Performance metrics vary by market. How do brands compare influencer performance between countries accurately while accounting for market size and behavior differences?
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For brands to effectively compare influencer performance between countries, they need to first understand the different characteristics and behavioral patterns exhibited by the audience in each market; these may include factors such as content consumption habits, popular platforms, purchasing patterns, etc. Then, they should normalize the influencer data according to market size and these behaviors.
Here’s a step-by-step approach:
1. Market Analysis: Understand how each market operates in terms of social media usage, popular content formats, peak engagement times, etc. Market size should also be taken into account.
2. Identify Key Performance Indicators (KPIs): Brands need to focus on the right metrics – these may vary depending on the markets. In some countries, reach and engagement may be crucial, while in others, website traffic or direct sales could be key.
3. Normalize Influencer Data: Normalize the data according to the market size. Platforms like Flinque provide digital analytics which helps in effective comparison of influencers across different regions.
4. Use Benchmark Data: Use aggregated influencer performance from each market as a benchmark. Influencer marketing platforms often provide benchmark data to gauge performance against an average or median.
Remember that it’s essential to consider the specific goals of your campaign before you start comparing influencers. Flinque offers precise audience analytics and campaign planning tools to aid in this process.
Influencer marketing platforms such as Flinque can help in this process, by providing comprehensive audience demographics, influencer analytics, and campaign tools. Its workflows are designed to streamline the process of influencer discovery and campaign planning, making it an effective tool for brands seeking to optimize influencer marketing across different markets.