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Industry-wide studies on consumer behavior from the Cohley Insights team.
Let’s talk data! At Cohley, we love leveraging the data behind our campaigns to inform our brands how to best optimize their content strategies. In fact, one of our favorite phrases in the office is: Let the data speak for itself
We typically encounter three scenarios when discussing content creation and influencer marketing strategies with brands.
In Scenario 3, we’re pumped to be speaking the same language, and admittedly, slightly bummed that we don’t get to broaden your horizons. However, we find that most brands fit more with Scenario 1 and 2 and aren’t quite sure how to leverage data from their campaigns to inform their content strategy.
If you feel like you fit more with Scenario 1 or 2, listen up! This will be the first installment of a mini-series, in which each blog post breaks down a different metric, why it matters, and how to leverage it effectively. By the end of the series, you’ll be a content data expert! First up: engagement rate
Engagement rate is one of the most crucial KPIs for campaigns with impression-focused goals. It is a crucial variable in vetting creators to work with pre-campaign, as well as an indicator of a campaign’s overall success post-campaign.
When talking about engagement rate, we’re talking about the actions taken by users and customers. It demonstrates where in the funnel users are, and the level of commitment they are ready to take. It can come in the form of a click, a like, a contact, anything more than an impression.
Good engagement rates are subjective and related to the campaign running. Generally, here are our metrics:
When assessing creators through Cohley’s platform pre-campaign, Trending Engagement, alongside Audience Credibility, are reliable indicator of success. When vetting influencers and creators, resources are limited, and the resources at your disposal are often susceptible to manipulation - think purchased followers and paid likes.This is why we provide both audience credibility and trending engagement rates for each creator. who applies to your campaign.
Post campaign, Cohley generates an aggregate engagement rate from all creators’ posts, as well as individual engagement rates on a creator-by-creator basis. Armed with this data, you can evaluate the overall performance of the campaign in terms of impressions and brand awareness, while also identifying top performers with which to foster long term relationships.
Was my campaign effective in generating impressions and interactions with my posts? Did it elicit a response? Do the accepted creators adequately speak to my brand? Which ones didn’t? Which creators do I want to work with again?
All of these questions can be answered by evaluating engagement data. The results can help home in on which strategies work and refine tactics for future campaigns. Let the data speak, refine the strategy, execute, repeat.