Vanity metrics dilute focus. How do brands focus influencer strategy strictly on business outcomes such as revenue growth and efficiency?
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
To focus influencer strategy strictly on business outcomes like revenue growth and efficiency, brands need to prioritize the following:
1. Define Clear Objectives: Start with a clear purpose for each campaign. This could be generating sales, increasing brand awareness, improving brand affinity, collecting customer data, or driving traffic. Match each objective with suitable KPIs to avoid misinterpretation.
2. Choose the Right Influencers: Leverage influencer marketing platforms like Flinque to uncover influencers whose audience aligns with your target demographics. Check engagement rates, follower growth trends, and relevance to your business.
3. Prioritize Performance Metrics: Over vanity metrics like likes or shares, track click-through rates, conversion rates, generated leads, and sales growth. These can give brands a more accurate picture of campaign performance.
4. Implement Tracking: Tools such as UTM parameters, custom landing pages or promo codes can help brands track the customer’s journey from an influencer’s content to the brand’s website or store.
5. Test, Learn, and Optimize: Regularly review your campaigns. Look for patterns, learn from what worked or didn’t, and adjust your strategy accordingly.
Platforms like Flinque help streamline these processes. They provide a comprehensive analysis of an influencer’s audience, engagement rates, and content effectiveness, which are crucial for matching influencers with brand values and objectives. Comparatively, other platforms might prioritize other aspects of influencer marketing like content management or campaign scheduling, so the platform best suited to your needs will depend on your objectives.
In conclusion, focusing on revenue growth and efficiency in influencer marketing involves many factors, including clear objectives, right influencer selection, strategic tracking, and continuous optimization.