In the early days we only had follower numbers to rely on, then it became engagements and engagement rate (the amount of interactions – likes and comments – a post gets compared to the amount of people following the profile).

But now the influencer space has matured a lot, and the data points are basically almost countless. 

So, what should you look for? And what is most important? That you will get a very good idea of, after reading this.

Please note, that the relevance of data points can vary according to what your KPI’s for a particular campaign or strategy are. And what your budget actually covers.
I.e. should it only cover targeting people in one particular country? Does it only cover getting people to visit a particular physical location?
All that impacts the way you should prioritize looking at data and what you have to compromise on. 

How active should an influencer ideally be?

Let’s focus on Instagram since it is the most popular one for most businesses that do influencer marketing historically. 

To start off we have seen a shift towards people becoming more active on Instagram Stories.
But it is important that the influencer posts in the feed as well? The short answer is yes. It impacts a profile’s reach, if an influencer is not active “enough”. 

So, what to look for?

1) Macro/mega influencer activity

When a profile has reached a certain amount of followers, it is oftentimes a major part of the influencers income. This requires them to be extra active on their social profiles to stay relevant. And it leaves them with more time to actually create and post content. So a golden number to go for, is a minimum of 10 content pieces per month on average in their feed. 

2) Micro influencer activity

Micro-influencers oftentimes use their social media as a hobby. This leaves less time for them to create and post content. So for micro influencers other rules apply. And this is where we prefer for them to post a minimum of 3 content pieces in their feed per month. But of course, the more the better. This serves as a lower threshold and what we recommend to ensure that the account is actually active.

3) IG story activity

Ideally they should always be active on stories, with at least 2-3 live stories at a time. 

4) What about TikTok and Youtube? 

You want your influencer to post at least 6 times per month on TikTok. You want your YouTube influencers to post at least 3 videos per month.
But the more the better. This goes for both small and large profiles.

Impressions. And the reason impressions are what you want to measure, and not reach.

Impression efficiency rate is your go-to metric. We have moved on from looking at an influencer’s follower amount to looking at how many people they actually reach. But we do not look at reach (primarily), we look at impressions.
Specifically, impression efficiency rate which is the percentage of avg. impressions you get on your feed content. So, what is a good impression efficiency rate? 

5) Impression efficiency for posts

For posts, 50% is where you want to be. This is what should be considered an acceptable efficiency rate. This does not mean that you should not work with influencers who have a lower impression efficiency rate, this just means that you should be very focused on what you are paying – and what you are paying for. Is it mainly the content that is important to you? Or is it the ability to target a narrow niche? Or is the influencer okay with you paying for the impressions the content is actually generating? Or the target audience impressions? More on that later.

6) Impression efficiency for stories

Stories naturally have a lower view rate, since they are only visible for a limited time. We see that 15% impression efficiency on stories is an attainable and good rate, which tells us that the influencer stays active and relevant, and their stories are “worth watching”.

But the higher the number the better, obviously. If you are looking for an influencer to drive sales, you want their impression efficiency rate on stories to be at least 20%. Why? Because a high view number on stories tells us that their stories are of extremely high quality to their audience. They probably speak to the camera, they provide great entertainment or inspiration, that leads to a higher trust level with the influencer which results in them being better at telling stories and captivating attention, leading to more and better conversions.

8) Spotting fake followers

Having the necessary data while looking at influencers, you also get access to audience demographics. Oftentimes, your marketing budget needs to cover a specific geography. I.e. a specific country. This increases the need to find influencers that cover that particular region. To reduce your workload and avoid activating more influencers than needed, opt for those with a significant number of followers in a specific country.

9) Engagement rates and spotting fake engagement

Engagement rates can vary a lot, so you should not base your primary scouting terms on this and also look at audience demography and impression efficiency.

Spotting fake engagement

#1 This first graph shows us a natural engagement development. Some content performs well, some content performs poorly and most content will be somewhere near the middle. That is normal distribution of engagements.

In order to spot fake engagement, you need to look for abnormalities. This could be an unusual development in engagements i.e. a big jump or maybe too few variations. Please see the examples below.

#2 Here we see an influencer who either stopped buying engagements or who used to delete all images that did not get over 200 likes. Or a combination of both.

