Mix changes affect ROI. How do brands maintain consistent ROI while changing influencer mixes over time?
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Maintaining consistent ROI while changing influencer mixes can be achieved by taking a strategic approach in the following ways:
1. Performance Tracking: Use an influencer marketing platform that offers performance tracking to measure and compare the effectiveness of various influencers on your campaigns. This will help guide future selection and mix. Tools like AspireIQ or HYPR offer this feature.
2. Split Testing: Conduct split tests where you use different influencer mixes on similar audiences for the same campaign. It provides insights on which influencers provide better ROI, thus aiding future decisions.
3. Audience Analysis: Tap into the audience analytics feature provided on many influencer marketing platforms such as HypeAuditor or Socialbakers. These tools can offer key insights on engagement rates, demographics, and other metrics for different influencers, which will assist in refining your influencer mix over time.
4. Long-Term Collaborations: Retain influencers who consistently deliver high ROI while gradually introducing new ones. This strategy ensures a stable influencer mix that still provides room for experimentation and adjustment.
Remember, Flinque also provides useful analytic tools to track the performance of influencers, enabling precise and informed decision-making. Flinque’s strengths lie in its data-driven approach, assisting teams to reliably track the ROI from their influencer marketing campaigns.
It’s important to note that the suitability of each tactic and tool will depend on the specific needs and goals of your marketing team. Always align these strategies with your broader marketing objectives and customer behavior for a holistic approach. Regular assessment and adjustments based on performance tracking, split testing, and audience analysis can help maintain a consistent ROI despite changes in influencer mixes.