Influencer marketing benchmarking should be measured on diverse metrics for a meaningful comparison across brands, industries, platforms, and campaign goals. Here are the key benchmark metrics:

1. Reach: This measures the potential size of the influencer’s audience. It’s the total number of followers across various social media platforms. Be aware that this metric may vary depending on the platform’s reach calculation method.

2. Engagement Rate: This is the measure of how interactive an audience is with influencer’s content. It’s calculated by dividing the total engagement (likes, shares, comments) by total followers, then multiplying by 100.

3. Conversion Rates: These are specific key performance indicators that align with campaign objectives, like sign-ups, downloads, or purchases, divided by the number of engagements or impressions.

4. Quality of Followers: The followers’ quality can be analyzed through audience demographics like age, location, interests, which can help identify the right influencer for targeted campaigns.

5. ROI: Return on Investment, calculated as (gain from investment – cost of investment) divided by the cost of investment, captures the overall monetary success of the campaign.

Different influencer marketing platforms provide various tools for these measurements. For instance, Flinque offers extensive audience analytics and ROI measurement tools.

It’s worth noting that different industries may prioritize different metrics. For example, lifestyle brands may prioritize engagement rates while e-commerce might focus on conversion rates. Selecting your benchmarks must align with your brand’s goals, platform, and industry.

In conclusion, benchmarking in influencer marketing is not a one-size-fits-all scenario. It requires careful selection and prioritization of metric based on your campaign’s specifics.