Understanding the influencer engagement rate is crucial for your influencer campaign. Influencer Marketing is quickly becoming a preferred marketing strategy among businesses who wish to increase their online presence to achieve the highest return on investment. Where these businesses may have relied on digital ads, or posts on their social media pages, in the past, they are quickly realizing the benefits of having a quality influencer to drive increased website traffic and brand recognition.
Successful collaboration with the right influencers can offer access to a built-in audience of potential customers and will allow you to reach a variety of age and demographic groups that you may otherwise have been limited in reach.
The crucial point with every Influencer Marketing campaign is to choose the right influencer, one who can add real value to your brand. But how can you choose the best fit for your brand among the continuously growing number of influential social media users?
Because of the growth of the influencer-dominated segment, it has become a highly desirable position to be in, with many young people looking to the profession as a way to gain respect and of course, make money.
Unfortunately, sometimes influencers may resort to unethical ways to gain followers. These fake influencers may have built up a following in the thousands or more, but the followers are made up of fake accounts or “bots”.
It is important for every marketer to distinguish between vanity metrics and insightful data, as being a victim of a fraudulent influencer can be detrimental to your marketing campaign, costing you time and money that you will never get back. By studying the data that truly matters, such as engagement rate metrics, you will be able to select a quality influencer for your campaign in no time.
This is an important question to ask, especially if your business is fairly new to the concept of social media marketing. An influencer’s engagement rate is a ratio representing the degree of commitment between an online audience and the creator’s content. A good engagement rate lets you know that the influencer is actively engaged with their followers and that they have respect and interest in their posts and represented brands.
An influencer may have a large number of followers, however, if those followers are not engaged with the content creator and their message, often the engagement rate suffers. Therefore, it is not just influencers with large followings that should be considered for marketing campaign partnerships.
Engagement rate is most often measured by the number of interactions and responses to a regular post, including likes, comments, reposts, shares, etc.
When your content is reposted or shared, your potential customer base widens to include a more diverse potential audience, one that you may never have been able to effectively reach without the help of the influencer. This is an effective way to drive traffic to your website, promote brand interest and recognition, and therefore, increase business success.
Therefore, engagement rate is one of the most important social media KPIs (key performance indicators) that brands must consider when choosing to work with an influencer.
Since social media platforms aim at developing a connection with customers, the engagement rate can show how actively involved the target audience is.
Vanity metrics, such as the number of followers, cannot guarantee that all of them will be personally connected to the content and perceive the intended message. In fact, as the graph below shows, vanity metrics can prove to be quite confusing and misleading.
If a profile has a high number of followers but a low engagement rate, consequently there is a greater chance of the content being ignored. When an influencer has an audience that is based on a specialized niche, the followers are more likely to be swayed or persuaded by what that influencers posts, shares, or comments about. These influencers, with fewer yet highly engaged followers, are known as micro- or nano-influencers.
Moreover, it is proven that people who actively engage with content are more likely to convert into paying customers. And, this is a marketer’s overall goal, right?
A strong engagement rate, combined with other metrics such as audience fit and reach efficiency, can justify your marketing efforts with increased market performance and profit growth. But above all, only the performance of an influencer can guarantee higher campaign ROI, which is why your partnership with an influencer is a decision that requires careful consideration.
With engaging campaigns, a brand can create real brand advocates to fill a missing marketing piece within your organizational strategy. The influencer is essential to promoting word-of-mouth brand recognition and will be able to spread a positive message about your brand and products. A successful influencer partnership can continue into the future, and can ultimately provide value and growth for each brand.
As you can see from the graph, the more followers linked to a profile, the less engaged their audience tends to be. This helps to explain why micro- and nano-influencers can be more profitable to business marketing campaigns than the influencers with massive amounts of followers.
It is all about the quality of the influencer’s audience, and when an influencer is actively engaged in a niche market that aligns with your business strategy, their impact on their audience is what matters, regardless of the number of followers.
Influencers with smaller numbers of followers tend to have more personal, engaged relationships with their fans and appear more authentic and credible when promoting brands and products.
Therefore, when choosing an influencer for your marketing campaign, businesses must factor in metrics such as audience match, reach efficiency, and value alignment between the creator’s brand and the business’s brand strategy.
In summary, a high number of followers does not make a certain influencer profile worthy of a business marketing partnership with your brand. Marketers must dig deeper in order to identify the right influencer to work with, through engagement rate metrics and statistics.
The engagement rate shows how likely an influencer will be to convert their audience into new potential business leads. This metric can give an in-depth look at the projected success of a campaign since engaged users are more likely to convert to actual buying customers in the future.
If you struggle with finding the new influencer for your campaign, make sure to download our free E-book. It provides information about ways to evaluate an influencer, as well as much more insights into Influencer Marketing.