When planning an influencer marketing campaign, it’s more important than ever that you’re paying attention to the right data to drive sales, not just likes. An influencer may have an extremely high follower count, but time has shown that ‘popular’ doesn’t always pay the bills.
Enter: The micro-influencer.
Micro-influencers have become increasingly valuable for brands looking to improve awareness and drive sales because their audiences tend to be more connected and active than accounts that simply have a high follower number.
At Tagger, we often get asked ‘which micro-influencers in your database drive the most sales?’ It’s a great question, but it’s also subjective to each brand. And while we keep all of our clients’ reporting data private, we’ve studied the numbers and can share are a few key things you can do to find influencers that will move the needle in a meaningful way.
Using our advanced insights on over 3.5M influencers, we came up with 3 main filters that you should be using in our Discovery tool. For this study, we decided to focus on Instagram, looking at influencers with 10k-150k followers.
3 Common data points of micro-influencers that drive sales:
1. 4% or higher engagement rate on an IG photo
Yes, engagement rate can vary by industry in terms of what’s good or bad, but if you’re trying to really convert people, you generally want a high engagement rate. If you’re looking to get the most bang for your buck, 4% is very solid.
Anyone below 4% may claim that their lower engagement rate is due to their higher follower numbers. And while it’s true there’s a natural correlation between large audience size and lower engagement rates, we’re trying to make sure your dollar goes as far as possible.
At the end of the day, increased sales are driven by connection, not views. It’s about the quality of the connection a post makes with viewers, not just how many people see the post in the first place.
2. 90% (or higher) Audience Authenticity Score
Tagger utilizes a variety of tools & algorithms such as suspiciously fast growth, comment monitoring, and more to determine true authenticity for any Instagram account. This is a hot topic in the industry, and rightfully so.
Again, it’s about using data to determine the quality of engagements, not just what the numbers are telling you on the surface. If you only think about engagement rate then you have no idea if those engagements are actually real or meaningful. Don’t get fooled by an influencer that has inflated either their following or engagements with their post.
So, if you care more about sales than fake engagements, you’ll want to know what this “Audience Authenticity Score” is. For more on how we calculate this, click here.
3. 85% or higher Audience Demographic Similarity
One of the easiest ways to ensure your product is marketed to the right people is to find influencers that reach a similar demographic as your own brand. This is not to be confused with the same people that already follow your brand, but rather the same type of people. For example, if your audience is 80% female and mainly between the ages of 21-34, then it will benefit you if the influencers you partner with have a similar audience makeup.
Want to know which influencer will drive sales for your brand? Click to contact us for a free demo and we’ll do a live search with you!