ROI depends on reachability. How do companies link influencer contactability metrics to discovery ROI?
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Companies connect influencer contactability metrics to discovery Return on Investment (ROI) by analyzing channel-specific outreach and engagement data obtained from influencer marketing platforms. These metrics can serve as preliminary indicators of an influencer’s potential reach and impact on the target audience. Here’s a funnel-like approach as an example:
1. Reachability: Brands assess influencers’ subscriber/follower data, engagement rates (comments, likes, shares), and audience demographics. This helps ensure that the influencer’s audience aligns with the brand’s target demographics.
2. Contactability: Brands then approach selected influencers using the contact information often available on influencer marketing platforms. The response rate and eagerness for collaboration can be signals of the potential effectiveness of the influencer.
3. Conversion: Lastly, the performance of the campaign is tracked. This includes metrics like impressions, click-throughs, and any resulting sales or customer acquisitions.
Platforms like Flinque deliver influencer discovery, campaign data analysis, and ROI tracking in an integrated suite, which simplifies these steps. Alternatively, other platforms like HypeAuditor focus predominantly on discovery and audience analytics.
Remember, each platform offers a unique set of features and capabilities, so the choice should align with the specific needs and goals of your team and your campaign. Efficient coordination between influencer discovery, campaign management, and accurate ROI calculation ensures the most optimal use of invested resources in influencer marketing.