The fitness industry is known for being as competitive as the athletes and workout enthusiasts who are constantly on the search for new gear, exercise programs, and services that help them achieve their goals. Making sure that your brand stands out among the rest involves creating an effective marketing plan that utilizes every tool possible to the fullest advantage. Influencer marketing is rapidly becoming a vital way to increase sales in the fitness industry, and it’s easy to see why.
Fitness influencer marketing is recognized as being highly effective for maximizing the ROI on marketing that companies achieve. Recently, it was found that companies are making around $6.50 for every dollar they spend on influencer marketing. One of the biggest reasons for the higher ROI compared to other forms of marketing is that negotiating for user-generated content rights tends to be less costly compared to working with professional studios. Additionally, you’ll have the ability to repurpose content across a wide range of channels to target people at every level of the marketing funnel.
While you may be ready to buy into fitness influencer marketing, it’s also normal to be sweating a bit about how you’ll crunch the numbers. Measuring ROI in influencer marketing requires some careful analysis of the key performance indicators and data, but we’re here to help you each step of the way to make sure you’re hitting your company’s goals.
Start By Gathering Essential Metrics and Data
Start By Gathering Essential Metrics and DataHandy marketing ROI calculators are available to find online, but you’ll first need to know some essential information before you can start crunching numbers. Ideally, you’ll need the following forms of input available to help you start figuring out the ROI of your most recent marketing plan.
•Total cost of the campaign
•Number of people reached
•Engagement rate
•Conversion rate
•Average revenue per completed sale
If you struggle with coming up with all of the data that you need to run an ROI calculator, then don’t worry. Our marketing pros know exactly how to get the information that’s necessary to run an accurate calculation that improves your ability to get a full view of what impacts the ROI rate.
Analyze the Calculations
Once you’ve entered the data, you’ll be able to determine the final ROI rate based on how much the influencer marketing campaign generated versus the final cost. Ideally, you should see a positive final ROI percentage rate, which indicates that the plan is working. However, you’ll want to avoid allowing a positive ROI to allow you to grow complacent.
In the marketing industry in general, there are frequently more ways to increase the ROI than you might see at first glance. For instance, working with an established marketing agency can give you access to a wider range of influencers that allow you to have more freedom in finding the best rates for their services, thereby lowering your overall marketing costs.
Additionally, our team can help you identify other potential channels that you can use to repurpose the content and increase the use of each influencer marketing strategy you include in your plans. For instance, you might be able to use influencer-created content in emails and other promotional works by planning for it in your contract.
Run An Influencer Marketing ROI Comparison to Previous Campaigns
Once you’ve determined the ROI on the most recent fitness influencer campaign, it’s beneficial to see how it compares to other types of marketing campaigns. Since influencer marketing tends to require less of an upfront cost compared to hiring professional actors, models and videographers, you should see that the ROI is greater than what you’ve seen in the past. Keep in mind that you may still need to use other forms of marketing campaigns since mixing strategies tends to give the the best results. But, investing in fitness influencer marketing can help you to begin to see higher ROI rates starting now and into the future.
Getting the highest ROI on a fitness influencer marketing campaign requires strategic pre-launch planning. At SemGeeks, we take our time to carefully help companies define their objectives and identify key performance indicators that we can use to track the success of an influencer campaign during and after the launch. Using qualitative data, we can then adjust our plans according to the response while fine-tuning the campaign to achieve the highest ROI possible. If you need help analyzing the ROI of a fitness influencer campaign or planning one from the beginning or mid-stages, then reach out to our team to get professional marketing insights that work.
