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Influencer Marketing Metrics

This guide will walk you through essential metrics for your Influencer Marketing Campaigns on Instagram and how to track them. πŸ‘©β€πŸ«

Structure


  1. The Metrics
  1. How to track them

The Metrics

Below, you can find essential metrics to look at when working on a new influencer campaign on Instagram.
For a better understanding, let's split the metrics by placement:
  • Instagram Feed
  • Instagram Stories
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Instagram Feed

Reach - the number of unique views on a post
Ex. - if 1000 different (individual) users see a piece of content on Feed β†’ Reach = 1000
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Impressions - the total number of times a post is seen
Ex. - if a post is seen 1200 times on Instagram β†’ Impressions = 1200
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πŸ’‘ The total no. of Impressions is always higher than the total no. of Reached accounts
Ex. - A story/post was displayed 1200 times to users on Instagram, out of which 1000 users are unique β†’ Impressions = 1200 and Reach = 1000
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Likes - Comments - both of these are straightforward metrics
πŸ’‘ When working with Instagram influencers, it is vital to ensure the engagement is authentic and not enhanced by using bots, engagement loops, or follow per follow loops.
πŸ’‘πŸ’‘ Check the last 6 Feed posts of an Influencer. If the captions are very short and most of the comments are either emoji or very short spammy sentences - this is usually a sign of fake engagement.
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Post Saves
You can see how many users saved a post on Instagram. This is not a crucial metric, but it can show how interested users are in your product. They might convert at a later date.
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BONUS TIP
Opt for a Feed Campaign if you are looking for long-term Brand Awareness and photo content for your marketing channels. Depending on the type of brand you are running, getting content from influencers is a great way to cover your marketing channels and materials.
Plus, this content is a precious asset for Facebook Ads or Instagram Ads. More on this subject, in this guide.
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Instagram Stories

Reach - the number of unique views on a story
Ex. - if 1000 different (unique) users see a story β†’ Reach = 1000
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Impressions - the total number of times a post is seen
Ex. - if a story is seen on a screen 1200 times β†’ Impressions = 1200
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Link Clicks - How many times users clicked on a link sticker from Stories
πŸ’‘ Link Stickers are available for brands and creators with less than 10.000 followers too; it is not necessary to have a minimum amount of followers for this feature
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Cost-per-Click (CPC)
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πŸ’‘ Compare this data from multiple influencers and correlate it with the CPM and the Conversion Rate to understand which influencer and which audience is performing better for your brand.
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Cost per 1000 Impressions (CPM)
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πŸ’‘ Impressions - the average number of Impressions from the last 3 Stories is the most relevant here. Try to avoid dividing by impressions just from one or old stories, as it might not be relevant. What you need is new data. πŸ“ˆ
πŸ’‘πŸ’‘ Get this data from multiple influencers alongside the CPC. Compare them to each other and better understand which influencer (and which audience) is performing better.
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Conversions - How many sales do you generate with this campaign
Conversion is defined as any desired action taken by a user: download, sale, booking or more, but for this example, we focus on sales as a conversion.
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We strongly recommend tracking this via DISCOUNT CODE (point 2 in this article)
Track conversions alongside CPC and CPM and understand which influencer is performing better.
πŸ’‘ For each influencer or campaign, create a unique discount code and provide it to them.
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Engagement Rate - the engagement rate shows how engaged an influencer is with his audience.
There are multiple ways to calculate this metric, but at Social Cat, we use this one below:
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Please see below the Engagement Rate Benchmarks for 2021.
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Source - RivalIQ
πŸ’‘Β Our software automatically calculates the Engagement rates for the influencers that are looking to work with you via Social Cat on an ongoing basis
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Audience Growth
Growing your Social Media presence is essential as it will pay dividends in the long runβ€”more on that in another guide.
While there is no specific method to measure audience growth, you can have a good idea of this metric when tapping into your Insights on Instagram:
πŸ’‘ Your Instagram Profile β†’ Tap on the three lines - up right corner - Insights - Your Audience
You can filter this data by a specific date when a campaign went live, let's say. Then, when you promote to the right audience, you should see a spike in the number of followers, depending on how many followers the influencer has.
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How to track the metrics for your campaign

Now that we know more about the metrics, we need to understand how we track them. By having a tracking system in place, we can better understand which influencers and audiences perform better.
We tested different tracking of Influencer Campaigns, but we recommend tracking via discount codes as this is the easiest and the most accurate one.
Tracking via discount code
Tracking via discount code offers two significant advantages:
  • Attribute conversions to a specific Influencer or Campaign
  • Provides an extra incentive for an audience to tap into your product
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Platforms like Shopify, Etsy, or payment providers like Stripe or Square provide this feature to their customers, making it easy to set up.
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