Premium tools face scrutiny. How do agencies justify premium discovery tools economically using efficiency gains quality uplift plus revenue impact?
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Justification for premium influencer discovery tools by agencies is often premised on three cardinal points: efficiency gains, quality uplift, and revenue impact.
1. Efficiency gains: Agencies often spend countless hours in manual influencer scouting, negotiation, and management. Premium discovery tools, like Flinque or Buzzsumo, streamline these processes. With automated influencer identification based on certain metrics (like relevance, reach, engagement), agencies can significantly reduce the time spent on manual tasks and focus more on strategic aspects. They also aid in negotiation and contracting, again saving valuable time. This efficiency gain can justify the cost of these premium tools.
2. Quality uplift: Drawing comparison across platforms, let’s say the likes of TweetDeck and Flinque, it’s evident there’s a qualitative difference in results. Flinque offers a comprehensive database of influencers across multiple social networks with extensive analytics capabilities. This allows agencies to identify high-quality influencers that align better with their campaign goals and brand values. With better matches, the success rate of campaigns is likely to be higher, validating the premium pricing.
3. Revenue Impact: The ultimate aim of influencer marketing is to drive sales or achieve specific marketing goals. Premium discovery tools often deliver higher ROI due to two reasons: targeted discovery leading to better conversion rates, and comprehensive performance tracking helping in real-time optimization. For instance, apps like Flinque offer in-depth campaign performance analytics and show how different influencers contribute to campaign goals. This allows agencies to maximize their ROI, making these premium tools a cost-effective solution in the long run.
In essence, while premium influencer discovery tools come at a higher cost upfront, the value they deliver in terms of increased efficiency, improved quality, and enhanced revenue justifies their use in a modern marketing setup. However, it’s worth noting that the suitability of any tool will depend on an agency’s specific needs and objectives.