Why Data is Relevant For Your Return on Invest

Bang for your buck - why data is relevant for your return on invest

If you are having thoughts about adding influencer marketing to your media mix, or have just recently started exploring it, you might be wondering what data are important to look at before contracting an influencer. If you are stuck with blindly looking at their number of followers, you are not alone. But let us tell you why you shouldn’t. 

One general assumption within influencer marketing is ”the bigger the following, the better”. That if you invest in an influencer with half a million followers you will also reach half a million people. Which, in reality, is far from the truth. Among other relevant data we recommend that you look at the following three factors as well to get a better understanding of what you actually will be investing in when it comes to an influencer’s following.

Region match How many of the influencer’s followers are relevant for your market?
If your campaign is based in a specific country you would want know how many are actually living there. A big Spanish following is probably not something you want to invest in if your service/product is only available in the US.

Ghost followers How many of the influencer’s followers are actually real people?
In the past, when a big following was all that it took to attract collaborations, it became  very common to buy followers. Luckily, the industry has matured and become way more complex since then. But even though the vast majority doesn’t buy followers today, some still do. So make sure you are not paying for an influencer with a high percentage of ghost followers.

Reach How many of the influencer’s followers do you really reach?
As stated above, half a million followers isn’t equal with you reaching half a million people. Two influencers with the same following could have a completely different reach rate (how many people they reach with their publication) – something that should also be taken into account when placing your investment. 

Say for example that you are planning to run a campaign based in the UK, where you will be working with an influencer that has 100 000 followers on Instagram. However, when taking a closer look at these followers you see that only 33% of them are based in your specific market and that 12% are not even real people, but ghost followers. In addition to that, this influencer has an average post reach of 39% and a story reach of 7%.  

That being said, this type of data is crucial to take into consideration and have a solid understanding of when evaluating if the influencer is worth investing your money in - or if it would just be money down the drain. You can (and should!) always ask the influencer for some more in-depth statistics when planning to onboard them to a campaign of yours.

Because, in contrary to the number of followers, the majority of data you should be reviewing are not visible by just looking at an account. Some data are not even visible in the influencer’s own insights and you would have to buy separate services to access such statistics. BUT, you should not neglect the data just because it’s difficult to access. Because as we said - they are of great significance for your return on investment. Quality over quantity!

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