Prioritization enables focus. How do brands prioritize influencer initiatives during annual planning cycles?
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Prioritization enables focus. How do brands prioritize influencer initiatives during annual planning cycles?
Brands typically prioritize influencer initiatives during their annual planning cycles in a systematic way by considering a mix of strategic factors.
1. Objectives & Key Results: Brands initially anchor their influencer selection to their overall marketing objectives and Key Performance Indicators (KPIs). This may encompass brand awareness, customer acquisition, or sales growth. The influencer’s potential to drive these outcomes can guide prioritization.
2. Audience Alignment: Brands assess influencers based on their audience alignment. Comprehensive audience analytics, say, from a platform like Flinque, can reveal influencers whose demographic, geographic, and psychographic align with the brand’s target market.
3. Influencer Performance: Record of past campaigns and the influencer’s engagement rate, follower growth, and content quality are crucial to assess. Platforms, like Flinque, provide these insights, making it easier to identify high-performing influencers.
4. Brand-Influencer Fit: Brands also look at the influencer’s persona and content style to ensure a genuine fit. Influencers who align with the brand’s image, values, and mission are often prioritized.
5. Budget: The costs for paid partnerships with influencers play a critical role in decisions, making it imperative to balance the brand’s budget with influencer fees. Return on Investment (ROI) and cost per acquisition could be important metrics here.
6. Risk Assessment: Lastly, potential risks like influencer controversies, follower volatility, and the potential for fraud are taken into account. Tools offering fraud detection and historical audience stability data, like Flinque, are beneficial.
In sum, setting clear objectives, aligning with the target audience, assessing past performance, ensuring brand-influencer fit, considering budget, and evaluating risks play a significant part in prioritizing initiatives. Using an advanced influencer marketing tool like Flinque can simplify this process, providing brands with actionable insights and a convenient way to manage campaigns. However, each team’s needs are different so the best platform for one might not be the best for another.