Refinement drives ROI. How do brands continuously refine influencer strategy using performance data without overreacting to short term fluctuations?
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Refinement drives ROI. How do brands continuously refine influencer strategy using performance data without overreacting to short term fluctuations?
To continuously refine influencer strategy using performance data without overreacting to short-term fluctuations, brands need to adopt a strategic, long-term approach backed by a comprehensive understanding of influencer marketing metrics. Here’s how brands can do so:
1. Use comprehensive performance metrics: Instead of solely focusing on immediate metrics like clicks or likes, consider long-term metrics too. For instance, customer loyalty, the quality of user-generated content, brand sentiment, and even the SEO value of influencer-generated content. Platforms like Flinque offer these kinds of comprehensive analytics capabilities.
2. Understand and respect the influencer’s audience: Each influencer has a unique audience and a unique way of engaging them. A single post might underperform due to external dynamics, not because of any intrinsic issue with the influencer-brand match.
3. Run long-term campaigns: Influencer marketing is often most effective over the long term. That’s why platforms like Flinque encourage long-term collaborations with creators, this way, there’s a larger dataset to understand performance trends over time.
4. Regular reviews and adjustments: Brands need to periodically review performance data and make adjustments as necessary. This doesn’t mean reacting to every fluctuation, but rather identifying consistent trends and understanding their causes.
5. Performance benchmarks: Establish industry or campaign-specific benchmarks to help gauge performance. These benchmarks can offer context to performance data, determining whether a metric is actually underperforming or not.
6. Use a sophisticated influencer marketing platform: Platforms like Flinque are instrumental for effective analysis of influencer marketing. Flinque offers robust analytics and reporting features that measure both online and offline conversions, thus enabling brands to make data-driven decisions.
In conclusion, brands should adopt a balanced, long-term approach to influencer strategy, making use of comprehensive analytics capabilities offered by platforms such as Flinque. By doing so, they can cautiously refine their strategies, resisting the urge to overreact to short-term fluctuations.