#3 In this next example we see that no posts have below 1.4k engagements. This is a clear sign that the influencer buys approx 1.4k engagements on all posts and the rest is probably organic engagement. This was a travel influencer with 100k followers.

10) How to search for influencers with an older audience

Finding influencers with an older audience can be hard! But using Woomio’s discover tool it becomes way easier. The easy hack to this is: add 10-15% in the field of the 34-44 age group.

11) What is a good CPM in influencer marketing?

Historically we see that a good CPM is 300 DKK. Some businesses can get CPM’s of under 100DKK, but it is very seldom and requires a certain brand and product.  

Overall, it is difficult to say what is a good CPM for YOUR business. You need to start somewhere and move your way towards improvement.
Competing with yourself and your own metrics is a more realistic way of approaching your CPM.

The post Influencer Marketing Success: 10 hacks and metrics appeared first on Woomio.

Denmark’s Rasmus Højlund had a remarkable career progression, starting at B93 Elite at age 13 before swiftly joining Brøndby at 14. He later moved to Holdbæk B&I and then F.C. Copenhagen (FCK). After playing for the U17 and U19 teams, he was promoted to FCK’s first team. Despite a turbulent transfer, he left FCK after helping them win the championship and performing well for the Danish national team. At 18, he moved to Sturm Graz in Germany, with a transfer fee of 14 million DKK and a salary increase to 7 million DKK. After half a year, he decided to leave and was subsequently sold to Atlanta for 130 million DKK with a salary of 33 million DKK. Rasmus frequently shares his joy on social media, often posting about matches, vacations, and football-related moments.

 

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Vilde Bøe Risaer is a Norwegian women’s football player who plays for both Manchester United Women and the Norwegian national team. She plays as a defensive midfielder and is sponsored by Vitamin Well and Adidas, who send her drinks and football shoes. In the 22/23 season, Vilde has played 12 matches, scoring 0 goals and providing 1 assist. Her professional football presence is mixed with her Instagram, where she often posts about matches and the team on her stories or posts. Vilde also does a few advertisements. On her social media accounts, you can see various tags of different companies in her bio, including Vitamin Well and a Scandinavian advertising agency. However, sponsorship deals are common for all football players nowadays.

 

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A post shared by Vilde Bøe Risa (@vildeboe)

Anders Trondsen is a Norwegian professional football player who plays as a left-back for Allsvenskan club IFK Göteborg. He was born on March 30, 1995, in Lillehammer, Norway. He began his career at Lillehammer FK in 2011 and has since played for Stabæk, Sarpsborg 08, Rosenborg BK, and Trabzonspor. He made his debut for the Norwegian national team in a 2-1 defeat against the Czech Republic in November 2016.

 

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A post shared by Anders Trondsen (@anderstrondsen)

Roony Bardghji is a Swedish football player who plays for F.C. Copenhagen. He was born in Kuwait in 2005 and has Syrian parents. He started his career as a youth player in clubs such as Kallinge SK, Rödeby AIF, and Malmö FF. In 2020, he joined F.C. Copenhagen and made his debut for the first team shortly after turning 16. He became the youngest goal scorer in the history of the Danish Superliga. He has also played for the Swedish U-17 and U-21 national teams. His contract with F.C. Copenhagen runs until the end of 2025.

 

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A post shared by 𝐑𝐨𝐨𝐧𝐲 𝐁𝐚𝐫𝐝𝐠𝐡𝐣𝐢 ︎ (@roony.bardghji)

One thing that many people notice is how football players spend more time on Instagram, Facebook, and other platforms after they retire. It is clear that the content ranges from supporting their old teams to sharing memes and advertisements. If we take someone like Ronaldinho as an example, it becomes evident that footballers’ social media accounts become more advertising-focused after retirement.

However, some active football players also engage in advertisements. We have seen Messi participate in a series of Pepsi commercials, as well as smaller players.
This leads to the observation that many football players could be on the path of becoming up-and-coming football influencers. Often, football players stay in their field after retiring, becoming coaches, assistants, or club owners like David Beckham or Oliver Kahn.

