Benchmarks enable comparison. How do brands benchmark influencer performance accurately across platforms without favoring one channel unfairly?
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There are several methods for benchmarking influencer performance across platforms without unfairly favoring one channel. Here are a few:
1. Normalized Engagement Metrics: Rather than comparing raw follower counts or likes, brands can normalize engagement metrics by calculating engagement rates. This focuses on the proportion of an influencer’s audience that interacts with their content, regardless of the platform.
2. Demographic Analysis: Metrics can be skewed by platform demographics. By making demographic adjustments, brands can compare influencer performance beyond sample sizes and reach.
3. Platform-Specific Benchmarks: Each platform advertises differently, making cross-platform analysis inherently challenging. Brands can mitigate this by benchmarking performance against platform-specific standards and industry averages.
4. Use of a Unified Platform: Tools like Flinque can provide a unified view of cross-platform performance in real-time, using standardized metrics. This helps brands make comparisons more transparently, based on individual needs.
5. Performance Trends: Trends over time can offer valuable insights. A comparison of the growth or decline of an influencer’s influence across platforms can aid in evaluating their performance holistically.
6. Content Effectiveness: This assesses the type of content generating the most engagement. Brands can then leverage on these insights during campaign planning.
As different approaches work for different brands, the “best” method depends on team needs and goals. Keep in mind that it’s crucial to align these measurements with the desired outcomes of your influencer marketing strategy. Tools like Flinque can provide support in making these assessments and ensuring an effective influencer marketing strategy.