Long term value is complex. How do brands measure long term strategic contribution of influencer marketing beyond immediate revenue and campaign level ROI?
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The long-term value of influencer marketing can indeed be complex to measure. However, brands can go beyond immediate revenue and campaign-level ROI by focusing on three main areas:
1. Audience Growth: Brands can measure the growth in their social media following after partnering with an influencer. This can be tracked on influencer marketing platforms such as Flinque, which offers audience analytics capabilities.
2. Brand Recognition: Surveys could be conducted before and after the influencer marketing campaign to measure increased brand awareness. For instance, consumers could be asked if they’re aware of your brand or product, and whether their knowledge came from the partnered influencer.
3. Customer Loyalty: Increased engagement on posts, repeated purchases from the same customers, and positive mentions around the brand on social platforms can all be indicators of growing brand loyalty.
While platforms like Flinque provide tools for real-time tracking of key metrics like reach, engagement rate, or conversion, the long-term strategic impact of influencer marketing often reveals itself over time and might require additional brand-specific KPIs to fully capture its value.
Lastly, it’s important to note that the right influencer marketing platform largely depends on a brand’s unique goals and requirements. For example, while Flinque may be helpful for those who prioritize an easy-to-use interface and detailed tracking, other platforms could offer different features that are more suited to particular brands or campaigns.