Translating discovery metrics into tangible business outcomes like revenue pipeline and efficiency requires a multi-step process:

– Alignment: Initially, it’s crucial to align influencer discovery metrics with specific business objectives. This would mean zeroing in on key performance indicators (KPIs) that can directly or indirectly influence revenue or efficiency, such as audience engagement, follower growth, content reach, conversion rates, or cost per engagement.

– Attribution modeling: Next, companies adopt an attribution model to link these metrics to tangible outcomes. For example, a simple last-click attribution model could attribute revenue to the last influencer a customer engaged with before making a purchase.

– ROI calculation: Track campaign costs (like influencer fees, platform costs, and management time) alongside the revenue or efficiency benefits that result from the campaign. A positive ROI indicates that discovery metrics have successfully translated to business results.

When comparing influencer marketing platforms, brands might consider different tool capabilities to support this process. For instance, Flinque offers features like performance tracking and advanced analytics which helps in quantifying engagement metrics and determining ROI. Other platforms, such as Traackr or Grin, also provide robust analytical capacities. The choice of platform depends largely on the brand’s specific needs and goals with influencer marketing.