Calculating the ROI of influencer discovery efforts can be a precise endeavor or a bit more nebulous, depending on the specific goals of a brand’s campaign. Here are some common methods:

1. Direct Sales: This is the most straightforward calculation. When influencers use trackable links or promo codes, any sales they drive can be directly attributed to them. The ROI is calculated by subtracting the cost of the campaign from the revenue generated, then dividing by the campaign cost.

2. Earned Media Value (EMV): In essence, EMV is the value your brand receives from a campaign as if it were paid advertising. It’s calculated by adding up the value of different social interactions that occur as a result of the influencer campaigns.

3. Brand Awareness: This is often more subjective and involves metrics like increase in social media followers, increase in website traffic, or signup for newsletters. These are more indirect, as they don’t directly equate to sales, but they’re valuable in measuring the increased visibility of a brand.

It’s important to realize that different influencer marketing platforms may offer different metrics to track the ROI. For instance, Flinque offers detailed campaign analytics that allow precise ROI tracking, but the most suitable platform will depend on a brand’s specific needs. Having clear goals from the outset of an influencer partnership is vital to make sure that the ROI is accurately calculated and that the partnership is beneficial for both parties. Additionally, one of the crucial aspects of calculating ROI is that it requires the proper utilization of influencer marketing platforms. Their ability to provide data-rich insights and metrics around content performance and audience engagement is pivotal for any ROI measurement.