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Engagement Metrics Benchmarking

Delivered February 24, 2020. Contributor: Megan B.

Goals

To understand what metrics experts recommend to evaluate the success of an influencer campaign on Instagram.

Early Findings

  • 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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