Did you ever asked yourself: What are the KPIs for influence marketing I should use ?
Here is the list of KPIs we use at Tokfluence to allow you to find the best influencers and run successfully your influencer marketing campaigns.
Engagement Rate (ER)
Explanation
Also called “Global Engagement Rate”, it reflects the overall TikTok engagement rate. The formula is the following :
(Total Likes / Number of Videos) / Number of Followers
When to look at it ?
The ER allows you to ensure that the influencer does not have a fake community. Usually, the more an influencer has followers, the lower the ER is.
Number of Videos/week
Explanation
This indicator reflects the recent activity of an influencer on TikTok. We calculate this indicator by using its latest 20 videos (it can be less if the influencer has less than 20 videos). We take the oldest video date (OVD) and then calculate with this formula :
20 / WEEK_DIFFERENCE(NOW – OVD)
If an influencer had a huge activity in the past and stop publishing, this indicator begin to slow down.
If an influencer was inactive for a while and start publishing again, this indicator will grow.
When to look at it ?
Depending on how fast you need to do your influencer marketing campaign, this KPI can help you choose influencers that have a higher video creation rate.
It is particularly relevant when you want to generate brand content through micro-influencers. Let’s say you need 1 video per day; you are more likely to succeed with an influencer that usually creates 7 videos / week rather than 0.5 videos / week.
Potential Reach (like)
Explanation
It reflects the potential number of likes you can have with an influencer’s TikTok video if you do a partnership with each influencer in your campaign. It is the sum of each influencer’s potential reach. Let’s say you have n influencers, the formula is :
NF1 * ER1 + … + NFn * ERn
with NF = Number of Followers, ER = Engagement Rate
When to look at it ?
It is a good way to adjust with your expectations. Let’s say you want 100k potential reach in like, if you are under you know that you have to add some influencers, if you are upper you know that you have to remove some influencers.
Keep in mind that the TikTok algorithm can randomly outperform or underperform an influencer video. The more you add influencer in your campaigns, the lower the random factor is.
Potential Reach (view)
Explanation
It reflects the potential number of views you can have on an influencer’s TikTok video if you do a partnership with each influencer in your campaign. To keep it simple, we just multiply the potential reach by 5 because the average view/like ratio is 5.
Potential Reach (like) * 5
When to look at it ?
Like the potential reach in like, it allows you to adjust with your expectations. You also have to be aware of the randomness of the TikTok algorithm.
Estimated Cost
Explanation
First, you have to know that TikTok ads pricing starts at 10$ for 1000 views. When you do a partnership with an influencer, you will have a higher engagement compared to TikTok ads but you won’t have precise targeting options (gender, location, age, interest) like you can have in TikTok ads (if you have the chance to have an access to it ;)). By taking this into account, we estimated that the price for 1000 views of an influencer video is 5$. So, the formula is :
(Potential Reach (view) / 1000) * 5$
When to look at it ?
It gives you an order of magnitude to negotiate with influencers. It is an estimation of the overall budget you should spend for your influencer marketing campaign.
🧐 Wondering what we do at Tokfluence ?
We are a Tiktok search tool. We also provide influencer campaign management. We prefer calling them creators though but what we provide is a huge database with relevant filters so that agencies and companies can find the creators who fit their need and contact them. Please checkout our website for more information: https://tokfluence.com or contact us at contact@tokfluence.com.