The most common way for football players to advertise is by endorsing various brands such as Nike, Adidas, Puma, Hummel, and others. Big-name players sign contracts worth millions to wear specific brands’ boots. In some cases, they also collaborate with shoe brands to create collections based on the models they wear.

The post The Next Generation of Football Stars: Meet the Up-and-Coming Influencers appeared first on Woomio.

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Data tells you what the influencer’s audience is interested in – and if this aligns with your brand and your products. 

Data also tells you if your influencer has a good (or not-so-good) impression efficiency. Meaning, if they are good at actually reaching the audience they have. 

Admittedly, we’ve data running through our veins. Yet, we’ll, at any time, advise you to do this:

As we explain in our beginner’s guide, you can choose to do this manually, by using an agency (because they usually already have a network of influencers), or by using an influencer marketing platform that helps you find influencers for your brand with various filters.

The post It’s a Match! How You Choose and Find the Right Influencer For Your Brand appeared first on Woomio.

It is a well-known fact that technology and social media have caused significant changes in our lives. The effect is visible in every single aspect of our daily routines and behaviour. For instance, the way we search for products, shop, consume and perceive advertisements.

Social media has changed a lot throughout the years. It has transformed from an inspirational digital platform to a crucial marketing tool, which allows brands to connect and engage with their audience. Throughout time, more people are joining social media platforms daily by creating their own personal accounts. According to statistics, social media users are growing by up to 9% each year.

In fact, the number of Social Media users is growing with up to 9% each year.

Some of these users, however, are very unique. In fact, they are well-respected public figures with established credibility and trustworthiness in a specific industry. To sum it up, we call them “influencers”.

Influencers create inspirational content, which provokes positive feelings among their enthusiastic followers. Therefore, their strongest power is the ability to affect their audience’s decisions because of their credibility, favourable image, and constant engagement.

How can influencers be beneficial to your brand?

Nowadays consumers meet a tremendous amount of ads offline, as well as online.

First of all, the logical consequence of this exposure of promotional materials is the consumers’ absolute indifference towards them.

Consequently, ads are not that effective nowadays, as they were in the past. For that reason, marketers have to find a new way to influence buyers’ perceptions and to connect with them.

However, 74% of consumers submit a purchase influenced by social media.

Having in mind that people trust people over logos, a beloved influencer can build the positive reputation, which your brand needs.

According to a study by ODM Group, 74% of consumers’ buying decisions are influenced by social networks.

A collaboration with influencers is the essence of Influencer Marketing, which is the modernized version of WOM. Marketers must take advantage of the trust placed on influencers and use it as social proof, advocating for their brand.

What is it and how does it work?

Influencer marketing is usually part of a social media marketing strategy. It is an approach, which is based on active communication with customers. The right influencer can fill the gap between your company and potential customers, making you stand out among other businesses. Consequently, your strategy could be more community-focused, emotion-driven, and have a big impact on your social engagement.

As a matter of a fact, 84% of companies plan to implement such a strategy.  Already 81% of companies have successfully familiarised themselves with it and claim to be satisfied with the results.

An influencer marketing campaign will bring a company closer to its customer, by making it more approachable for the audience. So, consider influencers as part of your media mix, so that you can add this human touch to the brand. It will make the promotional experience more personalized and credible. Above all, buyers adore it.

Partnership with an influencer is one of the most trusted and effective methods of reaching consumers. Currently over 84% of companies are planning to implement such a strategy, while 81% are already familiar with it and claim to be satisfied with the results.

If you want to learn more about Influencer Marketing and how it can help your business, make sure you download our free E-book.

The post Why You Should Use Influencers as Part of Your Media Mix appeared first on Woomio.

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What is TikTok?

Just a quick look into what TikTok is all about. TikTok is a video-centric social media platform where you can see and share videos up to 3 minutes across an array of topics. It’s a creative space for those who wish to make fun, artistic and inspiring videos that they can share with other people. According to SensorTower, TikTok was one of the most downloaded social media apps worldwide in January 2020. Today the platform has around 800 million monthly active users, making it one of the most prominent social networks across the world. 

Targeting a younger audience

If your brand wants to tap into the purchasing power of Generation Z, TikTok influencer marketing is definitely worth considering as the platform assists you in achieving brand exposure and reaching your target audience. TikTok content resonates with Generation Z, and the influencers active on the platform are already masters of producing inspiring and creative content that catches followers’ attention.

