Understand Wechat influencer marketing KPIs
When it comes to Wechat influencer marketing, the KPI here is Page View, which means how many times a push up post has been opened.
Since follower number is not public, Page View is the most prominent number that determines how much a public account charge. Page View displays on the left bottom of the post (See image below). When compare prices, the term Cost Per Thousand Page View
- When a push up post reach 100k page view, it only displays 100k+ to the public, therefore, a post can be viewed 10million times or only 100k times. The public cannot know unless you can to see the account dashboard.
- Every Wechat ID can contribute max. 5 page views every day, which means when you open a post, close and open again, it will be count as 2 page views, but no more than 5, if you open the same post after midnight you can add 5 more page views.
- Page view only count when opening within Wechat app, although it’s possible to read Wechat post on desktop or other mobile browsers, the number won’t count for page view.
‘ Page View basically determines the price of account ‘
Is the price includes content creation?
Page View determines the price, however price differs significantly between different accounts. In general, public accounts are divided into 2 different types from the content creation perspective: Original and traffic account
- Original account is the Wechat form of influencer account: fashion blog, food blog or whatever, that focus on unique and authentic content. Original account normally taken care of content creation in house, as advertiser all you need to do is to provide materials and general ideas.The reason is Original account has more engaging users and therefore need to subtly embed the promotion information, therefore requires tailor made content for each promotion
- Traffic account, the name is kinda abstract since it’s a direct translate from Chinese, what it means is that such account focuses on generate traffic by push up news and posts from others: City focused Wechat account, affliated accounts, etc.
Traffic account doesn’t create account itself. People subscribe to get comprehensive and frequent news, therefore it is best suited for local events or sales.
‘ While original accounts can provide higher literacy quality content, traffic account is better at promoting events, store openings in a location, or big sales. ‘
Determine the price for a Wechat public account 2016
During 2016 Q1- Q3 Wechat influencer marketing sales increased 144% compare with same period last year, sales increased 242%. It’s a healthy increase that shows the market’s confidence in Wechat as an influencer marketing channel, as well as it’s ability to bring back the investment through sales.
There are no standard price list yet for Wechat influencers, each account is unique and thus have different price. However the general rule of thumb is that, with an average Cost Per Page View being 500 RMB, an account with average 10k page view costs around 5k RMB for 1 post.
According to a ranking agency, over 50% of influencer marketing sales are in the range of 5k RMB to 50K RMB during 2016 Q1-Q3, Cost per thousand page view is around 500 RMB.
Is Wechat advertising expensive compare with Facebook?
If we compare with Facebook CPM, the average is $7.19 (2016, Nov), Wechat is much more expensive in that sense, however take into consideration these 2 aspects:
- Page View is much more than impression: Users would need to be actively open the push up post and read through, what is most of the time, a long text based article, so the information included are much more than Facebook ads.
- The content are created by the account owner, in order to suit the style, and in turn align with it’s followers’ expectations. This lift up the pressure of content creating work load for advertisers.
- Moreover, it goes without saying that, you are also paying for the influencer’s recommendation.