Influencer analytics can help you better navigate your influencer marketing campaigns and efforts to produce impressive results.
Statistics show that the most common measure for the success of influencer marketing campaigns is the number of views, reach, and impressions, and you can better assess these metrics through influencer analytics.
So, what is influencer analytics, and what should you know about it?
What is Influencer Analytics?
Influencer analytics refers to a set of tools and methodologies that provide you with valuable insights into the performance and impact of influencer marketing campaigns. These analytics delve into various metrics, such as engagement rates, follower demographics, and content reach, offering a comprehensive understanding of how influencers impact your target audience.
By using influencer analytics, you can measure the effectiveness of your content, identify top-performing influencers, and track the overall success of your influencer marketing campaigns. This data-driven approach enables you to optimize your marketing strategies, refine content based on your target audience’s preferences, and ensure a more impactful and efficient collaboration with influencers.
Why is Influencer Analytics Important?
Without considering influencer analytics, no brand can succeed in its influencer marketing campaigns, strategies, and activities. Influencer analytics is crucial for the following reasons:
Deciding on the influencers to collaborate with
Prior to kicking off an influencer collaboration, it is crucial for brands and marketers to vet potential influencers carefully. You may ask, “How do I get influencer insights?” You can check an influencer’s content performance and the result of their previous collaborations through influencer analytics.
You must consider several key performance indicators when vetting influencers. The most common KPIs include engagement rate, follower count, estimated media value, and monthly content posting. Among these KPIs, engagement rate is important for you to distinguish authentic influencers from those with merely bot traffic.
What are the statistics of influencers? Influencer analytics tools allow you to access the data and metrics of many, if not all, influencers.
Evaluating your campaign’s performance
Every marketing campaign yields different results, and to increase the chances of a successful campaign, you must evaluate your campaign’s performance. The best way to do so is through influencer analytics, as it gives you access to significant data and insights, showing you the performance of the influencers you collaborate with and whether or not your campaign is getting positive results.
Through these insights, you will drive your campaign into the right path, create better strategies to hit your campaign’s goals and objectives, and help you decide on the best influencer for your brand.
Identifying the best and top-performing influencers enables you to foster long-term relationships while giving your brand a bang for the buck.
Understanding your influencer’s audience insights
When embarking on influencer marketing, you must understand the audience demographics of the influencers you will be working with. Doing so helps you better tailor your campaigns and activities to resonate with the audience.
Influencer analytics provides comprehensive insights into the gender, age group, and location of your influencers’ audience or followers. These insights will help you decide on the suitable influencer to collaborate with and how you can craft content to strike a chord with their audience.
Influencer analytics can reveal critical demographic information about the audience engaging with the content, helping you create more targeted and relevant materials and content.
Optimizing the content for your campaign
Another significant role influencer analytics plays is in optimizing your influencer content. These analytics offer a detailed understanding of the performance metrics associated with influencer-generated content.
You can identify which content resonates most with the target audience by analyzing engagement data such as likes, comments, shares, and click-through rates. This information enables a data-driven approach to content optimization, identifying successful themes, formats, and messaging strategies.
Measuring your ROI
Companies invest a significant amount of money in influencer marketing. Statistics show that over 57% of businesses splurge more than $10000 on influencer marketing every year, 25% spend over $50000, and 11% spend a whopping $500,000!
With this huge investment, it is vital to measure the results’ business impacts. Regardless of how much you spend on influencer marketing, you must assess your ROI to see whether you are gaining or losing, and the easiest way to do this is to access your influencer marketing analytics.
What Are The Types of Influencer Marketing Analytics and KPIs?
We can identify various sub-categories under influencer analytics, and they are as follows:
Most relevant KPIs: Estimated Value, Estimated Reach, and Engagement
Content analytics is influencer analytics that considers the performance of the content published by different influencers. Engagement rates from likes, shares, and comments provide insights on effective content types and formats, giving you the upper hand for your campaigns.
Tools for influencer analytics by Upfluence allow you to peek into significant data on the content analytics of the influencer you want to work with.
Most relevant KPIs: Audience Quality Score, Median Age, Audience Status, Top Gender and Country
Audience analytics deals with an influencer’s followers’ behavior, preferences, and demographics. By looking into the audience insights, you can gain a comprehensive view and understanding of the people engaging with an influencer and see if they are the right audience for your brand. An influencer analytics tool is incomplete if it can’t give you access to the data necessary for your campaign to reach the right people.
Most relevant KPIs: Conversion Rate, Engagement Rate, Number of Reach
Campaign analytics allow you to evaluate and measure the success of your influencer collaborations with regard to your campaign goals. Metrics, such as click-through rates and ROI, allow you to see the progress of your campaign or the lack thereof.
This type of analytics involves keeping track of the influencers you work with, the top-performing content, and your campaign’s overall results.
