Update November '23:
You can now manage and link all your influencers, campaigns and cooperation in our Influencer CRM. See how this works in this article: Influencer CRM.
Still, for initial import of your influencers into the CRM, the Google Sheet mentioned below can be used.
tl;dr
Enter all details of your influencer and affiliate partnerships in a Google Sheet specifically designed for those channels. Klar automatically matches these up with data from your shop and analytics datasources.
UPDATE NOV' 23: manage all your influencers and campaigns in our Influencer CRM (can be initially uploaded via a sheet)
The Influencer Trends report gives you an overview of all the core metrics and compare different dimensions to identify what's working.
The Influencer Flex Table allows you to drill deep into your data and slice and dice across any dimension. Plus, it contains some advanced metrics like Reactivated Customers, CLV/CAC Ratio and much more.
Video description:
00:09 - How does the reporting process for influencers and affiliates begin?
00:44 - What data can be tracked for influencers and affiliates?
02:04 - How are posts and their effectiveness recorded in Klar?
03:09 - How are the costs and remuneration for partnerships managed?
04:03 - How does the tracking of discount codes and UTMs work?
04:51 - How is the collected data used for reporting purposes?
07:55 - How is the effectiveness of influencer posts measured over time?
08:23 - How is customer behaviour analysed in relation to influencer codes?
08:56 - What is the CLV vs. CAC ratio for influencer campaigns?
09:31 - How do you measure the reach and engagement of influencer campaigns?
09:57 - How does the reporting system enable detailed analysis based on custom dimensions?
10:28 - How does the reporting system help identify trends and patterns in influencer campaigns?
Influencer & Affiliate Google Sheet
Most eCom brands still track their Influencer marketing via a spreadsheet. So to neatly fit into that, we also created a Google Sheet template that allows you to track everything relevant for influencers and affiliates.
Most of these like campaign name, influencer/affiliate name, platform etc. should be self-explanatory.
I will just cover the ones less obvious in writing (for full details just watch the video where we go over everything).
What is being matched
We match the data from the Google Sheet into your shop and analytics data. For that we use both discount codes and UTM parameters. If one of those matches, a conversion is assigned to that partnership.
You can also use multiple discount codes for the same partnership by simply comma-separating it.
Posting Date & Date Association
The dimension posting date defines when a certain partnership went live.
Metrics like fixed costs or followers will be assigned to this day in the reports.
Revenue, orders and sessions will be assigned to the date that they actually occurred on.
Data is being continuously matched into a partnership until one of two things happen:
You have defined the dimension End Date and the date has been reached.
You have a second partnership with the same influencer name, discount code, AND UTMs at a later date in the sheet. Once that later date is reached, data will start matching into that partnership.
Costs
Costs structures are usually negotiated on a case by case basis and therefore can vary. We built our sheet to give you the flexibility you need to accurately track and calculate costs.
Fixed Costs = Fixed costs assigned to the posting date.
Variable Cost - Percentage = If your partner gets a percentage cut of revenue, define here how much
Cost Reference - Percentage = Define if the percentage is based on Gross Revenue, Gross Revenue - Returns or Net Revenue
Variable Costs - Fee = If your partner gets a set fee for every order/new customers, define here how much
Cost Reference - Fee = Define if the fee is based on Gross Orders, Net Orders or New Customers
UTMs Parameters:
Here you can enter the tracking parameters for every partnership. Be sure to have unique parameters for every parter.
Here is what a naming convention could look like:
source = platform (eg. Instagram, Youtube, Twitch)
medium = influencer
campaign = campaign name
term = influencer name (needs to be unique)
content = advertised SKU
Featured SKU
Simply enter the SKU of the product that was advertised. That way, we can later tell you what share of the sold units through this partnership came from this SKU.
Override UTMs Dimension (coming later)
If set to use, an order will be assigned to the channel influencer marketing, even if the last-click UTM parameters of the customer indicate otherwise.
Influencer Trends Report
The Influencer Trends Report visually breaks down how all your core efficiency and effectiveness KPI are evolving over time.
It is designed for you to get a quick overview of how your influencer & affiliate program is developing and effortless identify top & bottom performers.
By default, the breakdown is set to Total so that only one line will be shown in each chart. However, you can adjust this breakdown to be based on one of the many dimensions defined in the Google Sheet such as Influencer, Campaign or Platform.
That way, you will get an entry for each defined option in all these charts.
Influencer Flex Table
The Influencer Flex table gives you the ability to dive deep into your data.
Like with all Flex Tables in Klar you have access to a bunch of different dimensions you can analyse but also layer multiple dimension on top of each other to get into the details.
There are four different tabs on top, each containing different types of information:
Acquisition Tab:
This tab contains all your core acquisition data like session, conversion rate, orders, revenue, acquisition revenue, contribution margin 2, new customers, CAC and much more.
Revenue's and orders where either the discount code or the UTM parameters have matched are assigned here.
A unique metric is Reactivated Customers.
This metric tells you have many orders came from customers that had the recency state defected before placing this order.
This helps you to understand not only how many new customers you acquired but also how many previously lost customers you were able to reengage.
Conversion Tab:
This sections contains quite a few gems.
Within xx Days - How many days after the posting date and order was placed
% promoted SKUs - What percentage of the sold SKUs were the advertised SKU
% UTMs only - What percentage of the assigned orders contained the matching UTMs but not the discount code
% Discount Code only - What percentage of the assigned orders contained the matching discount code but UTMs
% Previous Orders Same Code - what percentage of the repeat customers used the same discount code in their previous order
% Previous Orders Influencer Code - what percentage of the repeat customers used a influencer discount code in their previous order
Retention Tab:
Very similar to the cohort comparison report, only that here we not only can determine the CLV of customers but also accurately calculate the customer acquisition costs.
That allows you to easily identify partnerships that are most profitable long-term.
Reach & Engagement:
This tab contains all you core reach and engagement metrics.
We also calculate how much your actual reach and sessions deviated from what you expected. That way you understand more easily why a specific partnership may or may not have worked as planned.