Work Effectively with TikTok Influencers

Setting up the right KPIs and objectives will help you to succeed and execute your campaign, as well as to identify the type of influencer that will be the best match. 

First of all, you need to establish a clear goal and know why you want to work with TikTok. The strategy around your influencer campaigns may differ, so it is important to consider the purpose and goals before getting started on a  new campaign. Is the purpose of the campaign to increase brand awareness surrounding a specific product or service, or is it all about converting more sales? If your goal is to drive sales, you may want to focus on an influencer who works within a specific niche; one who may be less well-known, but more aligned with your target audience. Therefore, knowing your audience is crucial if you want to create a successful campaign. Nonetheless, knowing your audience goes far beyond considerations of age and location – whilst you will of course need to take these factors into account, you also need to be aware of the interests of this target group. Perhaps you have already set up personas for your company meaning that you can easily use them in your influencer campaigns. If you haven’t, it would be a good idea to start now. 

TikTok Influencers

As with other social media platforms, a TikTok influencer is someone who influences other people. They can often be pinpointed by being tastemakers or trendsetters based on the number of people that are following their accounts who have a genuine interest in them and the content they share. If you are looking at influencer marketing from a marketing perspective, the worth of an influencer can be evaluated according to factors including a number of followers and engagement rate. But sometimes these two indicators aren’t enough, and it is also necessary to consider whether the influencer is the right fit for your company when it comes to the ‘look n’ feel’. 

As we have mentioned in one of our previous articles, influencers typically have a high social standing which inspires consumer confidence in the product or service that they promote.

How to get started

First of all, you need to make sure that your company’s target audience engages with the influencer you select for your campaign. The whole point of working with influencer marketing is to ensure that you reach your target audience through a trustworthy representative within your niche. Below we have outlined some tips on how to find the right influencer for your company: 

#Hashtags

So how do you start your search for TikTok influencers? A good starting point is to search for hashtags, as this will help you to filter the types of profiles that are relevant to you. The majority of videos posted on TikTok use certain hashtags, making this a highly useful search tool. 

If your company operates within a specific niche, searching for industry-relevant hashtags, in particular, may help you to target the right influencers – but only if they have used these tags in specific posts. If influencers are using a specific hashtag, it’s likely that their followers are engaged or interested in content that relates to that specific hashtag, therefore indicating that they match your target audience. You should aim to collaborate with influencers who have an insight into the audience that you are trying to reach, to ensure that their content will engage their followers in a way that benefits your company. 

Topic-based search

If you are looking for influencers who are passionate about a specific topic such as makeup, running or cooking, you can try searching for the specific topic by using hashtags as well. But, be aware that some influencers might only have used the specific hashtag for one post, meaning that this is not an indicator of the general topics this influencer posts content about. In the influencer’s bio, they are likely to have written about their main topic, so this could also be a way of identifying an influencer according to their interests. As a company, it is not to your benefit to work with an influencer whose main audience is interested in another topic, so making sure your influencer is aligned on the interests within your niche is key to delivering a successful campaign.

Location-based search

If your product or service is only sold in certain countries, you need to make sure that the influencer’s audience matches those countries. Doing a collaboration with an influencer whose target group is based in another country than you are focusing on, will result in limited value. If you would like to drive traffic to a physical store, you can try finding an influencer whose followers are geographically located near the store. For example, if you are a jewellery company with a store in Copenhagen, you could collaborate with a Copenhagen-based influencer who has an interest in jewellery and fashion and ask them to do a video inside your store. Be aware that an influencer’s location in a specific country or city does not necessarily mean that their followers are located in the same place, as they may still have followers from many other countries. A way to target a more specific country would be to collaborate with influencers who only create content in their native language. 

Follower size

Paying an influencer according to the number of followers they have can be a costly affair. If the majority of the influencer’s followers do not match your target group, the collaboration can have a limited value. 

Working with micro-influencers that are operating within a very focused niche can create a lot of value. Despite having fewer followers, they are more likely to be masters of creating content around a specific topic. For instance, if you sell bagels, you can even find influencers who make videos preparing bagels in different ways. 

