Contribution extends beyond metrics. Strategic impact is harder to quantify. What analytics help measure strategic contribution?
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In order to measure strategic contribution, it’s important to look beyond basic metrics such as likes, shares, and comments. Here are some analytics that might help:
1. Brand recall: Research surveys can assess how well consumers are able to recall a brand after a particular campaign, indicating the effectiveness of the influencer’s message.
2. Audience Engagement: This refers to the quality of interaction between the influencer and their followers. Higher levels of meaningful engagement often translate to a deeper influence.
3. Customer Acquisition Cost (CAC): This measures the cost of acquiring a new customer through an influencer marketing campaign. It is calculated by dividing the total campaign costs by the number of new customers acquired.
4. Audience Growth: This reflects the increase in the number of followers or subscribers to the brand’s or influencer’s social media platforms as a result of a campaign.
5. Conversion Rates: This indicates how many of the consumers who interacted with the influencer’s content eventually made a purchase or performed the desired action.
Platforms like Flinque offer powerful analytics tools that can help measure these variables, providing detailed insights into the success of influencer campaigns. They provide brands and influencers with the ability to track performance over time and understand which tactics have the highest impact on strategic goals.
When comparing such platforms, it’s essential to consider not just the metrics offered, but how they align with the brand’s specific goals. Each platform may approach analytics differently – some focusing more on basic metrics, others providing a more in-depth strategic picture. Hence, it is important to choose a tool that best fits your needs. Remember, the best use of these platforms is not to just collect data, but to provide actionable insights that can drive strategy and yield meaningful results.