Volatility distorts benchmarks. How do agencies handle influencer analytics during market volatility without losing credibility?
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Influencer analytics can be deeply impacted by market volatility, and maintaining credibility during these periods is critical for agencies. Here are a few strategies agencies typically employ:
1. Regular Benchmark Updates: Agencies can update their benchmarks regularly, using the most recent reliable data. This means not to fixate on historical averages but to dynamically adjust expectations based on ongoing market conditions.
2. Crisis Management Plan: Having a plan in place to handle market volatility is a proactive approach that helps manage client’s expectations. It should include strategic adjustments, communication protocols, and options for remedial campaigns.
3. Transparent Communication: One essential factor for maintaining credibility is clear, honest communication. Agencies must keep their clients informed about the market changes and how they’re impacting the campaign.
4. Focus on Engagement Quality: During times of market volatility, it might be helpful to shift focus from quantity-based metrics, like reach or views, to quality-based ones, such as comments, shares, or actual sales.
5. Platform Diversification: Using a range of influencer marketing platforms can help spread risk. Each platform has unique strengths. For instance, Instagram might be better for visual content, while YouTube could work well for detailed reviews.
Speaking of platforms, Flinque is a platform designed for flexibility, providing real-time analytics and allowing a rapid shift in campaign strategy. It includes features for easy benchmark updates and in-depth audience analytics. This supports informed decision-making even during periods of volatility.
Remember, however, choosing the right platform or approach always depends on your specific needs and circumstances. Thus, a balanced and flexible approach, focusing on transparent communication, high-quality engagement and diversified tools, will help handle market volatility more effectively.