Social Media Benchmarking: Why You Need to Benchmark Your Social Media Activity
By Sandra BuschNov 9
Published May 30th 2017
Brandnew.io surveyed its network to find how brands can better work with influencers.
We’ve distilled the findings to five essential rules that will help improve your influencer marketing.
Marketers naturally want to control the message.
While having a clear set of guidelines for posting is important, don’t limit your influencers to copy and pasting. Influencer marketing often performs well compared to other channels because creators know their audience – let them do what they do best and engage with their audience.
Give them the freedom to produce creative content that answers your brief.
When asked how influencers could better work with brands the number one answer (38%) said they would like to be more involved in the creative process.
Influencers have built their audiences based on producing engaging content.
While they are happy to consider paid gigs what the want most of all is to add value for their audience. We asked influencers to rank reasons for accepting campaign offers.
Brand and product fit were rated number one, and above compensation.
When reaching out to influencers, introduce your brand and let them discover what makes you awesome. They should want to work with you (and often do for the right brands) without the paid incentive.
Often influencers are compensated when working with brands.
Negotiations on rates can sometimes be tricky, and only 11% of influencers surveyed said they had a fixed price.
The rate varies for each opportunity. 22% said the effort required to produce the content was a factor.
The majority, 77%, priced based on reach and engagement rate. It is here where brands should offer rates based on market data. Negotiations are more successful when expectations of both sides are managed with benchmark rates.
40% of influencers surveyed were concerned that declaring sponsored content would have a negative effect on engagement.
When we compare campaign data we find no negative correlation between declared sponsored posts and engagement rate. Don’t worry, you’re not missing out, follow the guidelines of the social network and your local advertising authority.
The most influential content creators regardless of size are being approached by brands and offered opportunities for collaborations.
On average each influencer surveyed received at 1.5 offers every month, 34% received over three offers per month. 84% have an on-going collaboration with a brand.
It is important to realize that unlike other marketing channels, influencers can and are being selective. Create relationships and long-term collaborations.
In the world of influencer marketing, money really isn’t everything.