Most relevant KPIs: Engagement Rate, Creator Collaboration, Potential Audience Size, and Number of Posts
The competitor analytical approach involves keeping track of your competitors’ collaborations with different influencers. You can fine-tune your approaches and strategies to earn an edge against your competitors by understanding their strategies and campaign performance.
Most influencer analytics tools provide you with the data you need on your competitors, so you can benchmark on this data to improve your effectiveness.
Most relevant KPIs: Return on Investment, Conversion Rate, Number of Conversions
Tracking your conversion rate and status lets you measure your audience’s tangible actions after engaging with the influencer content. This involves conversions like sign-ups, purchases, downloads, and website visits — all are essential to the impact of your marketing goals.
One excellent way of tracking conversions is by giving influencers specific affiliate links or discount codes, so you can easily identify to which influencers you can attribute the conversions.
What Are Examples of Influencer Analytics Tools?
You can find a wide range of influencer analytics tools on the internet today. Not all tools have the same features, but most include the major things you need to steer your influencer marketing efforts. To help you narrow down your choices, here are some of the widely-used influencer analytics tools today:
Pricing: $99/month for annual billing; $120/month for monthly billing
Modash is an influencer analytics and marketing software you can use to search and filter influencers based on engagement rate, bio keywords, follower count, hashtags, language, and profile. Modash crawls public Instagram, YouTube, and TikTok accounts to extract data from creators with over a thousand followers.
The tool enables you to analyze profiles through metrics, such as fake followers, audience location and languages, sponsored or paid post performance, engagement rates, audience age and gender, and more.
You can read more about this tool in our Modash review.
Pricing: Revealed upon request
Grin influencer analytics tool provides you with all-inclusive features tailored for brands and businesses looking to streamline influencer insights. The tool stands out among others because of its ability to merge with an eCommerce platform.
The tool’s robust analytics capabilities give you access to real-time influencer performance and campaign effectiveness, further increasing your chances of a successful campaign. Additionally, the tool boasts impressive audience engagement and ROI tracking, ensuring your efforts are fruitful, profitable, and impactful.
Grin’s key features are audience insights, influencer search and discovery, and engagement metrics.
Pricing: Revealed upon request
Upfluence is a full-service influencer platform loaded with features for influencer analysis, discovery, and management. The platform provides you with access to metrics on multiple platforms, including Instagram, TikTok, Twitch, YouTube, Twitter, and Pinterest.
While Upfluence has a relatively smaller database compared to other tools, its keyword search feature allows you to rank keywords according to importance to extract precise results. You can also analyze audiences according to demographics like gender, age, location, and follower authenticity.
The platform’s SaaS hybrid model provides you with a tailored-fit service for added convenience, although it is more expensive than other alternatives. But if you have the budget, Upfluence is a great option.
Pricing: Revealed upon demo request
HypeAuditor is another comprehensive AI-powered influencer analytics software, offering solutions to manage the life cycle of your influencer campaigns. With HypeAuditor, you can access a database of over 70 million influencers and 35 different metrics to analyze the influencers’ performance across social media platforms.
HypeAuditor aims to make influencer marketing transparent and effective, ensuring your campaigns produce relevant, data-driven, and impactful results. HypeAuditor’s primary features include brand affinity assessment, fraud detection, and audience demographics analysis.
We have a comprehensive HypeAuditor review that you can read to know more about the platform.
Brandwatch Influencer Marketing
Pricing: Revealed upon request
Brandwatch is a marketing software offering influencer analytics and marketing tools known for its influencer identification and social listening. The software has advanced influencer analytics capabilities that allow you to stay on top of the trends and access detailed analytics across YouTube, Instagram, TikTok, Twitter, Facebook, Twitch, and Spotify.
Brandwatch is best for businesses that want to create decisions based on comprehensive insights, with features like engagement metrics, influencer reach, influencer discovery, automated reporting, and audience demographics.
How Do You Analyze Influencer Data?
To analyze influencer data effectively, you may begin by examining KPIs that provide valuable insights into the success of your influencer marketing campaigns. To begin with, assess engagement metrics, including likes, comments, and shares, to gauge the level of interaction and engagement with the audience. Look into follower demographics to understand the characteristics of the influencer’s audience and ensure alignment with your target market.
Then, track the growth of followers over time and evaluate the reach and impressions of influencer content to determine its impact and visibility. Use tools that measure click-through rates and conversion metrics if applicable, helping you understand the actual impact on your brand or business’s website, if any.
Your influencer marketing strategies and campaigns will attain success if you check and analyze your influencer data regularly.
Influencer analytics can boost your campaigns
Essentially, influencer analytics empowers you to make informed decisions, improve campaign ROI, and build a more strategic and effective influencer marketing plan tailored to your brand objectives. The tools and methodologies involved in influencer analytics work together to ensure the success of your influencer marketing efforts.
If you want to learn more about marketing analytics, revisit our “17 Top TikTok Analytics Tools for 2022” article and pick out anything you still find useful today.