What is Source Impact?
Source Impact is a metric that helps brands evaluate the value and effectiveness of a specific content source, such as a website or an influencer account, in relation to its impact on a brand’s online presence, website traffic, and sales. It is a numerical value that is calculated using an algorithm that considers various factors, such as website and social media metrics.
Why is Source Impact important?
Source Impact is significant because it enables companies to understand which content sources or influencers are driving the most valuable results for their brand. Measuring Source Impact can assist a company in identifying which websites or influencers are the most effective in driving their target audience to take action, whether that be visiting their website, buying a product, or signing up for a service.
Source Impact also plays a vital role in developing optimization tactics to improve overall marketing strategy and measuring the performance of various marketing campaigns. It is one of the most efficient ways of evaluating the effectiveness of influencer marketing campaigns, and can allow brands to adapt their campaigns to get the most out of their collaborations with influencers.
In summary, measuring Source Impact allows companies to make data-driven decisions about where to focus their marketing efforts and resources, which in turn allows them to optimize their marketing strategy and achieve better results.
What is an example of Source Impact?
An example of measuring Source Impact would be a fashion brand that wants to evaluate the impact of a particular influencer’s content on their social media engagement and website traffic. The brand could track the number of likes, shares, comments, and reach on the influencer’s social media posts and compare it to their own social media metrics, which are key metrics of Social Intelligence.
Additionally, the brand could also measure the number of clicks and conversions generated from the influencer’s content by including unique tracking links or UTM parameters in the influencer’s bio or post. This will enable the brand to determine the number of website visitors, pages viewed, and the conversion rate coming from the influencer’s content and compare it to their overall website metrics.
Furthermore, the brand could measure brand mentions by tracking the number of times the brand was mentioned in comments or hashtags related to the influencer’s posts. By tracking these metrics, the brand can have a better understanding of the impact of the influencer’s content on their social media engagement, website traffic, and sales.
In summary, a brand can measure the Source Impact by tracking key performance indicators such as social media engagement, website traffic, conversions, and brand mentions. By tracking these metrics, a brand can understand which influencers are driving the most valuable results for their brand, and use that information to optimize their influencer marketing strategy and make more informed decisions on future collaborations.
Calculate Source Impact
The Source Impact is calculated by assessing the factors of:
- web metrics (site views, unique visitors, time spent on site, bounce rate etc)
- social media metrics (number of followers, page likes, reactions, retweets, comments and shares).
The Source Impact is a metric that measures the value that a particular content source, such as a website or an influencer, brings to a brand. It allows companies to evaluate the effectiveness of their marketing efforts and determine which campaigns and influencers are driving results. The Source Impact is calculated using a specific algorithm and represented as a value between 0-100, where it represents the degree of influence of the source and the value it represents within the digital system.
Read more about Source Impact
How L’Oréal aligns its social media strategy using Palowise
How Nestle measures campaign success and manages its brand reputation
How Tommy Hilfiger uses Palowise to discover & analyze influencers
- #1:Use the industry's top artificial intelligence to handle the heavy work for you and gain insights in minutes.
- #2:Receive an alert if something major occurs near your customer.
- #3:Identify the influencers, material, and messaging required to generate success in real-time.
- #4:Manage cross-channel campaigns with multidisciplinary groups and infinite channels.
- #5:Monitor engagement and sentiment to get valuable insights.
- #6:Monitor trending topics of discussion among users.
LET’S GROW YOUR BUSINESS TOGETHER.
CONTACT US NOW.