What are Benchmarks?
Benchmarks is a simple tool that helps you compare the performance of your programs to all other TapInfluence campaigns by social network and category.TapInfluence has run thousands of campaigns for over 2,000 brands and we have the largest database of influencer and program transactions in the world to inform this feature. The current Benchmark calculation is based on view rates for blogs and engagement rates for social channels like Facebook, Twitter, Pinterest, Youtube, and Instagram. We are always working to improve the accuracy of our Benchmarks as well as adding more metrics into the algorithm. In fact, we update Benchmark data weekly so customers always have access to the most current trends.
How are Benchmark scores calculated?
- We compare the performance of individual content posts to our time-based category and social platform data. For example, if an influencer produced a beauty Instagram post for you 15 days ago, we would compare the performance of that content to both our 15-day-old beauty category benchmark and performance on Instagram.
- We classify performance of the content as “below average” when it’s lower than the 33rd percentile, “within average” when it’s between the 34th and 66th percentile, and “above average” when it’s higher than the 67th percentile.
- Based on the distribution of content performance, we calculate a weighted scorefor the category your program is associated with and for each social platform your program has content on. Benchmark scores can be broken down into three categories with 1-3 indicating “below average”, 4-7 being within “average” and 8-10 signaling “above average.”
How should you interpret Benchmarks?
You can look at your Benchmarks in a number of different ways.
- Iterate and improve: Benchmarks are intended to be an iterative guide to maximizing your return on investment with influencer content. Use our Benchmark data to determine which strategy worked and which didn’t, and to ultimately drive the one metric that really does matter - sales lift.
- Learn your brand's strengths: Not every social platform is created equal. Some platforms might be better for fashion and food photos, while others naturally attract consumers who love home decoration ideas and recipes. Use our Benchmark data to learn about which platforms and categories your campaigns succeed in.