KPIs for selecting suitable influencers – glossary with explanations and formulas
Influencer marketing or social media marketing is becoming increasingly popular and should not be underestimated in the area of online marketing. In order to measure the success or failure of an influencer marketing campaign, you need key performance indicators (KPIs). In our article on measuring success after a campaign, we have already given you an impression of the most important KPIs for measuring a marketing campaign. In this article we will show you the KPIs that are important for you before starting a campaign and then when selecting suitable influencers.
Important KPIs for choosing the right influencers
Key performance indicators, abbreviated as KPIs, are important key metrics that reflect the performance of your company. They help you analyze your marketing campaigns, track progress, and enable you to achieve your marketing goals. On our influencer marketing platform Leadnow you get insight into the following KPIs to help you select suitable influencers: target group reach, engagement rate, story post reach, feed post reach, TKP reach, TKP impressions and the resulting fit Score. You can also see the offers from the influencers and book them directly if the influencer is brand fit. Below we explain the importance of the information before the campaign starts.
Offer
You will only receive offers for your campaign from suitable influencers who match your search criteria. We allow you to search for influencers by age, gender, country and location, as well as by category. This way you can specifically find the influencers that are right for your brand and get offers from them. We offer over 89 niche influencer categories. In addition to beauty, fashion, fitness and food influencers, you also have the option of more niche influencers such as: B. Garden, vegan, yoga, mom or family influencers and many more can be found.
What is the target group reach in influencer marketing?
As the word reach suggests, this value shows how many people can be reached with the shared content. However, since many influencers have so-called “dead followers” or fake followers, on Leadnow we calculate the target group reach minus the fake followers. This value corresponds to the estimated proportion of followers who exactly match the target group information of your campaign. Here we focus on geographical targeting and analyze the demographic and socio-demographic information, i.e. location, gender, age and interests of the people reached. This way you will know exactly how many real people there are among the followers who correspond to your target group.
Engagement rate and what does that mean?
The engagement rate is the ratio of comments and likes to the reach your influencer has. In influencer marketing, a good engagement rate is said to be between 1% and 5%. On Leadnow, the engagement rate includes all interactions with the post (likes, shares, comments, saves, answers, interactions). The number depends on the type of post and the engagement options your influencer has enabled for their audience.
Story post reach and feed post reach
How many people does an influencer really reach with a Stroyposts or a Feedposts? Thanks to our Facebook license, we know the correct reach of a story and feed post from your future brand ambassador. This gives you a real overview of how many people can currently be reached on average via your influencers' content pieces.
CPM impressions (all visits)
The thousand contact price impression is also about the price that you as a brand have to pay to reach 1000 people. However, the difference is that the person who saw the content can also be counted twice. This happens when someone liked the Brand Ambassador's content and watches it again. Accordingly, the impression could actually be higher than the actual number of followers of an influencer.
Our Fit Score for selecting your influencers
Using the KPIs mentioned above and your previously determined goals, we use the Leadnow Fit Score to show you which influencer best suits your marketing campaign. All elements such as the target group reach, the current reach of feed and story posts, the influencer's offer, the engagement rate and category information flow into this score. This score can be used to compare your potential brand ambassadors across all variables. The score helps you make decisions about selecting the right influencers.
Why is the number of followers no longer a useful KPI?
Calculating traffic, real reach and engagement are key these days. The number of followers only allows you to identify an influencer as such. Unfortunately, these days we can no longer see whether the desired brand ambassador may have bought fake followers or whether they were bought to him. Accordingly, Leadnow only trusts in the perfect fit score, calculated using data-driven and dynamic social media data.
Are you missing something?
Would you like to have more KPIs for selecting suitable influencers?
Please let us know what information you would like us to provide and send us an email to: info@leadnow-marketing.de
If you would like to read more about fake followers and transparency in influencer marketing, then take a look at our article “Transparency and security in influencer marketing”.
