- 1. What does it mean to analyze influencers?
- 2. Overview and development
- 3. Advantages
- 4. Disadvantages
- 5. Relevance
- 6. Best practices
Table of contents
What does it mean to analyze influencers?
Influencer analysis is the evaluation of influencers based on quantitative and qualitative factors to verify they are a real influencer and to determine if they are a right fit for the brand and its goals. Examples of quantitative factors to evaluate are engagement ratio, follower growth rate, and target audience demographics.
Businesses should analyze influencers before and after working with them. Influencer marketing platforms have made the analysis process easier by creating helpful tools that evaluate influencers on various metrics that matter in influencer marketing. InfluencerDB is an example of an influencer marketing and management agency that can guide businesses in having successful campaigns.
From a qualitative perspective, brands should dig deep through an influencer's profile to get a better idea of their personality, values, and whether or not they have ever said something offensive. Reading the first 10 posts isn't enough for qualitative evaluation. The influencer will be associated with the brand, so it's important to ensure they are a good match.
Overview and development
Influencer analysis developed shortly after businesses began using influencers for promotion. Early on, influencers were judged by vanity social media metrics such as follower count and the number of likes they could obtain. But it didn't take long for businesses to begin taking analysis more seriously to find the best influencers based on their goals and company values.
Influencer marketing platforms were developed to meet the needs of businesses interested in connecting with quality influencers. The services an influencer marketing agency provides has expanded over the years to include an array of tools, analytics, and influencer networks.
- Reach the Right Audience: Assuming the brand takes a look at an influencer's audience, it will know who it's reaching. The majority of an influencer's followers may be women living in the United States. But if a company is speaking to a male demographic with a campaign, then that influencer may not be the best fit.
- Weed Out the Fake Influencers: Influencer analysis to choose which influencers to work with will bring to light which individuals are actually influencers. Brands don't want to mistake an individual account that has a lot of followers as an influencer because they won't get results from the campaign. It takes more than a high follower count for someone to be an influencer. They need to be trusted by their audience.
- Fake Influencers: Brands must be careful to not mistake a large account as an influencer because some people buy followers and likes to make their social profiles appear better than they really are. The problem with buying their audience and likes is the followers don't genuinely care about their opinions, meaning they have no influence. This is where an influencer management agency comes in hand. A good influencer management agency has an eye for spotting the genuine influencers to help prevent brands from losing money on fake influencers.
Knowing how to analyze influencers is essential for businesses that get into influencer marketing. Businesses should at least familiarize themselves with the basics, even if they plan on letting an influencer marketing or management agency take care of it. They need to understand the key indicators in order to understand how well a campaign performed.
- Analyze Follower Growth: Brands should analyze an influencer's follower growth before choosing to work with them for long-term partnerships. Sometimes influencers with a larger growth rate surpass the total number of followers after a few years compared to a competitor with more followers but a small growth rate. Use the exponential growth formula to estimate.
- Check Engagement Ratio: Another important key indicator to check is the engagement ratios, e.g. like-follower-ratio. An influencer shouldn't be below the social media platform's average engagement rate. This can vary widely among different social media sites, so always use the specific site's average engagement rate to determine which individuals are above average, indicating they may be an influencer. If the brand's primary goal is to increase ROI, they should typically prioritize influencers with the highest engagement rates even if their follower count is lower than another influencer.
- Target Audience Analysis: Brands looking to increase brand awareness should analyze an influencer's target audience to get an idea of how much and what type of reach they have. Where are their followers from? What is the gender ratio? What quality are their followers? These are all important questions to answer when analyzing the influencer's target audience. Brands can use an influencer marketing agency to conduct an accurate target audience analysis.