestep a whole heap of potential slip-ups while promoting your business. Cue the drumroll for Roster’s ambassador portal. This shiny tool helps you swiftly and smoothly track and assess activities.
With brand ambassadors fiercely dedicated to your brand awareness expedition, constant scrutiny is a must. Do they have the chops to boost web traffic and enhance your ecommerce website or SERP rankings?
Fret not! Roster is your sherpa on this journey. This handy brand ambassador platform equips brand marketers with a robust system to trace growth, impressions, engagement, referral sales, and more.
“So why the devil is it so hard to measure brand ambassador success?” you may ask.
Beyond the budget invested and return on investment, a whole bunch of factors can muddle this equation. Your brand ambassadors carry the mantle of boosting brand awareness, sales, and overall marketing productivity. Their brand image must shine like a beacon, luring in customers and enhancing acquisitions.
And the content they post? It should be packed with marketing potential, driving return traffic to your website or nudging folks to download your app. A seasoned marketer will keep their fingers on the pulse of website traffic, site visit percentages, and customer feedback. Remember, a good tracking and reporting system for your marketing campaigns is like a compass in the wilderness – it helps you navigate towards your goals.
With Roster’s brand ambassador tracking tools, you’ll get the whole picture of your brand ambassadors’ triumphs and missteps.
The tracking of individual ambassadors and campaigns is seamless. You’ll see:
When it comes to measuring brand ambassador success, some key metrics could be your guiding stars.
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.
Customers referred by brand ambassadors typically stick around and keep their wallets open.
Next up, we have the cost of acquiring a new customer, or CAC. Getting new customers is one of the most expensive things for e-commerce. In the ecommerce world, finding new customers can be as challenging as hunting for a unicorn. And the ROI can be just as elusive and quite difficult 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.
In the realm of brand ambassador marketing measurement, the ability to amass social currency is a feat worthy of admiration. Think of social currency as the clout you wield in the marketplace. Picture social currency as the influence you command in the marketplace. If a company’s reviews shine brighter than the North Star, it’s safe to say that it’s rolling in social currency. Over in the buzzing hive of social media, brands that garner the most shares or are perceived as industry trailblazers are the ones basking in social currency.
You can calculate your brand’s social currency by counting your ambassadors’ thumbs-ups and positive chitchats. While it’s tricky to stick a dollar value to rave online reviews and comments, they’re extremely valuable. Indeed, rankings and reviews are often the barometer of an ambassador campaign’s success.
And speaking of value, let’s not forget the proverbial jewel of brand ambassador marketing measurement – Earned Media Value (EMV). It’s the brilliant sparkle of your brand through word-of-mouth, shares, likes, and comments. To learn more about the power of EMV and how to effectively harness it, I highly recommend diving into our comprehensive ebook. It’s packed with insights as enlightening as a lighthouse guiding ships in the dark.
Another way to evaluate your ambassador program is by keeping tabs on website traffic. Ask your ambassadors to share custom links and referral codes. When one of their followers takes the bait, you can chalk up this visit and traffic to your ambassador marketing program.
Take note of spikes in traffic when you unleash new ambassador campaigns. And remember, if your brand ambassadors are thrilled with your products, this genuine enthusiasm will naturally seep into their content, fueling your ROI.
Succeeding in digital marketing isn’t a flash in the pan, and it’s not solely about traditional marketing tactics that leverage search and paid advertising. It should encompass a significant influx of traffic and sales from your loyal customers and superfans. Guided by online interactions with the target audience, any brand manager can make their mark with a brand ambassador campaign.
A KPI, or key performance indicator, is a vital tool for assessing the success of various marketing programs. To master brand ambassador marketing measurement, you’ll need to pinpoint the KPIs to focus on.
It’s worth creating a dynamic dashboard displaying data about the likelihood of people visiting various social media sites and which ambassadors and UGC are luring visitors to your website or coaxing them to download your app. How are they reacting to the brand ambassador’s posts?
Roster has put several years of blood, sweat, and tears into developing KPIs that accurately measure the most crucial metrics and help construct winning ambassador campaigns.
When it comes to measuring the success of brand ambassador marketing campaigns, a few tips and tricks can offer a solid foundation to understand the impact of these campaigns on the digital marketing landscape.
With the right brand ambassador marketing measurement tools and tracking metrics, you can turbocharge your social currency and best of all, your bottom line. The end result can be extraordinary, helping to augment brand awareness and loyalty, and giving your brand the growth spurt it needs.
There you have it, folks – a crash course in brand ambassador marketing measurement. Now you’re equipped to navigate this exciting territory and, who knows, maybe even become the Lewis and Clark of your marketing department. Happy exploring!