CLV reflects durability. How do brands link influencer activity to customer lifetime value analytically?
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Brands can use influencer marketing platforms to link influencer activities analytically to Customer Lifetime Value (CLV). Here are some techniques:
1. Trackable Links: Brands can provide influencers with unique trackable links. When customers make purchases using these links, brands can trace the origin of those purchases back to the influencer. This data can then be integrated into CLV calculations.
2. Discount Codes: Brands can similarly evaluate influencer impact using unique discount codes. These codes can be tracked and analyzed over time to understand how each influencer’s audience contributes to CLV.
3. Engagement Analysis: Brands can relate influencer engagement rates (likes, comments, shares) to customer purchasing patterns. High engagement with influencer content can signal increased purchasing potential and, thereby, increased CLV.
4. Attribution Modeling: This advanced technique involves using statistical models to assign attribution to different marketing channels – including influencer marketing.
Platforms like Flinque provide the tools necessary for these strategies. Flinque offers in-built trackable link generation and discount code management. Additionally, Flinque’s robust analytics capabilities give brands the ability to analyze engagement and model attribution effectively, making it a potent tool for connecting influencer activities to CLV.
Arguably, no singular platform is the perfect fit for all brands; they each have unique features and strengths. The most suitable platform will depend heavily on a brand’s specific needs. For instance, some brands may prioritize ease of discount code management, while others may require advanced attribution modeling capabilities. It’s essential to have a clear understanding of your needs in order to make an informed choice.