The growth in the use of influencer marketing has a lot of brands clambering to secure good relationships with these powerful individuals. However, succeeding with influencer marketing means taking a strategic approach. You need to analyze the right data surrounding each influencer and their reach so that you can determine the right one to pursue.
But what is the right data? In general, there are two approaches: follower demographics and performance stats. Both are important, but depending on the needs of your campaign, you may want to give more importance to one over the other.
Here is a breakdown of why these different metrics are important and when you should use them to help you plan your influencer campaign.
These are useful in helping you decide which influencers might be a good fit for your brand. Demographic information to look for includes:
- Age, location, gender/sex, income level, lifestyle. The first step in determine your audience is to narrow things down using these basic parameters. It may be that you can’t do much, leaving you with an audience such as “adult males aged 18-50.” But this will at least help you eliminate influencers who have little or no relationship with your target audience from your list of potential collaborators.
- Interests, beliefs and values. These are a bit harder to pin down, and you may need to rely on some qualitative data from the influencer with which you’re collaborating. But finding people who have pull with audiences who share your brands interest, beliefs and values is critical to encouraging affinity.
- Social media preferences. How do people find out about your influencer? Where do they engage the most? And how does this align with the preferences of your target audience? An influencer may be great at driving Facebook engagement, but they could struggle on Instagram. So, if your target market isn’t big with Instagram, there’s a good chance this influencer won’t be a good fit. Make sure to determine this information before beginning a campaign.
When to Use Demographics
These should be the first metrics you look at when starting to plan a campaign. Peruse Facebook, Instagram and other social media platforms for influencers who may be aligned with your target audience. Then take a look at some of the demographic stats to give you an idea of who would actually be able to reach the people you want to reach.
Demographics are important in narrowing your search from “all the influencers” to “relevant influencers.” But once you do this, you’ll need to dig deeper into the data to find the right influencer for you.
These are helpful in determine the likelihood of success for a campaign. Key performance states to look for are:
- Engagement: How many people click on, like, share, reblog, comment, etc. on your influencer’s content? This will help you get an idea as to how well influencer marketing will help you spread brand messaging.
- Conversions: How many people took a desired action as a result of engaging with influencer content? In other words, if the influencer is promoting a product, how many people bought it as compared to how many people were exposed to it? Or, if the influencer is encouraging people to sign up for an email list, how many new subscribers did they recruit? All of this will help you determine the efficacy of running a campaign with that person.
- Reach: How many people see the influencer’s content? This measure isn’t as reliable as engagement or conversions, since you can have great reach but poor engagement, which doesn’t do you much good. Yet it’s still an important thing to consider, as it will give you an idea of the effectiveness of the influencer.
When to Look at Performance Stats
These metrics are useful when the goal of your campaign is something more tangible, such as driving sales or getting new users. And they should be looked at after you determine influencers who might be a good fit.
You’re hoping to encourage an action from the influencer’s audience, so after you’ve determined that the influencer can in fact connect with the people you’re targeting, it’s important to then look at this person’s past ability in actually making this happen. Otherwise, you may find yourself in a situation where the influencer is simply unable to deliver what it is you had hoped they would be able to, leading to frustration, or, even worse, a wasted investment.
More Data Is Always Better
Influencer marketing is an inexact science, but it’s still a science. Make data collection and analysis a key part of your campaign and you will be in a better position for success. The tools at WOW Influence will help you analyze both demographic and performance data so that you can choose the right influencers and use this tactic to transform your brand.