Engagement Metrics Benchmarking
To understand what metrics experts recommend to evaluate the success of an influencer campaign on Instagram.
- One article advises companies to track: engagement per follower, follower growth, comments received, reach, most engaged hashtags, referral traffic and Stories metrics (if applicable).
- Specific to brands or campaigns, other metrics to consider are click-through rate, hashtag growth rate and time/day post engagement.
- Databox states the ten most important KPIs for influence campaigns are: ROI, conversions, CPC, CTR, referral growth, list growth, influencer audience loyalty, channel authority, engagement and reach.
- One study found that for every $1 put into a successful influencer campaign, brands should expect around $5.78 back.
- However, around 25% of campaigns lose money or break even.
- Benchmarks can depend hugely on the influencer's follower size, the money invested in the campaign, the original popularity of the brand and more. Engagement can depend greatly on the niche/industry.
- Micro-influencers, who have higher engagement rates for their smaller followings, are growing in popularity among brands.
- Conversions/sales are considered the most important metric in 2020.
- Earned media value is also considered a good way to measure ROI.
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