An ever-increasing number of companies are shifting greater and more significant budgets to influencer marketing. In pace with this rapid development, a data-driven approach is critical. In this mini blog post series, we explain why data is key to success.
3. Get insight into how many people actually see your posts (true reach!)
It is easy to think that the more followers an influencer has, the more people will see the profile posts. The truth is that the estimated or potential reach may not necessarily be even close to the true reach. Here’s an example: an influencer with 100,000 followers can have 10% true reach on their posts, which means 10,000 actual views. Another influencer with half as many followers may have a higher proportion of true reach, let’s say 80%, which means as many as 40,000 actual views. Using this data, which you can access with the right tools, you can more easily identify the influencers that reach the most people in the selected target group, regardless of the number of followers.
Data is a critical component to succeed with your influencer activation. Firstly, by using detailed target group data you can get help with finding profiles that you know will definitely reach your target group. On the one hand, you have the opportunity to identify accounts with high (and genuine!) commitment to and influence on the target group. With the help of data, you can also avoid accounts with fake followers – something that is becoming increasingly important as this phenomenon increases.
4. Evaluate your influencer activation correctly and get an overall picture of your investment
In order to succeed with influencer marketing, measurement and follow-up are the be-all and end-all – and this is where data comes into the picture. First and foremost, you should make sure that all the measurements are set up correctly from the start and that you have control over which KPIs are relevant to measure. Without this in place, it’s like wandering in the wilderness without either a map, compass, or final destination.
To get an accurate picture of your investment, you must take a step back and try to get an overall picture of the results. How has it affected other channels and how does your influencer marketing complement your other marketing activities? Perhaps organic traffic has increased, or the effect of your search advertising has improved – two common consequences of a thoughtful influencer marketing effort. In addition to analyzing online data, you can also use brand surveys to measure how factors such as brand awareness, perception, and purchase intention have been affected as a result of your influencer marketing.
In summary, in order to be able to evaluate your influencer marketing efforts in the best possible way, it is essential that you use all the data you have on hand instead of staring blindly at individual KPIs – only then can you get a holistic picture of your investment.
Did you miss the first part? Stay calm, you’ll find it here! To learn more about the topic, you can also download our guide below!
Kristian is co-founder & Head of Sales at Cure and he loves creating value for different businesses and finding out how they can get the best possible results with influencer marketing. When he’s not in the office, he loves football and you will probably find him somewhere close to a pitch watching football live, whether it be Allsvenskan or Div6.