In our second Influencer Marketing Webinar, we discussed how to analyze influencers with InfluencerDB CEO and influencer marketing expert Robert Levenhagen. Here’s our recap in case you missed it!
To analyze influencers properly, start off with the media metrics. The media metrics of an influencer’s channel provide an initial overview of the influencer’s relevant KPIs. The media metrics are accessible with the free license of InfluencerDB!
Follower Numbers and Follower Growth
A channel with extensive growth, for example 15% of growth each month, will quintuple per year. So an influencer with currently 300k followers and a growth of 10% will be larger in a year than a channel with currently 750k followers without any growth.
Thus, growth is an essential factor, especially for long-term cooperations, like testimonials and brand ambassadors.
Like Follower Ratio
To analyze influencers regarding their engagement, focus on the Like Follower Ratio, which is the number of likes in proportion to the number of followers. Keep in mind that the Like Follower Ratio can be altered artificially! Just like followers, likes can be purchased easily.
Nonetheless, the LFR is a good indicator to give you a feeling if there is a general interest in the influencer. A LFR of 0.5% should sound the alarm, as there is obviously no interest in the channel and the impact of the influencer will be rather low.
Note that the LFR strongly depends on the target group! YouTuber, for example, reach younger users which usually give likes more willingly than older, more passive users. This, in turn, does not automatically mean that this user is invaluable! Passive users also consume content, but are more selective with their likes. Nonetheless, recommendations of influencers are relevant to them.
Media Value per Post
The media value per post, or equivalent advertising value, indicates how much you would have to invest in Instagram advertising to create the same amount of reach and engagement as the users creates organically.
Note that the media value is not a pricing recommendation! Naturally, not all of the influencer’s media value is relevant for you brand.
Earned Media Value
The earned media value states how frequently an influencer or brand is mentioned by other channels. It can be an indicator for the virality potential of a channel and an influencer’s credibility within the influencer sector.
Target Group Analysis
The target group analysis is the heart of our influencer marketing software and one of the most valuable features. It is accessible with a premium license. For a sneak peak, visit our demo account!
The target group analysis is split up into quality grade, quality distribution, gender, and countries. To learn more about the target group analysis, read our Audience Quality blog post.
The quality grade is absolutely essential for a cooperation focused on reach rather than content. To be able to evaluate the value of an influencer’s audience prior to a cooperation, an audience quality analysis is key!
Does the influencer have active followers or does he reach rather inactive users? How many channels does the audience follow? Can it even consume the influencer’s content or will the content get lost on the shuffle?
We strongly advise against working with influencers with an audience quality worse than B-. Don’t expect a great outcome when working with influencers with a rather low audience quality! Additionally, the audience quality is one of several factors affecting the pricing of an influencer.
When you analyze influencers, don’t forget to have a look at the influencer’s outgoing mentions which display the brand environment of an influencer.
Does the influencer surround himself or herself with prestigious or rather low-quality brands?
The outgoing mentions can also be used perfectly for competition analysis. To evaluate the credibility of the influencer, it might be crucial for you to know of the influencer recently worked with a competitor of yours.
This is rather essential for products like smartphones, cars, and skincare. We usually only use one smartphone, drive one car, and do not change our skincare products each week.
For fashion and makeup products, it is the other way around: Influencers which already work with high-class brands like Chanel and Dolce & Gabbana can change the awareness of your brand by vaulting it into a luxurious brand environment.
The posts of an influencer and their performance are an indicator of how well sponsored postings perform in contrast to regular postings. Thus, you can evaluate the post-performance of an influencer prior to a campaign. As in the example below, where you can see some of Leonie Hanne’s (formerly known as Ohhcouture) daily postings.
On a qualitative level, the posts show you how the influencer designs sponsored posts. Does the influencer focus on the product or does he or she integrate the product rather subtle into the background?
Depending on what you aim for, a very subtle integration might be unfavorable as the followers might not even take notice of the product. In this case, such a posting can be supported by Instagram Stories or with an additional detail shot in Instagram Galleries.
If you want be certain that the follower growth of an influencer is organic, have a look at the follower changes. Organic follower growth will be mirrored by a constant growth, while strong upwards and downwards spikes can be a sing for fake followers.
Apart from the followers, examine the follows as well. These will highlight whether an influencer engages in follow-for-follow abuse to accelerate their follower growth.
Brand Fit & Authenticity
When you analyze influencers, don’t stop after the quantitative factors. Examine qualitative factors as well!
To evaluate if an influencer is the right choice for a cooperation, the brand fit should be kept in mind.
Having a look at the influencers content will help deciding whether the influencer and his or her imagery can promote your brand in a credible and authentic way.