In Estonia, Influencer marketing is more popular than you might think.
In fact, using a tool to find influencers we can see that there are more than 5000 individuals in Estonia, with Estonian audiences and a minimum of 1000 followers on Instagram.
This huge number of social media savvy Estonian’s has caught the eye of local and international brands who are paying Estonian influencer’s for promotion.
Study: How much do influencer’s charge in Estonia?
This comes with a set of challenges, not the least of which is identifying influencers with genuine and engaging target audiences.
How many fake followers do Estonia’s top influencers have?
1,100,000. One million one hundred thousand.
Approximately 22% of the 4.8 million followers we analyzed.
We used Modash to analyze the Top 150 most followed influencers in the Estonian Market. The results were surprisingly positive but action is required from Estonian brands that want to save their budgets from fraud.
What do Estonian brands need to look out for?
The bad behaviour in the good network.
We work with brands all over the world on influencer marketing and we recommend not to work with anyone with more than 75% fake followers. Estonia as a whole comes in above this with 78% real followers. Latvia for reference came in below this threshold.
That being said, as always there is a small number of people who have extremely low audience credibility and are essentially 100% useless for brand promotion.
34 of the 150 people we worked with fall below 70% credibility. One way to think of this is that you are likely paying at least 30% more than you should if you are paying based on the number of followers.
A few related common pitfalls:
- Assuming your agency will care about fake followers or that they use the technology to detect them. Their job is to sell you something, not to provide you value (they get your money either way). Vet your agencies tech. I can do this for you if you want.
- Assuming the product they use will protect them from fake followers, even though there is no sign that it does. Ask how influencers are vetted and ask for evidence of this. Preferably, ask them why they are better than Modash (good benchmark).
- Paying based on follower number/reach. If your metrics are more objective than these, you can more easily justify spending money on influencers. Conversions is our favourite way to measure influencer marketing ROI.
How to avoid fake followers?
Use a tool that easily allows you to find credible influencer’s and analyze audiences, or pay based on metrics other than followers (conversions for example). I can help you set this up for free in your organization, or answer any questions you have about influencer marketing.