When it comes time to report on your influencer marketing initiatives, your Tribe Dynamics dashboard can provide a lot of data about your Ambassador community and the content being produced about your brand. To help you navigate the ecosystem, think of every number you see as one piece of the puzzle; when evaluated together, our metrics are designed to come together to form a comprehensive picture of your earned media program.
By providing a variety of complementary data points, we hope to empower you to make nuanced and informed decisions about your brand's influencer marketing strategy.
Evaluating brand performance
Benchmarking against my own brand
Earned Media Value (EMV) measures the collective performance of your brand’s earned media content over time. Your brand’s EMV is the sum of the EMV earned from individual posts that mention your brand in a given time period.
Benchmarking against my competitors
EMV Share measures your brand's performance relative to the performance of your chosen competitors on the basis of engagement and content volume. Use EMV Share to determine whether your brand outperformed or underperformed your competitive set over a given time period.
Benchmarking against my vertical
The EMV Index measures the earned media performance of the top 100 brands within your industry (e.g., Cosmetics, Haircare, or Skincare). Compare the percentage change in your brand's performance to the average percent change within your EMV Index to determine whether your brand outperformed or underperformed your relevant vertical(s) over a given time period.
Evaluating content performance
Besides EMV, there are a variety of alternative metrics to help measure the performance of your earned media posts. Each of these metrics is meant to help you understand how audiences are engaging with content and report on the impact of your creator community.
How actively engaged are your influencers' audiences?
Total Engagements measures the total active engagements received on your content by totaling the number of Likes, Comments, and Shares per post. This metric is available at a post level as well as aggregated across Brand Buzz, Campaigns, and Profiles. Leverage this commonly used metric to understand how engaged audiences are with content that mentions your brand.
How well does the content resonate?
Engagement Rate is a calculation on the number of Total Engagements received on a post divided by the follower count of the content creator. Tribe Dynamics also provides an Ambassador-level and channel-level Engagement Rate by averaging the Engagement Rate of all branded content created on a specific social media channel over the last 6 months.
Use the post-level, Ambassador-level, and channel-level Engagement Rate to compare content performance and set expectations on what future results may look like. Tribe Dynamics also color codes Engagement Rate to help you understand what might be considered a "good" or a "poor" Engagement Rate based on content created by influencers with a similar follower count on the relevant social media channel. Read more about this metric here.
How many times was the content viewed?
Estimated Impressions reports the approximate number of times a piece of content is displayed on a screen for a social media user (viewer). A viewer doesn’t have to engage with the post in order for it to count as an impression. Based on the engagement metrics and follower count that Tribe Dynamics collects, our machine learning model estimates Impressions for each piece of content that we track. Use this well-established metric to understand the size of the audience your influencer community commands.
Note: Estimated impressions are unable to be calculated for blog posts at this time.
How large is the prospective audience?
Potential Reach is measured as a total number of followers accounted for by a set of Ambassadors, across the social media channels on which they've posted about your brand or Campaign. For example, the Potential Reach of a given Instagram post is equal to the number of Instagram followers that the publishing Ambassadors has gained. Similarly, the Potential Reach for a given Campaign is equal to the total number of followers accounted for by the Ambassadors who posted in this Campaign, based on the social media channels on which they posted.
When reporting, we recommend pairing Potential Reach with a metric like Engagement Rate, which can help you understand the effectiveness of your earned media content relative to the possible audience size.
Evaluating an influencer community
In addition to the above, our suite of community metrics can help you understand what–and who–is driving your earned media program.
Who and how many?
Ambassadors (i.e. community size) measures the total number of unique Ambassadors who created content about your brand within a given time period. A growing number of Ambassadors signals that your brand is gaining traction and relevance in the earned media space.
Posting Frequency is the average number of posts each Ambassador in your community is creating about your brand within a given time period. A high Posting Frequency signals that a brand has a productive community that can help sustain brand relevance by creating content often.
Ambassador Potency is the average amount of EMV each Ambassador in your community drove for your brand within a given time period. High Ambassador Potency signals that a brand has an influencer community capable of creating compelling content that their followers want to engage with.
Now that we're armed with an understanding of the metrics that your Tribe Dynamics dashboard can provide, let's head to Brand Buzz to start setting some influencer marketing goals 🏎