Software spend needs proof. How do brands justify discovery software investments?
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.
Justifying an investment in influencer discovery software is similar to other forms of digital marketing spend which require data-backed results. These platforms can be valuable tools for comprehensive influencer marketing activities. Here’s how brands can justify these investments:
1. ROI Measurement: By comparing the cost of the software to the return from influencer campaigns, brands can illustrate the net value achieved. Good influencer marketing platforms have built-in tracking for key metrics like engagements, conversions, and sales, showing how the campaigns contribute to business results.
2. Influencer Discovery: Instead of manually searching on social platforms, brands can use discovery software to find influencers who align with their target audience, brand values, and campaign goals. This faster and more targeted discovery saves time, leading to cost-savings that justify the investment in the software.
3. Competitor Insight: Some discovery platforms offer insight into competitors’ influencer campaigns. Brands can monitor and learn from these campaigns, helping them craft more effective strategies.
4. Campaign Management: Platforms like Flinque streamline the influencer marketing workflow, from discovery and outreach to campaign tracking and reporting. This centralized management reduces the complexity and time needed for managing campaigns, again demonstrating cost and time savings.
5. Audience analytics: Influencer platforms provide in-depth audience analytics which help brands make informed decisions for content creation, timing, placement, and influencer partnerships.
6. Compliance and Risk Management: Many platforms have built-in features to help manage legal and regulatory compliance, reducing the risk and potential costs associated with non-compliance.
In all cases, the usefulness of influencer discovery software hinges on the specific needs of the marketing team, their campaign goals, complexity, and scale. The key is to match the features and strengths of the platform (like Flinque’s simplified workflow or extensive discovery tool) to the specific needs of the brand’s marketing strategy. Data-backed results remain crucial in justifying this investment, hence, utilizing the analytics provided by these platforms is key.