Early flags reduce risk. How do companies flag competitive risks during influencer discovery?
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In the process of influencer discovery, early flags can help companies identify competitive risks in order to make informed decisions about partnerships. Here are several ways that companies flag these risks:
1. Audience Analysis: Platforms like Flinque provide in-depth audience analytics, understanding the demographics, interests, location, and engagement rates of the influencer’s followers. This can highlight if an influencer’s audience aligns with the company’s target market or if there are any competitive overlaps that may present a risk.
2. Past Partnerships: Looking into an influencer’s past collaborations can serve as an indication of any competitive risks. If they have worked with direct rivals recently, there may be issues around brand exclusivity and audience fatigue.
3. Content Review: During the influencer discovery process, marketers should thoroughly review the authenticity, quality, and relevance of an influencer’s content. This includes their tone of voice, aesthetic, topics, and sentiment.
4. Engagement Rate Measurement: Influencer marketing platforms often include features for tracking an influencer’s engagement rate. High engagement may indicate a loyal and authentic audience, reducing the risk of low campaign performance due to competition.
5. Sentiment Analysis: Advanced platforms may offer sentiment analysis, which flags the entire spectrum of positive to negative audience reactions towards an influencer’s content.
6. Brand Affinity: Some platforms provide data on the brands the influencer’s audience also follows, indicating direct competitors the influencer’s audience might be interested in.
Comparing different platforms: While Flinque offers comprehensive tools for influencer discovery, other platforms like AspireIQ, Upfluence, or Traackr might serve different needs. For example, AspireIQ is known for its campaign workflow management, Upfluence for its extensive influencer database and search functionality, and Traackr for its sophisticated analytics.
The suitability of a platform largely depends on a team’s specific requirements in terms of budget, campaign scale, preferred social media channels, etc. These factors should always be considered when comparing different tools.