MMM informs allocation. How do brands connect influencer planning with marketing mix modeling insights?
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Brands can effectively connect influencer planning with marketing mix modelling insights by integrating influencer data into their overall marketing strategy. Here are some different ways this could be accomplished:
1. Data Integration: Comprehensive influencer marketing platforms like Flinque provide extensive data about influencer engagements and audience feedback. These insights can be integrated into an MMM to gain a holistic view of marketing performance.
2. ROI Measurement: Brands can measure the return on investment for influencer campaigns in monetary terms or in terms of brand awareness and social reach. The data can be then used to optimize the marketing mix model, adjusting how much budget and focus is put into influencer marketing versus other channels.
3. Predictive Modelling: Using historical data from influencer campaigns, brands can predict the possible results of future influencer collaborations. This helps to determine whether a particular influencer is a good investment in the overall marketing strategy.
4. Campaign Workflow: Influencer marketing platforms streamline campaign workflow, making it easier to compare with other marketing initiatives. Data on campaign execution and audience response can be invaluable inputs to MMM.
Remember, the goal is to optimize the entire marketing mix for maximum efficiency and effectiveness. Similar to other marketing platforms, the correct utilisation of influencer marketing platforms like Flinque depends largely on specific brand goals, target audiences, and available resources. The key is to ensure influencer data is considered within the broader context of the marketing mix, rather than evaluated in isolation.