New metrics for measuring influencer marketing
A new local study has redefined exactly how social and influencer marketing should be done. Though Facebook might offer the greatest reach, Instagram offers better engagement. However, if you’re wanting to promote an event, Twitter is your best bet. Surprisingly, those with the biggest budgets don’t always get the best return on investment and brands with the most social followers aren’t necessarily getting bang for their buck.
Facebook, by far the largest social network, may dominate the consumer goods market, but the fact that Instagram has so many more influencers relative to its size means that brands get a better return on investment from the latter.
The research revealed that fans and followers aren’t everything and that engagement doesn’t equate to influence. In fact, some of the most effective influencers are ordinary people with relatively small followings.
The study, #OnlyConnect2018 – The Power of Brand Influencers – was conducted on the social audiences of 50 SA brands operating in nine different categories on Facebook, Instagram and Twitter and analyses the interactions and relationships these brands enjoy with their social audiences. The research, conducted by Arthur Goldstuck’s World Wide Worx together with smart marketing technology company Continuon, allows brands to measure the quality of their social media communities.
Using Continuon’s home-grown technology, which builds algorithms to analyse social networks and data, the research involved studying more than 100m data points from 5.25m unique engagers and 355,000 unique influencers. The research allows brands to identify real consumers in a brand’s community who can drive messages for the brand regardless of the size of their following or network.
The findings of this research, said Goldstuck, would upset traditional notions that marketers and brands have about social media, including how to use it and how to measure returns.
Speaking at a Heavy Chef event in Johannesburg to launch the study, he said the research allows brands to identify real consumers in a brand’s community who can drive messages for the brand regardless of the size of their following or network.
“We’ve learnt that the real influencers, rather than supposed celebrity influencers, can be harnessed and turned into advocates for brands. We’ve also learnt that only a small percentage of engagers are actually influencers. In the beverage category, for instance, which has the highest proportion of engagers, only a very small percentage are actually influencers. So, despite the fact that this category has massive engagement, brands are not getting much return on investment.”