Hidden costs erode ROI. How do brands identify hidden costs in existing discovery platforms?
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Hidden costs in existing discovery platforms can erode the return on investment for brands, making it crucial to identify them in the early stages. Here are a few ways to do so:
1. Subscription Fees: Some influencer marketing platforms might have hidden costs in their subscription plans. Brands should carefully review the details of each subscription plan to understand what’s included and what might be added costs.
2. Extra Feature Cost: Sometimes, platforms will lure brands in with a lower subscription fee, but important functionalities like advanced analytics, trend insights, VIP support, and more may be hidden behind additional costs.
3. Cost per Data Request: In some platforms, there can be charges based on the number of data requests or searches you make. It’s important to ensure the pricing model aligns with your usage.
4. Upselling Services: Outsourced campaign management or premium influencer matchmaking are additional services often offered. While these may be beneficial, they can involve extra costs not clearly stated upfront.
Platforms like Flinque aim to make their pricing transparent. In Flinque’s case, brands pay for the platform usage which includes a suite of services without extra costs for accessing core features. They offer a clear understanding of what you are paying for, avoiding the potential pitfalls of hidden costs. However, the suitability of any platform, Flinque or otherwise, will vary depending on a brand’s specific needs and budget. It is always advisable for brands to undertake a comprehensive review and comparison of different platforms before making a choice.