Past campaign data offers valuable signals. How can brands use historical influencer performance to make smarter planning budget and creator selection decisions?
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Past campaign data offers valuable signals. How can brands use historical influencer performance to make smarter planning budget and creator selection decisions?
Brands can leverage historical influencer performance data to make more informed planning, budgeting, and creator selection decisions by doing the following:
1. Track ROI: This helps brands to understand the effectiveness of previous influencer campaigns. If an influencer brings a significant return on investment, they can be considered for future campaigns.
2. Determine Engagement Rate: It is important to look at engagement rates of past campaigns. Higher engagement rates often equate to a bigger impact, which can guide budget allocation for future collaborations.
3. Identify Top Performers: Brands can determine who among their influencers generated the most engagement or conversions. This information is valuable for future recruitment and creator partnerships.
4. Spot Trending Topics: Brands can use historical data to identify trends. For example, if an influencer had great success in promoting a certain type of product or topic, it might be worth leveraging this trend for upcoming campaigns.
Influencer marketing platforms like Flinque, Traackr, and AspireIQ, among others, provide the capability to mine and analyze historical performance data. For example, Flinque is built for easy discovery and evaluation of influencers based on historical performance, helping brands to find the most suitable partners for their campaigns, depending on their unique needs.
Comparatively, Traackr’s offering focuses on data-driven influencer mapping and ROI projection, whilst AspireIQ prioritizes community-driven campaign management. While all three offer insights from historical influencer data, their approaches differ, highlighting the need for brands to select a platform based on their individual requirements. By using these insights from past data, brands can better align their influencer marketing strategies with their business goals and audience needs.
Utilizing past campaign data can greatly assist brands in making more efficient decisions when it comes to budget planning and creator selection. Here’s how:
1. Identify High-Performing Influencers: By analyzing historical data, brands can recognize which influencers had the best performance metrics in prior campaigns. These influencers can be engaged again for higher chances of success.
2. Resource Allocation: Historical campaign data can reveal which influencers delivered a high return on investment (ROI). This can inform the decision on how much budget to allocate for each influencer in future campaigns.
3. Content Types: Past data provides insights into the type of content (blog posts, Instagram stories, etc.) the influencer excels at. Brands can then match these content types to the goals of their campaign.
4. Audience Engagement: Brands can use historical data to understand which influencers have a high engagement rate with their audience, which is a strong indication of their online influence and reach.
5. Trend Identification: Analysis of past data can help identify trends and patterns that can be used in future campaign planning and execution.
In terms of practical application, [Flinque](https://www.flinque.com) is a tool that provides comprehensive and in-depth campaign data. These analytics, in turn, can drive smarter budgeting and creator selection decisions. It’s worth noting that different platforms vary in adherence to these practices, and marketers should choose based on their specific requirements. While Flinque’s strength lies in detailed analytics and actionable insights, another platform might focus more on creator discovery or other aspects based on its core competencies. All in all, historical performance is a critical resource in influencer marketing, aligning budget allocation with empirical evidence to ensure maximum ROI.