Engagements, views – the efficiency rate
An influencer with a lot of followers but a low engagement or view rate could indicate that either something is not quite right, i.e. that the influencer is not posting frequently, no longer is active or that the content is of bad quality. Perhaps they perhaps grew their following due to one  1 viral video) or maybe they changed the subject they are posting about. Sometimes a low engagement rate can also be caused by other factors such as the age of the influencer’s followers. Either way engagements and views are two metrics that you need to take into consideration. 
All in all, you need to assess the quality of the content and evaluate the influencer’s audience before starting a collaboration. 

Cross-channel presence

Check if the influencer is active across other social media platforms. If they already have a substantial following on other media such as Instagram and YouTube, they might also be growing their TikTok fanbase. 

How to work with influencers on TikTok

Affiliate links

There are different ways of working with TikTok influencers. One thing is for sure – you want to encourage influencers to keep promoting your brand in the long-term, so you might consider paying them via commission or combined with a one-time fee. So how do you do that? Influencers have the possibility to add an affiliate link in their bio so that their followers can click on your website. The influencer can make money on the sales that he or she creates through this link. 

For example, you can ask the influencer to make a video where they refer to the promotion offer you have agreed to. This helps to generate traffic to their profile from which their followers can enter your website. Another advantage of the influencer making a video is that it can go viral and reach a much larger audience than their number of followers alone – if that’s the case you can end up getting a huge number of sales if quality content is created. So, there are both sales opportunities in it for you, but also the opportunity to achieve greater brand awareness. If the video is exposed to a lot of irrelevant people, there will be no need for you to pay, as you only pay for the sales conversions the influencer makes. 

You can easily track influencer sales in our campaign management feature, click here for a free demo.

Let the influencers do their thing

TikTok values creativity and you want the collaboration to be trustworthy. Therefore, it’s important that you give the influencer license to help execute your campaign. Make sure to have a playbook, so that you can guide their message and give some inspiration. Try not to be too restrictive, otherwise, the influencer may come off as unbelievable or in the worst-case scenario, they will refuse to work with you. 

What are the rules for TikTok marketing?

Every time you get an influencer to talk about your brand/company – no matter which platform you are using, the influencer should always highlight that it’s a partnership (a form of paid advertising) or such other term as is legally required from case to case, and country to country. For example, when using social media, all posts and content must be clearly marked as advertisements. Make sure the influencer complies with the FTC guidelines to avoid legal issues and in some countries even a fine.

Use Woomio to see data

Data is the key to success – or at least a step closer to success. It will help you to evaluate whether an influencer is the right match for your campaign. Without knowing about the influencer’s engaged audience, you might spend a lot of money on a campaign without getting anything out of it. Woomio’s feature, ‘Quantify’, gives you access to see the most important information when visiting a specific profile on TikTok. Data such as engagement rate, country demographics and age groups of the engaging audience will help you to find the right influencer for your next campaign. To learn more Book a demo or get Woomio for free. 

Summarising the steps you will have to look at for launching a TikTok influencer campaign: 

1. Understand the platform 

2. Set goals for your campaign 

3. Research influencers for your campaign

4. Give the influencer creative space 

5. Measure the campaign result

6. Make sure that your collaboration is FTC compliant 

7. Use other TikTok add formats 

The post How to Start Working With TikTok influencers appeared first on Woomio.

And just to give you a feeling of how much anti-influencing has said kaboom! in no time:

We checked the number of the hashtag #deinfluencing one day on TikTok. It was around 165 million.

Then we checked it again the day after.

Now, there was more than 170 million hashtags.

That’s insane in the membrane.

So, why has this new trend turned social media upside down?

Since we’re used to only hearing sales messages and ‘fairy tale’ stories when influencers talk about products and paid collabs, it’s deliberating – and much needed – to hear what de-influencers have on their mind:

The truth.

They’ve discovered the (viral) effect of giving consumers reviews rather than recommendations.

So, while influencer marketing is authentic storytelling, de-influencing is authentic storytelling 2.0. It’s more unfiltered and ‘raw.’

