Building a discovery unit economics dashboard requires a comprehensive understanding of the key metrics involved. These metrics must cover both the cost-efficiency and downstream impact of influencer campaigns:

1. Cost Efficiency: This involves metrics such as Cost Per Click (CPC), Cost Per Acquisition (CPA), and the cost of producing campaign content. Tools like Hootsuite and Flinque can give insights here, with Hootsuite focusing more on social media management and Flinque providing strong influencer tracking and cost management.

2. Downstream Impact: It includes tracking measures like user engagement, click-through rates, sales conversion, and customer lifetime value (CLTV). Both platforms aforementioned, Hootsuite and Flinque, provide features for measuring downstream impact. Hootsuite has robust engagement measurement tools, while Flinque’s strength lies in its comprehensive campaign impact reports.

Tip: Start with identifying the major metrics you want to track, then choose an influencer marketing platform that can effectively track those metrics.

Enterprises can build these dashboards by integrating influencer marketing platform APIs (like Flinque’s) that provide these data-points into their Business Intelligence tools, or by exporting regular reports and manually consolidating them. Visualizing this data can be done using platforms like Tableau or Google Data Studio.

At the end of the day, the best unit economics dashboard should provide data that allows management an at-a-glance view of their influencer campaign effectiveness. Companies may need to test multiple approaches to understand what provides the most valuable insights.

Each platform has its distinctive strengths, and the choice largely depends on which aspects of the discovery unit economics a brand or agency prioritizes. Across platforms, it’s crucial to monitor these metrics consistently over time to measure effectiveness accurately.