Winning in influencer marketing is all about strategising for long-term success. Rather than working with whichever influencers are available at a given time, invest the time to research their background, and you’ll build a valuable, lasting relationship. With an arsenal of relevant and dedicated influencers, your brand is certain to shine.
Here at Wearisma, we like to think of a brand’s influencers as a well-rounded team where everyone brings something different to the table. The more we thought about how to pick a winning roster, the more we realised the art of drafting a team isn’t native to the world of marketing.
The likes of the Premier League and the NFL have spent billions sourcing the best talent based on a fine-tuned strategy. What’s more, fans have learned to perfect this craft at home in Fantasy Football leagues. And as many gear up for the upcoming Fantasy Football season, one thing becomes clear: strategy is everything.
Are you keen to build the best of teams? So are we — so we’ve gone to the experts to find you answers. We spoke with Mark Latham, Sports Analytics Manager at Decision Technology. DecTech specialise in helping customers understand their data and provide actionable insight. When it comes to sports, they work with a variety of football teams, using statistical analysis to help them pick the right players. He told us about a model DecTech created to predict how many points a player will score in a given Fantasy Football season. Here’s what we learned.
Build a well-rounded team
In Fantasy Football, the goal is to assemble a dream team using a specific budget, and points are awarded based on performance. But don’t stack your roster with goal-scorers – players of all positions build a winning team. Different positions have different models for success, so a forward might get 5 points for scoring a goal just as a defender might get 5 points for a tackle.
What we learned: Success can be measured differently depending on the skill. Analyse your influencers within the context of their specific talents, background, and position.
Predict a player’s success
In DecTech’s model, any player’s success can be measured based on their past performance, creating a model for what to expect for each player in a given season. Mark explains that “researching and reporting on the number of goals, saves, etc they’ve had in past seasons, an accurate prediction can be made for the future”. When put into context of a budget, it’s possible to work out a player’s value for money.
What we learned: Crunch the numbers on an influencer’s past performance and weight it up against your budget and goals. Use historical data from their social platforms to inform your decisions.
Like any good statistical analysis, DecTech’s model addresses variation – the bit we can’t predict. In the case of Fantasy Football, they analysed the luck component within competition. This accounts for player injuries, retirement and the like – things out of our control – and it’s worth taking into consideration.
What we learned: When planning and budgeting, always remember the luck component. You never know when someone will drop out or move on, and prepare yourself for how to adapt.
Analysing performance over time
Mark stressed the importance of monitoring the performance of players all the time. In Fantasy Football, teams are dynamic, and players are replaced often to optimise success. As new information is gained, Mark explains, strategies are updated to make informed decisions.
What we learned: The strategy doesn’t end when the relationship begins. Keep monitoring your influencers’ output and refine your team over time.
With tips like these, brands can hone the craft of influencer marketing with strategy and agility. Analysing performance over time creates the possibility for decision making that’s tailored to your brand’s success. Once your influencer dream team is assembled, there’s no stopping you!