Influencer marketing is a hot buzzword in the digital marketing industry. It’s also a great way to promote your brand and increase sales or awareness. However, it can be challenging to find the right influencers for your own business. This article shows you how to discover affordable influencers who can bring big scale to your business goals.
With the growth of influencer marketing and brands wanting to work with influencers, it can be challenging to find the right big scaling influencers. Before you go on the hunt, you should know that influencers differentiate from each other. In many cases, marketers find themselves in a bidding war with other brands for the attention of influencers who may or may not have the reach they need to make their advertising dollars go the distance. Getting that attention can turn out as a very difficult and time-consuming task, just as much as deciding which influencers to reach out to.
The first thing that probably pops up in your mind might be the reach efficiency rate, which is an essential factor to look at but not the only criteria you should pay attention to. While it is one of the leading indicators, how many unique people will be reached through the influencer, are there more to consider. We analysed over 3 M. influencers and over 100 M. posts and stories to investigate where to pay attention to identify top-performing influencers.
Besides the engagement rate, you should also consider the influencer’s audience homogeneity. That means the more similar the followers are, the higher the reach efficiency will be as similarities amongst followers would count geographic data, gender, age groups, and interests. If this follower data matches your target audience, you are a big step closer to finding your top-performing influencer.
Another aspect to take a look at is the highly engaged audience of an influencer. That indicates that the more engaged the audience is, the higher the reach efficiency tends to be. If an influencer has a highly engaged audience, the algorithm will favour their content and show it more frequently to people with the same interests. Therefore, the quality of the content counts as well. Thus they will receive a higher reach, and your campaign will obtain the attention you were looking for.
Don’t forget about their post frequency; this has a more significant impact than you might think! If an influencer is overproducing content, their audience is most likely to lose interest. It showed that an influencer’s reach drops when they post 1-2 posts per day. The same applies to their stories. The reach drops 5-10% with each additional story post. These are some surprising and important facts to keep in mind if you want high engagement for your product. If an influencer is posting too much, will your paid content drown in all those posts, and you won’t get the reach you were hoping for. Hence the motto – less is more!
The last factor we found out is about rare species of influencers. Those are considered to be on television, podcasts, and other social media platforms. During that period, they will show a temporary uplift in their reach on their social media platforms. It is beneficial to be informed about which influencer will soon perform on tv or podcasts.
Being aware of the above-listed factors will help you find the right influencers that will help scale your business and promote the product to your target audience. To get the most out of your campaign and partnership with influencers, you want your target group to overlap with the influencer’s audience. That way, you make sure that your product is seen by the people who are most likely to be interested.
We can argue that the engagement rate plays a crucial role in identifying top-performing influencers. However, there are more factors to consider if you want an influencer to bring big scale. You will have to pay attention to the influencer’s audience homogeneity, their highly engaged audience, post frequency, and when or if they’ll be rare species of influencers. Considering these factors, you’ll find the perfect matches in no time at all and make sure that you don’t waste your money!