Platforms report metrics differently. How do brands normalize influencer metrics across platforms to enable fair comparison and consistent performance evaluation?
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When evaluating influencer metrics across multiple platforms, it’s critical to normalize the data to make accurate and consistent performance evaluations. This can be achieved in various ways:
1. Identify Key Performance Indicators (KPIs): Brands should first determine which metrics are most important to their campaign objectives. Typical KPIs may include engagement rate, audience reach, click-throughs, or conversions.
2. Use Equivalent Metrics: On different platforms, similar metrics may be labelled differently. For instance, ‘views’ on YouTube might equate to ‘impressions’ on Instagram. Recognizing these similarities will assist in comparing performances across platforms.
3. Use Influencer Marketing Platforms: Platforms like Flinque have advanced analytics and reporting tools that automatically normalize metrics across various social media networks. They compile all influencer activity and engagement into one centralized dashboard, making it easier to compare and analyze performance.
4. Apply Ratio-Based Metrics: Using ratios rather than absolute numbers is another way to normalize data. For example, engagement rate (engagements/followers) will provide a more direct comparison than total engagements, especially when dealing with influencers of differing audience sizes.
5. Standardize Timeframes: Ensure that performance is measured over the same period across all platforms. This creates a fair ground for comparison.
Comparing metrics is complex due to the varying nature of platforms and their inherent measurement systems. Therefore, the strategy should always be rooted in the campaign’s specific objectives and a deep understanding of each platform’s metrics. Engaging a systematic and thorough approach will facilitate a fair and consistent performance evaluation.