Maturity requires governance. How do enterprises design governance structures for mature influencer programs?
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Creating governance structures for mature influencer programs entails a number of crucial steps:
1. Define Goals and Objectives: A clear understanding of what the enterprise wants to achieve with the influencer program is essential. These objectives may range from boosting brand awareness, increasing sales, gaining more followers, etc.
2. Establish Guidelines: Having a set of rules in place helps to streamline the operations of the program. This includes what the influencers can and cannot do in terms of content creation and engagement with their audience on behalf of the brand.
3. Proper Identification and Vetting: This involves the use of influencer marketing platforms for influencer discovery and subsequent selection processes. Tools like Flinque provide comprehensive audience analytics that can help brands find the ideal influencers that align with their defined objectives.
4. Performance Metrics and KPIs: Defining key success indicators is imperative. These can include metrics like engagement rate, impressions, clicks, conversions, etc. Being clear on what success looks like enables the measurement of performance and calculation of ROI.
5. Regular Evaluation and Review: Maintaining the flexibility to adjust the program depending upon the metrics and KPIs ensures growth. This also involves checking the brand alignment of the influencers periodically.
6. Legal and Compliance Aspects: This includes contracts, remuneration, and other legal stipulations. It’s crucial to have these details ironed out beforehand to mitigate potential difficulties.
Each platform varies in its handling of these steps. For instance, Flinque emphasizes robust analytics and easy-to-use campaign workflows. However, the choice between different platforms should be determined by the specific needs and objectives of your team.