So close yet so far. Or any other saying I could use to try and describe the feeling you have when looking at a huge file filled with numbers. We know that many times in your daily work routine, you are the one fighting through the labyrinth of data, trying to translate it into usable information to support decision making. Well here's the thing: this isn't the case when it comes to your influencer marketing campaigns at Post For Rent.
You might have already heard us mention data a couple times.. yes, to say that we are firm believers and supporters of data based influencer marketing campaigns is an understatement. Now we'd like to share with you metric by metric the meaning behind each figure and the practical use of it. Before we jump in, please download your example report by clicking here, this will give you a visual idea as we go.
The first thing you'd like to know about an influencer is the platform/platforms they're active on, their reach and engagement rates. Here you can evaluate whether you would like to work on different social media platforms, support your Instagram post with a YouTube video as well for instance.
This tab gives you a summary about the influencer's demographics and performance.
Here comes the exciting part. Knowing your influencer is a great start but ultimately it is their audience you're interested in. They're the ones that you're trying to reach - your potential customers. But are they really? If you're selling a product made for women and 80% of your influencer's followers are men, you are less likely to convert any of them. But let's not jump ahead!
Credibility score is one of our most valued indicators, and for a good reason. Ever since the influencer marketing industry existed, issues such as influencer fraud and bought followers were a thing. Because prices are set based on mostly the number of followers and engagement rates, this means that you'd also pay for followers that don't exist. To tackle this issue, we included a credibility percentage in our report, which shows you how many of the followers are real, and not just robot accounts or paid audience. We normally suggest to work with influencers with an 80% credibility score of above.
Audience location, language, age and gender
Your influencer might be a 27 year old man based in the US - that doesn't mean their followers are too. Audience location is a tricky one, especially if you are aiming to advertise a local sales campaign for instance, that is only available for citizens of a specific country. It is not uncommon that internationally well known content creators from the United States have only 30% of their follower base from their country of origin. In the case of a German influencer, you're likely to see many fans from Austria.
Our audience language indicator works just the same: it is a good idea to check the language spoken by the followers to compose the captures, texts and hashtags accordingly.
Audience age and gender were already mentioned in the introduction and it's pretty straight forward: you want these ratios to be as close as possible to your target group.
Audience category and brand affinity
That's how you really get to know your potential audience's taste. Looking at David's profile - our example for the day - his follower base would be a perfect target for companies operating in the entertainment business.
This metric shows you how many fans follow lots of accounts. This is important because if a big part of David's followers were to follow more than 500 accounts, imagine how lost your branded post would get in their feed. The less account is followed by our influencer's audience, the more chances we get to be seen.
This indicator speaks loudly about an influencer's credibility as well. As it shows how many similar accounts follow our content creator - David in our case - resulting in a great validation method to see if he gets recognition in the industry - meaning that other content creators and brands probably follow him too.
ENGAGED AUDIENCE DATA
Our brand-new addition to the report, the engaged audience data is an extremely deep level of influencer statistics. We go around talking about audience - as if all the 2 million followers of a mega influencer were to be reached and touched equally by their contents. Don't get me wrong, it is important to know the overall numbers, but how exciting is it that we can see separately the same kind of indicators, but only for the followers who actually like or comment? This simple act means that they are the creator's biggest support, therefore our content is more likely to reach them than the rest of the followers who may or may not see or actively catch up on our person's profile. How is this data useful for you in real life? Let's look at an example: the example report you downloaded at the beginning contains David's profile analysis, including audience data by general audienceand by engaged followers separately. The metrics are the same, but the result is not quite. Focusing only on the Audience age and gender for instance, you see that there is a slight difference. While 72% of all followers are women, among his engaged audience this indicator is 77%. This means for us that he already has a strong base of female followers as it is, they are not only following him but actively interact with him through likes and comments, even more than expected, because their % is higher. If I were a brand looking to advertise to female customers of young and adult ages, I wouldn't second guess David's ability to reach my clientele in a hundred years. This slight difference is actually what we are looking for. If the difference between the overall audience data and the engaged audience data is very high, we should be suspicious: how come only a small part of his followers are engaging with him? Might be because he has bought followers as well? These kinds of questions should come to mind immediately.
We now know the basic information about our influencer, just the essentials, and we got a pretty holistic picture about his audience as well.
- Platforms and prices: check!
- Target group match: check!
Now this influencer really is a strong contender. It's high time we dig deeper in his performance. Engagement rate and spread are the basic indicators here, supported by the evolution of their follower base and a comment/like ratio chart.
Here's what we need to know about engagement rates:
- It's calculated by dividing the total reach with the number of average activities on the contents
- There's no such thing as one perfect answer to what is good and what is bad engagement like we have in case of our Credibility score. Engagement rate depends - for instance - on the size of the influencer: macro or mega influencers tend of have naturally lower engagement rates.
- Regardless, our advice is to consider acceptable - in case of an Instagram profile - an engagement of 10% in general, this number can be lower in case of big influencers, but even then, try to stay above 5%
- Looking at YouTube, we advice you to focus on video views, as not all YouTube contents aim to encourage followers to comment or like (engagement rates go around 1-2% in average, so don't be discouraged by that). If the number of views are around 25-50% of their followers, that is good news. In case of bigger creators again, this number will more likely to be close to 25%, and that is a great rate.
Last but not least - as contents are pretty much our protagonists in this story - lets dig deeper in the content analysis data! Checking our potential content creator's social channels is an important step here, we can evaluate the quality and their style in a second but that is not all the information we can find out.
Hashtags are a great way to get a better picture about the topics our influencer is interested in. Based on actual content data, this shows you his personality much more authentically than just checking their bio. It can also give you ideas on what kind of brands and project he's been working on, if a hashtag is used that often, it might mean that he could have been a brand ambassador for that particular advertiser.
Tags work alongside our Popular hashtags section and very similarly, it gives you an idea about the influencer's interests and previous collaborations. A little tip here: you can also spot influencer relationships by looking at the Popular Tags. If you are looking to exploit the power of a joint force, it can be exciting to work with two or more content creators who have a good friendship and often post together.
Data can be indeed a messy, complicated pile of figures. Or it can be a great tool that navigates us along our journey in the influencer marketing world. With this overview hopefully we gave you a little guidance on how to unleash its full power 😉
If you are keen on learning more about the usage of X-Ray, check out our super quick tutorial video! Or in case you already made up your mind and are ready to start analyzing, check our X-Ray Scan tool here 😎