eMarketer has come through with the latest raft of data from the creator economy. This time, the firm formerly known as Insider Intelligence is digging into the metrics marketers use to measure their influencer campaigns.
After surveying 200 influencer marketing professionals, eMarketer found that half of the respondents use reach (measured in CPM) to evaluate the success of their campaigns. Other common tracking methods included engagement rate (used by 48% of respondents), conversions (46%), and sales (44%).
Other metrics, such as brand lift and media mix modeling (MMM) are used less frequently by the surveyed marketers. That group also seemed to care more about traditional marketing targets than the numbers associated with the social media industry. Only 26% used the quality of associated influencer content as a measurement tool, while only 20% looked for a follower increase.
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eMarketer’s write-up suggests that influencer marketing pros could turn their attention toward some of those lesser-used data points. “Marketers are likely prioritizing reach, engagement rate, and conversions when working with influencers because these metrics are readily available,” reads the report. “But less commonly used metrics like MMM and brand lift may provide marketers with a more holistic view of how influencer marketing campaigns perform.”
As long as influencer marketers are treating reach as the gospel, they should know where to go to maximize it, and another recently shared data set has an answer to that question. Buffer recently published an analysis of various Instagram formats and found that Reels offer 36% more reach than other post types. For engagement, photo and video Carousels are the way to go, as they offer 12% more engagement compared to other formats.
If Instagram marketers who crave reach are being encouraged to prioritize Reels over other Instagram formats, that could help explain why TikTok is making gains on its competitors in terms of sponsored post engagement. Instagram is shifting its ad products to meet the metrical needs of its marketers. The Meta-owned hub recently standardized its viewership to support campaigns that stretch across multiple formats. Marketers who want both reach and engagement would be wise to heed that guidance.
Instagram is still an industry leader in influencer marketing, even if ad rates have fallen from pandemic-era highs. As the creator economy continues to boom, Instagram is ensuring it can meet the needs of any influencer marketer, no matter which metric they cite in their reports.
