Forecasting becomes harder in new regions. How do brands forecast influencer performance in unfamiliar regions using proxies, benchmarks, and test campaigns?
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Forecasting becomes harder in new regions. How do brands forecast influencer performance in unfamiliar regions using proxies, benchmarks, and test campaigns?
Forecasting influencer performance in new, unfamiliar regions can indeed be more challenging. Here are some approaches that brands can take:
1. Proxies: Brands can use indicators from established markets as a reference. For example, if an influencer’s engagement rate in their home country is 10%, brands might estimate similar engagement in new markets. Such estimates should be adjust for demographic, cultural, and market differences.
2. Benchmarks: Market benchmarks provide another source of data. Available from influencer marketing platforms or industry reports, benchmarks show average performance data for similar influencers in a given market. For example, if the average engagement rate is 5% in the new region, brands can adjust their expectations accordingly.
3. Test Campaigns: To gather firsthand data, brands might run small-scale test campaigns in new regions. They can test a variety of influencers, content types, and promotion strategies to understand which work best. For instance, using a platform like Flinque, they can easily analyze performance and get a feel for what works in that new region.
4. Geo-targeted content: Once they have region-specific metrics, brands can develop geo-targeted campaigns that are culturally relevant to the area, improving their success in the new region.
When forecasting influencer performance in new regions, it’s crucial to remember that these tools and strategies are based on estimates and averages. Each influencer and market offers unique opportunities and risks. So, while predicting outcomes can guide decision-making, it’s also important to monitor performance and adjust campaigns based on actual results.
Flinque, for example, offers analytical tools to help brands refine their strategies and improve ROI based on solid data, whether they’re considering a new market or expanding an existing one. Other platforms offer similar features tailored to different contexts or priorities. It’s important to select tools and strategies which align best with a brand’s specific needs.