When engaging in an advocate marketing campaign, you don’t always need to engage the influencers with the largest followings. In fact, you may actually see more of an impact with influencers who have smaller or more targeted followings in a particular space.
In our recent blog, we introduced the idea of the viral coefficient and how it can help predict the success rate of your viral marketing campaigns. One often overlooked factor is engagement rate, a metric that helps brands understand how much engagement an influencer is actually generating with their followers. While working with influencers who have a significant following helps increase your odds of going viral, it can actually be more beneficial to work with influencers who have smaller, more targeted audiences when you consider their engagement rates.
Consider the following scenario: you are a large food/candy brand who is building an advocate marketing campaign that asks influencers to invent creative Easter snacks with one of your products. You are working on a limited influencer marketing budget and only have the money to choose 10 influencers, so you have to decide between two groups:
#1 A general group of 10 stay-at-home-mom bloggers who have 100,000 followers each, but an engagement rate of 1%.
#2 A group of 10 top food bloggers who specialize in recipe creation and photography who only average 10,000 followers each, but maintain an average engagement rate of 15%.
Which group of influencers do you choose?
If you went with the initial group of general mom bloggers, you’d net a total 10,000 interactions. With the second group of food bloggers, you’d net a total of 15,000 interactions. Check out the number crunching below to see how this works:
What this shows is that it’s more important to pick a more targeted list of influencers, rather than simply selecting the ones with the largest following. In our new eBook Influencer Marketing Benchmarks and Other Key Takeaways, we discuss strategies like this to help maximize your influencer marketing investment by looking beyond the “traditional” metrics of influence.
Using a strategy of engaging with a targeted list of qualified influencers with high engagement rates, Kraft Foods saw a 3100% ROI that delivered:
- 759,000 blog views
- 15,995 clicks to brand URLs
- 178,868 pins
- 7,720 shares and 1,735 tweets
Are you looking to build an influencer campaign, but aren’t sure where to start? Download our eBook: The Guide to Influencer Marketing Automation, and learn how to manage all 5 components of influencer marketing. Click below to get your copy today.