For years, marketing and advertising efforts have lived in the “bigger is better” playground. The more impressions you garner, the more fans you have, the more followers, the more clicks, the more views – you name it, the more something – the greater your success. Sure, quantity is important, but is that really where you should be focusing all of your attention when it comes to tracking your progress?
Here at Insightpool, we help our customers use influencer marketing solutions to find the optimal balance of quantity and quality.
Using Influencer Marketing Solutions to Collect Audience Insights
Now, this sort of methodology could apply to all types of marketing tactics, but for time’s sake, let’s look at one example: Building your social audience. It’s something we hear all the time — “How do we connect with more people?,” “How do we grow our audience?,” “How do we boost our reach?”
These are all important questions to ask. But you need be developing outreach strategies and setting up tracking measures that analyze not just how much you drive, but also how efficiently and effectively you do it.
For example, let’s say that I work for the popular sportswear company Columbia, and I have a big Q4 focus on developing my social audience to start pacing toward The North Face, one of my key competitors. The first metric that most marketers focus on is audience size — “The North Face has 389K people in their audience; I have 107K. How do I bridge that gap?”
Cool. Great start. Now, why don’t we take a deeper dive into the quality of those audiences. Right now, I’m sitting at a little over 27% of The North Face’s audience size, but am I making up for the smaller audience in my audience quality?
At Insightpool, we focus on three quality areas: relevance, influence, and activity.
Let’s take a look at the types of people that make up the audiences for both brands. Using a software solution like Insightpool, you can analyze the top topics of influence for any audience, owned or otherwise:
In addition to helping me understand the relevance of my audience, this quickly surfaces some interesting insights. Fishing, hunting, and parks, for example, are all top topics of influence for Columbia’s audience that aren’t present in The North Face’s top 10. This is a great way to use social data to guide your content strategy and optimize your paid media targeting.
In addition to analyzing audience makeup, I also want to understand the influence of the people I’m connecting with on my social channels. As an influencer marketing company, this is a key area of focus for us when it comes to measuring success. Although Columbia has a smaller audience, each audience member is connected to 30% more people on average. Great! That’s something the exec team would like to hear.
I can also look at the audiences’ influence breakdown through Insightpool’s Klout integration. Klout gives a person a score from 1-100 based on their level of influence across all social media platforms:
Lastly (at least for today’s rundown), I want to understand how active my audience is. Am I pushing my content to a bunch of inactive users? Is my audience actually talking about my brand? Let’s find out:
Okay, pretty even playing ground there, but how much is my active audience communicating with me? One way to analyze this is to understand how many times your audience members have mentioned your brand in the last month.
Using Insightpool, I can see that 0.16% of The North Face’s audience mentioned their brand in the last 30 days. On the flip side 0.42% of Columbia’s audience mentioned them in that last month. That’s a 163% greater percentage. Columbia is doing a better job cultivating their audience in terms of the percent of their audience that’s talking about their brand.
As you can see, there are many important metrics you can track to help your team understand the success you’re driving on social. Yes, your competitors might have larger audiences, but yours might be more active… and are your competitors even pushing their content to the right people? When you’re setting your marketing goals, approach it from both angles. If you take a step back and analyze the quality of what you’re doing, you might easily discover some quick wins! Shoot for the stars, but make sure you’re hitting your quantifiable goals in the best way possible.