The 3 KPIs for Effective Influencer Marketing

Influencer marketing is a growing part of the online marketing mix, which has become an over $2Bn industry (in 2017).  So far, the data side of the industry has posed a challenge, and marketers often have to learn by trial and error without sophisticated analytical tools to guide decision-making.  At Matchmade, we’re on a mission to make influencer marketing measurable, efficient and transparent. We analyze all gaming-related content on YouTube, and run hundreds of influencer marketing campaigns. We wanted to share some basic metrics any marketer can consider for running successful influencer marketing campaigns in the three phases of campaigns: planning, running, and analyzing.  

Planning: Content and Audience Match

Finding the right influencers is the trickiest part of influencer marketing. Browsing through an endless number of YouTube videos and Twitch channels when searching for the right influencers for your game can be very time-consuming. One trick is to focus on content match first:

  • Make a list of titles that are similar enough to your game. Do you have a sports game? Look at FIFA channels. Is your game open world? Start with Minecraft channels, or GTA V, etc.
  • Use this list as the stepping stone to search on YouTube, Twitch, and other platforms.
  • Remember to consider different sized channels during your search!
  • Psst: We automate the search process by analyzing all gaming content on YouTube (2.5M channels, 250M videos), and are more than happy to share the data of the influencers most relevant to your game with you. Click here for more information.

Now you have a list of channels with similar content… Then what?

  • Narrow your list down based on audience match.
  • Ask the influencers, their manager, or agency for the data but you should also make sure your target demo and geo match with the influencer’s audience.
  • Psst: Matchmade can help here too if you don’t want to do the heavy lifting 🙂

For example, Fifa and Fortnite are very different type of games, but they reach a similar audience (18-24 year-old males). What would be the next step to take here? Figure out if your game fits with what these viewers want to see. If your game makes sense to the channel’s audience and content, you’re in a good place reach out to the influencer.

Running: Average Viewership and Engagement

You’ve found your influencers, and you’re running a campaign. Your sponsored video is LIVE on their channel. Exciting! How do you evaluate how your video is doing and the results of your influencer marketing campaign? As a rule-of-thumb, you can look at the average viewership + engagement of the influencer’s videos to get a rough estimate:

  • A good way to do this is by taking a look at the average number of views these YouTubers have in the videos they have created in the last 2 – 4 weeks, and their engagement (number of comments and likes). Dividing the engagement by views gives you a % of how many of the channel’s viewers interact with the content.
  • Compare the viewership and engagement rate to how many views and conversions your video received to understand whether your content is performing well and the influencer’s audience is liking your game. If on average, the engagement and click-through rates of a channel is 3%, you’re doing well.
  • Your viewership will be lower if you sponsor a dedicated video about your game (no other title mentioned in the video). That’s why content match is critical: if your game matches a channel’s content, the viewers are more open to watching videos about it. If you run an integrated campaign (your game is mentioned within a video that includes other content), you can expect higher viewership but the conversion rate will be lower. So, keep your campaign goals in mind when deciding which influencers to work with.  

Engagement, why does it matter?

  • An influencer with a high number of subscribers is great way to reach a broad audience as bigger YouTubers usually have a less engaged audience. Which channel would you choose if the one with 4 million subscribers only has 0.2% of its audience liking or commenting on their videos on a regular basis, and the channel with only 500K subscribers has 10% of their audience regularly doing that? It’s natural to pick the smaller channel with higher engagement because it means the video featuring your game would most likely be high performing.

At the end of the day, the insights gained during your influencer campaigns help determine if the YouTubers you picked today are the right fit for your campaigns tomorrow.

Analyzing: Number of Installs Gained From Your Campaigns

The number of installs you get from your campaigns pretty much defines the ROI of your influencer marketing campaign. This is why tracking your downloads and teaming up with 3rd party data partners at the initial stage are so important.

This way you can:

  • Accurately estimate the number of non-attributed (organic) installs you can get.
  • Increase your ROI by using the sponsored video in your UA efforts.
  • Ask the influencers to add a CTA in their social media to follow your channels, or even engage with the audience in the comment section (could be very time consuming though!)  

Matchmade, the intelligent influencer marketing platform, supports most 3rd party data partners, and we offer real-time campaign performance metrics on our dashboard. We’ve also added the Advanced Analytics toolset for deeper data dives into influencer marketing performance.

Key Takeaways:

  • When you’re planning your influencer marketing campaign, pay attention to the channels’ content and audience. Make sure your game matches the channel’s content, and that you can reach your target audience through your chosen influencers.
  • During the campaign, keep an eye out for viewership and engagement to have a feel of how your sponsored videos are doing.
  • After the campaign, measure the number of gained installs, and compare that to the price of your campaigns to understand your ROI. (More about the ROI of influencer marketing is coming soon!)