This New System Helps Measure The Performance Of Influencers & Adds Value To Your Campaigns
A good thing about problem-solving as part of your work profile, especially if you are working on the brand/branding side, is that you start to look at solutions that are easily explainable. Going through the IG feed one night, on a colleague’s profile, I found a quote from IKEA’s founder, which sort of sums up the genius of the man behind the company — “To design a desk which may cost $1,000 is easy for a furniture designer but to design a functional and good desk which shall cost only $50 can only be done by the very best.”
Now, before you mistake my drawing parallel to Ingvar’s quote and my eventual solution to a very well recognized issue as some sort of genius, let me say this, that is absolutely not the case. The following is only learning from countless times we have worked with influencers.
The issue is that of how to really measure the performance of the influencer’s posts? While some measures do exist, like impressions and reach, etc. We thought to offer something new in the place of this. Nothing that will replace the existing values, however, will maybe provide a system that works for everyone.
If you have been reading with bated breath, don’t be surprised if you have seen this or a version of this solution somewhere else, with everything holy in mind, let me tell you, we came up with the following all on our own.
Here it is. Instead of aiming for ‘reach’ and ‘impressions’, we started by breaking down the engagement into its various components of likes, shares, comments, video views, etc. Then we assigned a value to each of these units. So, for example;
A ‘like’ was worth 1 point
A comment worth 5 points
A Share worth 10 points,
A Video view worth 20 points
Link back or follow back at 40 points.
We also went a step further, and we assigned a value for a story at 50 points, static post at 60 points, and video post at 75 points. Now, suppose we are working with 5 influencers, who are in {while I don’t like the term} Category B. Each of these influencers is then given the target of achieving say 100,000 points. In addition to that, we also told them that 10% of points should come from comments, 10% from shares, and at least 1% from posts. Now, this did two things. First, it made sure we had some control over the outcome, other than the promise of just the X number of posts. Secondly, and more importantly, it offered a unified system across influencers who are in a similar category. One issue that did prop up was not every influencer was sold on the idea. It was easy for them to close for total delivery and not worry about anything else, however, after many negotiations, explaining this is a great way to gauge value, and gamifying the experience by touting it as a competition among the other influencers, some, not all, got behind the plan. And it worked. We got greater value from each post; we still counted impressions and reach, but the focus was given to more engagement with distribution across the engagement components.
So yeah, that’s it. If you like what you read, do give it a try. Maybe it will work better than how it does right now.
Note From LBB:
Part of our philosophy at LBB is to offer workable solutions natively with content marketing. If you have a business problem that needs to be solved and you want to reach out to the most exciting audiences across the country, do fill in the form here, and we will get back to you.
