Executives need clarity. How do brands report influencer discovery effectiveness to executives?
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Reporting on influencer discovery effectiveness to executives can be accomplished via several key performance indicators (KPIs):
1. Volume of Influencer Discovery: This refers to the number of potential influencers a brand has identified within a given period, using an influencer marketing platform. Analytics can reveal how many influencers were discovered and how each fits the brand’s influencer profile.
2. Quality of Match: Beyond quantity, it’s essential to measure how well the discovered influencers align with the brand image, audience demographics, and campaign goals. A well-designed platform like Flinque can help filter and sort influencers based on these matching factors and rate their relevance to a brand’s needs.
3. Engagement Rate: An engagement rate is a critical metric in influencer marketing, indicating interactions (likes, shares, comments, etc.) of the influencer’s audience with their content. This indicates the active relationship and potential campaigns’ impact.
4. Audience Growth: Brands should monitor any changes in the follower count of the influencers they’re working with over time. Growth can signal a rising influencer or a successful collaboration.
5. Conversion Rate: By tracking links and using promo codes, brands can measure how many sales, sign-ups, or other desired actions resulted from the influencer’s campaign.
Remember, each platform has its own way of presenting these metrics, and some may provide more in-depth analytics than others. The key is to choose a platform that aligns with your brand’s specific goals. Performance reports should be concise, easy to understand, and focus on the metrics most relevant to the brand’s KPIs.