“Extra! Extra! Read all about it…”
Besides in classic black-and-white films, this catchphrase hasn’t been uttered since the 1930s. Fast forward, we rush to social networks instead of the local newsstand. We gravitate towards pictures over text to retain information.
Visual content has become our new “Extra!”, and platforms like Instagram are changing the way humans connect, engage, and share information with each other.
With 600 million global users, Instagram continues to grow:
- 100 million users were added in the last six months,
- 400 million users check the Instagram platform daily
Given its reach, mobility, and focus on the user, Instagram has become an ideal channel for influencer marketing. Currently a $1B industry, influencer marketing on Instagram is expected to double by 2019. Not only a place for brands, influencers like it too, with 99.3% of influencers saying Instagram was a great place to connect with communities and brands.
Influencer marketing is powerful, but it’s tricky to get started, let alone measure. With the right Instagram metrics, you can better inform your influencer marketing strategy, and choose the right influencers to work with your brand.
Here are 3 ways to measure influencer marketing on Instagram:
1. Find out who is talking about your brand
By analyzing your brand’s mentions in an influencer’s caption, photo tags*, and comments, you can track who is talking about you.
By tracking how often your brand is mentioned and by whom, you can benchmark your brand’s share of voice and share of engagement in the market.
*Traackr’s dev team recently outlined how to search and track photo tags in Instagram. Read all about it here.
2. Analyze engagement across an influencer’s content footprint
It’s great to know who is talking about you in conversation, but who is reacting? Find out which influencers generate the most engagement when mentioning your brand, a topic you care about, or even a competitor.
With mega-influencers charging up to $500,000 per post, it’s important to understand the impact of an influencer’s content. Did someone comment? Like? Engage? Make a purchase? Know which piece of content generated the most engagement, which includes tracking likes, comments, and shares.
3. Identify influencers who drive the most contextual value
To discover new influencers, track the influencers who are talking about the topics your audience cares about most. This can help to inspire your content strategy and reveal the best people to work with.
By measuring your brand’s share of voice, share of engagement and content performance, you’ll discover the most powerful influencers on Instagram. But measurement is just one piece of the puzzle. To get started with influencer marketing the right way, download Traackr’s New Guide to Influencer Marketing.
Analyzing Measurable Metrics Around Influencer Content
It can be pretty daunting to index and analyze all measurable metrics around influencer content, across Instagram in addition to major platforms.
Traackr recently unveiled its new analytics, powered by I3 technology. Our technology enables our users to quantify the value of their influencer relationships, across all major platforms, including Instagram. Calculating post-level brand mentions is actually just the tip of the iceberg.
To learn more about unleashing the true value of influencer marketing analytics, read this recent post by Traackr's CEO, Pierre-Loic Assayag.