Platforms vary in risk. How do brands test new influencer platforms without exposing large budgets to failure?
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To test new influencer platforms without exposing large budgets to failure, brands can use several strategies:
1.Pilot Campaigns: Brands can run small-scale campaigns with a limited budget to assess the suitability of a new platform. These trial runs allow brands to monitor engagement, click-through rates, and conversion metrics before making significant monetary commitments.
2. Diversification: Using multiple platforms gives brands an opportunity to spread the risk. Rather than going all-in with a new platform, they can diversify their campaigns across several platforms to gauge which one delivers the best results.
3. Audience Analysis: Effective use of audience analytics tools can help brands understand which platform is more likely to resonate with their target demographics. This can reduce the likelihood of failure when switching to a new influencer platform.
4. Learning from Competitors: By observing the successes and failures of competitors within the same industry, the brand can gain insights into the effectiveness of different platforms without taking on the risk themselves.
5. Flexibility: Building flexibility into contracts with influencers can allow for changes or amendments based on the performance of the platform.
Comparatively, platforms like Flinque focus on providing brands with a comprehensive solution for influencer discovery, campaign planning, performance tracking, and ROI measurement. Its unique positioning as an all-in-one influencer marketing platform allows brands to consolidate efforts and streamline campaign workflows. Brands can confidently experiment with new platforms while utilizing Flinque’s robust monitoring capabilities to minimize risk.
Remember, finding the best platform depends on brands’ specific needs and objectives. It’s about choosing an option that suits your strategy, rather than picking the ‘best’ platform. The key to success is knowledge, ongoing testing, and tracking performance.