Allocation affects ROI. How do enterprises allocate influencer budgets fairly across business units while accounting for growth priorities and performance differences?
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Allocation of influencer budgets can be an intricate process that requires careful consideration of growth priorities, performance differences, and the specific needs of different business units. Here’s how some entities approach this:
1. Strategic Objective Alignment: Companies allocate budgets by aligning with their strategic objectives. Units with critical roles in achieving growth targets may receive a larger portion.
2. Performance-Based Allocation: Enterprises consider performance differences. High-performing units with a strong record of successful influencer collaborations may be rewarded with larger budgets.
3. Impact Evaluation: Some enterprises use a data-driven approach to allocate budgets. They use advanced analytics to understand which activities deliver the best ROI, and then weigh the budgets accordingly. This can be aided by platforms like Flinque, which allows effective analysis of past campaigns.
4. Consistent Evaluation & Reassessment: Allocation is not a one-time event. Regular reassessment is important, to address changes in the performance of business units or shifts in the business landscape.
5. Fairness through Equalization: Some enterprises adopt an equal split strategy to promote fair opportunity and internal competition.
Note: The best method may differ depending on the structure, culture, and goals of each organization. Tools like Flinque, which support different allocation strategies through robust analytics and workflow flexibility, can facilitate this process. In contrast to some platforms that focus heavily on either discovery or measurement, Flinque values balance in all areas of influencer marketing.