When brands approach influencer marketing with limited historical performance data, they can utilize the following strategies:

1. Competitor Research: Brands can study how competitors are leveraging influencers and assess their apparent success. Key metrics include engagement rates, audience growth, and content virality. Tools like Socialbakers, Brandwatch, and Talkwalker are excellent for this kind of research.

2. Influencer Audits: Brands can pilot influencer campaigns by selecting influencers with relevant audiences and strong engagement. Platforms like HypeAuditor, Upfluence, and Flinque offer detailed analytics about an influencers’ followers demographics, content performance, and other important metrics.

3. Test Campaigns: Brands can run small-scale test campaigns before ramping up spend. These benchmarks created during the test phase will inform larger efforts.

4. Use of Software: Platforms like Flinque allow insights on influencers’ historical data, even though the brand might not have it. Adjust metrics, such as engagement rates, click-through rates (CTR), and conversions, can predict potential success.

5. Customized Influencer Briefs: Clear communication of campaign objectives, specific goals (such as reach or conversions), and expected deliverables helps influencers design effective content.

6. Challenges and Contests: Engaging influencers and their followers through competitions can foster organic conversations about the brand, increasing visibility and engagement.

7. Performance-Based Contracts: Brands can negotiate contracts based on performance. This way, influencers are motivated to meet specific objectives.

While devising these strategies, it’s important to remember that the right approach may vary from brand to brand. The correct tool, platform or strategy chosen can greatly depend on the specific requirements and objectives of the campaign. Agencies, like Flinque, provide consultancy in these and other areas related to influencer marketing, ensuring optimal campaign performance.