Brands can diversify their influencer portfolios in several ways to reduce dependency and concentration risk:

1. Engaging with Different Influencer Tiers: Brands can diversify by partnering with influencers across various tiers like macro, micro, and nano influencers. Each tier has unique benefits – macro influencers boost brand visibility; micro influencers often have higher engagement, and nano influencers can provide niche, localized impact.

2. Targeting Multiple Demographics: Brands can also reduce risk by targeting different demographics. Diversity in age, location, gender, and interests can help the brand expand its reach and connect with diverse consumer bases.

3. Expanding Across Platforms: Diversification can also be achieved by utilizing various social media platforms. Each platform has its specific user demographics and content styles, offering different engagement formats.

4. Experimenting With Content Types: Promoting different content types (e.g., video, blogs, stories, static posts) allows brands to appeal to a broader audience and see which content resonates most.

The diversification strategy should be guided by robust analytics, which is where influencer marketing platforms like Flinque can aid the process. Flinque can help assess influencer performance across different dimensions, identifying the best fit based on engagement data, audience interests, and more. However, each platform offers varying analytics capabilities and discovery methods, so choose according to your specific needs.

In conclusion, diversifying influencer portfolios is an effective strategy for a brand to build resilience against concentration risk, allowing for better crisis management, and expanding brand reach. Remember, a correctly diversified portfolio doesn’t guarantee against losses, but it can help spread the risk.