In the fourth part of our influencer marketing glossary, we’re going to explore technical terms from M – O, such as Micro-Influencer, Media Value per Post and Outgoing Mentions.
Why an influencer marketing glossary? As the field of influencer marketing develops, agreeing on critical terms and vocabulary will help you and your team become a focused and efficient influencer marketing campaign development machine.
Brush up on our A-L vocabulary here:
An influencer marketplace is an open internet platform where brands can search for potential collaborators and influencers can promote themselves.
Most influencer marketplaces are free for registration to maximize their users. However, the effectiveness of an influencer marketplace is also limited by its number of users.
Since brands can only search for the influencers listed on that particular marketplace, brands can miss out on best-in-class options that aren’t yet available. Additionally, marketers should also analyze the influencers’ true quality on a separate platform as these data are not provided by most marketplaces.
In influencer marketing, social influencers are usually categorized by how many followers they have. According to InfluencerDB’s Influencer Categorization Model (below), micro-influencers have more than 10k followers but fewer than 100k followers:
InfluencerDB’s Influencer Categorization Model
But why should brands work with micro-influencers? Is it true that the more followers a social influencer has, the better quality his or her profile is? This analysis shows that the most important factor to evaluate an influencer’s profile is not only the number of followers but also the audience quality and engagement.
The right micro-influencers can maximize the effectiveness of influencer marketing campaigns, by driving high engagement. But an effective micro-influencer strategy must be backed by a precise understanding of the influencer’s audience, since the reach of the campaign will be smaller.
To evaluate micro-influencers using the “Find Influencers” feature on InfluencerDB, you can create and log-in to a free account on the platform.
Metrics (Social Media)
TeachTarget defines social media metrics as the use of data to gauge the impact of social media activity on a company’s revenue. In influencer marketing, social media metrics are usually understood as the criteria to evaluate the performance of a social media profile.
Some common social media metrics are followers, posts, likes, interactions and traffic volumes. Most of the common social media metrics can be tracked by using professional influencer marketing or influencer relationship management platforms. These metrics are essential factors in order to evaluate and compare potential influencers.
The InfluencerDB platform combines these metrics to create a more meaningful index, showing users the direct connection between social media performance and business goals (e.g. Media Value, Like-Follower Ratio, Follower Growth Rate, etc.). These quantitative factors should help you to figure out how much to pay an influencer for a partnership, and, eventually, the ROI of your influencer marketing campaign.
Check out our webinar on how to calculate the right price to pay for social influencers.
Media Value per Post (MVP)
The media value per post can be thought of as the equivalent advertising value for a given piece of content. The MVP calculates the cost of an Instagram ad that has the same level of engagement and reach (using a CPM of approximately $5, which is Instagram’s minimum bid). The following graph illustrates German fashion blogger Leonnie Hanne’s (formerly known as Ohhcouture) Instagram media metrics, and especially the Media Value per Post.
Leonie Hanne’s media metrics © InfluencerDB
This is one of the unique influencer marketing metrics of InfluencerDB that can be used by free users. The Media Value per Post is also the most direct metric to calculate influencer marketing ROI, just as we did in the following article:
A feature of influencer relationship management platforms that helps brands to monitor their social media accounts as well as influencers’ accounts.
As an influencer marketing and management platform, InfluencerDB also offers monitoring features. Users can not only track their Instagram performance but also get information about their brand hashtags, such as who is using the hashtags and which of these users are influencers.
Engaged Influencers display © InfluencerDB
An influencer network is a collection of social influencers whom you are currently considering as potential partners or whom are already partners for your influencer marketing campaign. The influencers in your network may have similar profiles, or may achieve varied brand goals.
Influencer marketing in B2C companies will follow trends – just as in any other type of advertising – so it’s necessary for brands to keep updating their influencer networks, get real-time data of their performance, add in new faces and remove low brand-fit influencers.
As a premium feature, recently InfluencerDB completely overhauled and enhanced the influencer network on the platform. Check out this article for more information.
Niche (Influencer Marketing)
A small industry or industry segment that social influencers belong to and have influence over their audience.
Influencer marketing experts agree that brands should focus on hiring influencers within their niche industry, because most social influencers usually will try to build their profile and content a specific topic, such as beauty, fashion, sport, travel, etc. Focusing on niche market guarantees that the influencer’s major audience is similar to your target audience. As a result, your sponsored content will also have higher chance to be delivered to the right people.
As an image-based social media, most influencers on Instagram are building their content based on the following niches: beauty, fashion, food, lifestyle, sports and fitness, and travel. Brands working in these industries have huge potential to find the perfect-fit influencers and implement a successful influencer marketing strategy.
Common influencer marketing niche © InfluencerDB
Real followers who are active on social media and regularly interact with influencer’s content (e.g. like, comment, share).
The number of organic followers affects the success of an influencer’s profile. In order to find the perfect-fit partners and avoid fake influencers, brands should be able to separate organic followers from purchased followers by looking at the daily follower changes, like-follower ratio or the quality of comments.
Organic followers vs. Purchased followers
Social media accounts mentioned in Instagram content.
Influencer marketing experts usually utilize outgoing mentions as a useful tool for both influencer finding and influencer analysis. By tracking the outgoing mentions of a potential influencer, brands can get an overview of his or her connections, including other influencers with the similar profiles or those posting in the same market niche. Furthermore, outgoing mentions also show previous collaboration (if any) between that influencer and other brands, helping you to research about the influencer marketing campaign and strategy of your competitors.
Outgoing Mentions display © InfluencerDB
The Harvard Business Review calls owned media anything under companies’ direct control such as websites, newsletters, catalogs, and blogs.
Marketing experts consider social media as both owned and earned media. Implementing influencer marketing on social media will affect both of these areas. Your audience’s interaction with influencer’s sponsored content will enhance your brand’s earned media value. If the audience follows the content to your brand’s social media account, it will enhance the owned media value as well.
(End of Part 4)