Overall, you’ll see that de-influencing happens in two ways:

#3: Nurture a feedback loop and a community

The last approach is right up our alley – and what we recommend in general to every company working with influencer marketing:

To build and nurture conversations and a strong community around your brand and product.

This approach has some similarities with the example from above; where the influencer engaged her followers and involved their ‘voices’ in the collab.

But in this case, the conversations should happen as part of the product development.

Ideally, before the product is launched.

The process can be an enclosed community where your influencers and their audience gather around, have conversations, and give feedback on your brand. 

It gives you the chance to dive into data or insights that, first and foremost, tell you what matters to them and, based on this, how you can make your product better.

Also, it strengthens the relationship and sense of community between you, your influencers, and the ones who are going to want to buy your product in the end: 

The followers.

And they’re more likely to do so if they feel like they’ve been a part of the process.

Finally, building a community will make you aware of the unanswered questions your customers might have.

And unanswered questions are barriers that make them hesitate to buy.

Before we let you go, we have a confession to make.

We actually didn’t make these three strategies for the occasion:

The post All You Need to Know About De-influencing – and How You Can Prevent the ‘SoMe Curse’ From Hitting Your Product appeared first on Woomio.

The issue of choosing Influencer

The crucial point with every Influencer Marketing campaign is to choose the right influencer. One who can add real value to your brand. But how can you choose the best fit for your brand? Especially among the continuously growing number of influential social media users?

Because of the growth of the influencer-dominated segment, it has become a highly desirable position to be in. Many young people look to the profession as a way to gain respect and of course, make money. Unfortunately, sometimes influencers may resort to unethical ways to gain followers. These fake influencers may have built up a following in the thousands or more. Sadly, the followers are made up of fake accounts or “bots”. It is important for every marketer to distinguish between vanity metrics and insightful data. Being a victim of a fraudulent influencer can be detrimental to your marketing campaign. It will cost you time and money that you will never get back. 

A valuable metric to pay attention to is the engagement rate of the influencer’s profile. It can provide a solid basis for the evaluation of the content creator’s audience activity.

What exactly is Engagement Rate anyway?

This is an important question, especially for businesses that are new to influencer marketing. An influencer’s engagement rate is a ratio representing the degree of commitment between an online audience and the creator’s content. A good engagement rate lets you know that the influencer is actively engaged with their followers. Also, that they have respect and interest in their posts and the represented brands. Often influencers have a large number of followers. However, if those followers are not engaged with the content creator, often the engagement rate suffers. Therefore, it is not just influencers with large followings that should be considered for marketing campaign partnerships.

Engagement rate is most often measured by the number of interactions and responses to a regular post. That includes likes, comments, reposts, shares, etc. When your content is reposted or shared, your potential customer base widens to include a more diverse potential audience. That can be one you may never have been able to reach. This is an effective way to drive traffic to your website, promote brand interest and recognition, and therefore, increase business success.

Therefore, engagement rate is one of the most important social media KPIs. KPIs mean key performance indicators that a brand should consider when choosing to work with an influencer.  

Why does Engagement Rate matter?

Vanity metrics, such as the number of followers, cannot guarantee that all of them will be personally connected to the content. In fact, as the graph below shows, vanity metrics can prove to be quite confusing and misleading.

If a profile has a high number of followers but a low engagement rate, consequently there is a greater chance of the content being ignored. When an influencer has an audience that is based on a specialized niche, the followers are more likely to be swayed or persuaded by what that influencers posts, shares, or comments about. These influencers, with fewer yet highly engaged followers, are known as micro- or nano-influencers.

Moreover, it is proven that people who actively engage with content are more likely to convert into paying customers. And, this is a marketer’s overall goal, right? 

A strong engagement rate, combined with other metrics such as audience fit and reach efficiency, can justify your marketing efforts with increased market performance and profit growth. But above all, only the performance of an influencer can guarantee higher campaign ROI. This is why your partnership with an influencer is a decision that requires careful consideration. 

With engaging campaigns, a brand can create real brand advocates. That can fill a missing marketing piece within your organizational strategy. The influencer is essential to promoting word-of-mouth brand recognition. Also, it will be able to spread a positive message about your brand and products. A successful influencer partnership can continue into the future. It can ultimately provide value and growth for each brand. 

