In our last blog article, we gave you a short and precise overview in terms of approaching influencers. In this article, we want to show key numbers which help tracking influencers on Instagram.
As we showed in our last article, using influencers for marketing campaigns on Instagram is a great way to promote your company, account, products or services on a very authentic way. In order to allocate your resources for marketing campaigns, it is recommendable to find out how each of your promoting brand ambassadors performs.
Social Media Marketing Key Numbers – tracking influencers on Instagram
1) Interaction rate
The Instagram API offers the option, to read out the number of followers, likes and comments of influencer’s Instagram accounts. With these numbers, one can calculate the interaction rate. Through this, you can see how successful your marketing campaign with the influencer was. Advertisers can use the interaction rate as an indicator for quality, too. One can say that a good campaign has an interaction rate of five to ten percent. If it is below this numbers, the influencer’s followers are not interested in the product or the influencer’s likes might be bought.
2) Followers and reach
The number of followers of an influencer gives advertisers also a feeling for the reach of the marketing campaign with the influencer. The concept of the campaign determines the way of approaching potential customers in the end. For example, advertisers could choose an influencer who talks to five million followers or decides to hire five influencers with one million followers each. The calculation basis for advertisers are mostly the ad impressions.
3) Hashtags as indicator for reach
You can also use hashtags for measuring the reach of your campaign. If you create a campaign hashtag and let the influencer use it, you can see the retransmission among Instagram users.
4) New followers for your brand account(s)
Gaining new followers for an existing brand is mostly not in the focus when it comes to influencer marketing on Instagram. But it should not be neglected. Additionally, to an uploaded picture, influencers could link your account for increasing your visibility. Through this, you could gain more followers. But the influencer’s post shouldn’t look like a sole sponsored post because your campaign would lose the authentic part and the influencer could lose his follower’s trust.
5) Engagement Rate
The engagement rate offers the possibility of tracking the activities of your audience in different networks as well as it can help comparing your performance with your competitors’ accounts. For influencer marketing on Instagram, you can use it, too. It is calculated on the basis of Likes and Comments (Engagements) of the individual accounts and is divided by the amount of the followers.
6) Share of Voice
To find out how you perform in comparison to your competitors, the spread of mentions in social media is a factor. You get to know how often your brand is mentioned or the brand of your competitors. The analysis over a period of time lets you estimate how successful your campaigns or the activity of other brands was.
Short reminder at the end: Make your goals SMART!
Tracking influencers on Instagram with key numbers is helpful for finding out how the performence is. But before you start, you should think about your goals regarding this kind of marketing campaign. As every good marketer or project manager knows: Making goals SMART helps defining and tracking the success. This word is an acronym and stands for
Goals have to be as precise as possible.
Goals have to be measurable, i.e. 20 sales in 3 days.
Goals should push but it is important that they are achievable.
Goals should have a realistic timeframe.
T time bound
Goals needs a specific end time.