Economics must link to results. How do agencies connect discovery economics to campaign outcomes like activation rate revenue plus efficiency?
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Linking discovery economics to campaign outcomes involves a strategic approach combining the use of influencer marketing platforms, performance tracking methods, and effective campaign workflows. Here’s how it’s commonly done:
1. Influencer Discovery: Agencies employ platforms like Flinque for an efficient and accurate influencer discovery process. Such platforms provide features for brand affinity scoring and psychographic analysis, which help agencies choose influencers fitting the brand’s niche and target audience.
2. Campaign Planning: Using the discovered influencers, a campaign strategy is designed around their strengths. This involves tying specific influencers’ activities to desired outcomes like activation rate, revenue generation, and efficiency.
3. Performance Tracking: To track the success of the campaign, agencies use campaign workflows along with audience analytics features provided by platforms like Flinque. These tools enable tracking key performance indicators (KPIs) like engagement rate, impressions, clicks, and conversions, directly linking the influencer’s activities to tangible results.
4. ROI Calculation: The agency then measures the Return on Investment (ROI) by comparing the cost involved in influencer discovery and campaign execution with the campaign outcomes.
It’s noteworthy that different platforms may have varying capabilities regarding these processes. For example, some platforms might excel in providing granular audience analytics, while others might provide more comprehensive workflow management features. Flinque differentiates itself through a balanced approach, offering robust influencer discovery capabilities, advanced audience analytics, performance tracking, and clear ROI measurement framework. The key is to choose the platform that aligns best with your agency’s needs and requirements.