How to calculate Influencer Engagement Rate?

(Total Engagements / # of followers) x 100

Average Engagement Rate of Instagram Influencers

Based on the graph, the more followers link to a profile, the less engaged the audience tends to be. This helps to explain why micro-and nano-influencers can be more profitable to business marketing campaigns than macro-influencers. It is all about the quality of the influencer’s audience. When an influencer is actively engaged in a niche market that aligns with your business strategy, their impact on their audience is what matters. Influencers with smaller numbers of followers tend to have more personal, engaged relationships with their fans. They appear more authentic and credible when promoting brands and products. 

Therefore, when choosing an influencer for your marketing campaign, consider metrics such as audience match, reach efficiency, and value alignment.

Takeaway

In summary, a huge follower base does not make an influencer worthy of a business partnership with your brand. Marketers must dig deeper in order to identify the right influencer to work with. They need to use engagement rate metrics and statistics. 

The engagement rate shows how likely an influencer will be to convert their audience into new potential business leads. This metric can give an in-depth look at the projected success of a campaign. 

The post What Is an Influencer Engagement Rate – And Why It Matters appeared first on Woomio.

Budgets for IM are growing, and firms are more likely to invest money and effort to keep up with the competition.

Influencer Marketing is a strategy designed for a new generation of consumers with new beliefs, opinions, and attitudes towards advertisements.

Practices and rules, effective for traditional advertising, are irrelevant within this field.  It is still a moderately new form of marketing, and marketers have not mastered its principles 100% yet.

Companies come upon some challenges, which can significantly harm the success of an influencer campaign.

According to researches, there are three main pain points connected to Influencer Marketing – finding the right influencer, how to form the price, and how to determine ROI.

1. Choosing the matching influencer for your marketing

Firstly, finding the right influencer is a complicated decision. Choosing the wrong ambassador for your brand might result in total failure. For instance, loss of money, time, and most importantly, harming the reputation of your brand.

Furthermore, an influencer must fit in with your brand and correspond to the values you share. Finding the right one in your niche among millions of influencers is a common problem. Their audience must match your target group. Even though an influencer has a wide range, it is completely pointless, if your ideal customer does not belong to it.

According to Mediakix, 67% of marketers consider this point the biggest challenge in Influencer Marketing.

Moreover, influencer metrics are also worth considering. A marketer cannot judge an influencer’s performance just by the followers’ count, for example.

Various data insight needs examination. Each depends on the campaign objectives. For example, consider audience demographics, reach efficiency and engagement rate. Simply put, these metrics combined together speak for influencers’ performance.

On the other hand, a recent trend and major concern for the whole industry are fake influencers with fake followers.

Moreover, just for a few dollars, everyone can increase the number of their profile followers, as well as likes and comments. Such influencer fraud has the power to destroy even the best campaign.

2. The challenge of pricing an influencer right

Secondly, marketers place pricing an influencer as one of the trickiest influencer marketing challenges.

Several factors affect the price of an influencer. For that reason, it is one of the most common influencer marketing challenges.

In fact, 86% of the participants in the research admit of not being aware of how influencers’ prices are calculated.

A content creator must receive a sum corresponding to the value they attribute to the company. Consequently, performance is a crucial point in price determination.

However, sometimes marketers even struggle with the evaluation of performance, which makes determining the price according to it hardly possible.

When setting the price, your campaign’s objective is crucial, consequently are the metrics as well. Moreover, exclusivity can impact pricing. For that reason, an influencer, who speaks out only for your brand, may require higher payment in comparison to one who works with your competitors as well.

Research reveals that 86% of the respondents admit of not being aware of how influencers’ prices and fees are calculated.

3. Measure ROI

Every type of marketing has to be evaluated and estimated as being successful or unprofitable. Because of that, it is important to determine the return of investment of a campaign.

The ROI is a ratio representing the actual value your company receives as a result of any effort invested.

Having in mind that IM is a new way of advertising, relying on traditional methods for calculating ROI cannot give stable results. Indeed, time and practice are needed, to completely comprehend and master this approach.

Anyway, different campaign goals require considering multiple KPIs, meaning that the foundation for ROI calculations is not stable

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