Assuming that you choose to work only with SMI (social media influencers) who are relevant to what you do, here are the reasons behind my suggested KPIs for evaluating them:
KPI 1: Content Creation
Do they produce original, non-intrusive, unique-point-of-view content for you? One of the most amazing deliverables you can get from Macro and Micro-influencers is the content they create for you. It should be different than what your internal team produces, yet be content you can reuse in your storefront, TV ads, brochures, social media, etc.
KPI 2: Tagging
Tagging is one of the most under the radar KPIs, for some reason. Tagging refers to the way one “tags” other accounts in the comment area on a post. The more tagging, the more people invite friends that might find your brand relevant. It’s pure word-of-mouth activity, by the users themselves, generated from excellent messaging by the SMI.
Read here for more details and some examples.
KPI 3: Reshares
How many followers have shared the content on the social platform it is posted on? (For example, retweets on Twitter).
Bookmarking (1), Sending (2), Commenting (3) and Liking (4), as Instagram KPIs:
KPI 4: Bookmarks
On Instagram and other platforms there is a way to measure how many people have bookmarked your posts. Doing so shows that the post was important for people, that it touched hearts, or that the SMI connected so successfully that the followers want to keep it (forever?) …
KPI 5: Sending To Friends
This feature should now be available on all social apps – if you like someone’s post, you can hit a button to share that post with friends, whether one friend or a group.
KPI 5: Comments
It’s so important that an SMI creates a conversation about what you – the brand – does, your story, your message. To see if they can manage to do that, go to the comments area on their Instagram/Facebook/Linkedin/TikTok, etc. posts and check how good the conversation is. But do not use the current engagement formula (total interactions divided by reach) – that formula does not bring consistent results.
KPI 7: Influencer Followers
People follow someone because they trust them, and they are interested in becoming their community members. Once you hire an SMI, it could be great if they are able to transfer some of that trust to you, the brand that hired them. This can be quantified by looking at the new followers you’ve gotten during the SMI campaign.
KPI 8: Brand Mentioned
Quantify how many times your brand was mentioned during, and as a result of, the SMI’s endorsement. This includes campaign hashtag usage. And – if some of those new followers end up representing or defending you somewhere online (such as in a Facebook group about one of your products), then that’s a special bonus point for that SMI!
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KPI 9: Editorial Mentioned
You might see this when working with SMI who are experts in their trade, also called KOL (Key Opinion Leaders). For example, Jon the SMI is quoted by Wired Magazine saying that xyz’s new VPN solution is powerful. When an SMI talks abut you, and this is captured/mentioned by the media, that is huge!
KPI 10: Total Links
Quantify the number of links that the SMI linked to you. This can be very valuable because SEO is a lot about authoritative, social-proven links to your website, and that’s exactly what we are talking about here.
KPI 11: Impressions & Views
How many times the post was seen.
KPI 12: Video Watch Time
How many minutes of the video created have been viewed.
KPI 13: Meaningful Installs
Some know this KPI as “pay per install”, of (iOS/Android) apps.
KPI 14: Clicks
How many people clicked on the links in the post.
KPI 15: Email list registration
Success in sending followers to sign up for your email list can be a KPI. Just make sure the page loads fast, provides a compelling reason to sign up, and doesn’t look too different than the social media platform they are coming from. Note: Handle with care and keep your expectations reasonable.
Email List Registration
Number of people that registered your mailing list.
KPI 16: Reach
Number of followers (minus fake followers, mind you) the SMI has. Notice that this is the last KPI listed, rather than the first, as in some approaches.
Lmk your questions. Come back again to this blog post, as I update the KPI list often — as you know, social media moves really fast and there are new innovations and possible KPIs developing weekly…!