Demystifying LinkedIn Influence! Everything you need to know to start with Favikon
Before we start, Favikon scores are based on publicly available data and algorithmic processing. While the platform strives for accuracy, these scores are estimates and should be interpreted with a degree of caution. For any concerns or discrepancies, contact them. This post is not sponsored, and I paid the monthly subscription during my test.
Introduction
As a digital product manager and a tech enthusiast, I’m always eager to uncover tools that bring clarity and efficiency to the digital landscape. Recently, I had the opportunity to explore the Favikon scoring system, a sophisticated tool designed to evaluate influencer performance across social media platforms. I was thrilled when I finally discovered a social CRM tailored specifically for LinkedIn. To my knowledge, none of the competitors currently on the market provide such a feature. And honestly, the great UI made the exploration even more enjoyable. Here’s a breakdown of my discovery and insights, focused mainly on LinkedIn.
Understanding Favikon
Favikon is a cutting-edge SaaS platform that provides deep insights into social media content creation. It highlights influential leaders, rising stars, and engaging content across various platforms (Instagram, TikTok, YouTube, X, LinkedIn, Twitch, B2B creators with Newsletters as well as Podcasters). The backbone of Favikon’s evaluation lies in two core metrics, the Social Media Influence Score and the Authority Score, which can be updated in real-time, or at least on demand.
1 — Social Media Influence Score
The Social Media Influence Score is designed to assess an influencer’s impact on individual social media platforms. Rated on a scale from 0 to 100, this score considers three crucial factors:
Audience Size: This metric evaluates the number of followers or subscribers an influencer has on a particular platform.
Account Growth: This reflects the rate at which an influencer’s audience is expanding, providing insights into their potential for future influence.
Engagement Levels: This measures the interaction rate, including likes, comments, shares, and other forms of engagement that indicate active audience participation.
2 — Authority Score
Unlike the platform-specific Social Media Influence Score, the Authority Score provides a holistic view of an influencer’s digital presence. This score is unlimited and aggregates points across all social media platforms where the influencer is active. Key criteria include:
Quantitative Metrics: These include the number of followers, engagement rates, and growth statistics across all platforms.
Qualitative Criteria: These factors assess the breadth of an influencer’s digital presence, such as their activity across multiple platforms, the diversity of their content, and additional ventures like newsletters or podcasts.
The Authority Score ensures a comprehensive assessment of an influencer’s overall impact, making it easier to identify prominent personalities in various industries.
By prioritizing these components, the Social Media Influence Score paints a vivid depiction of an influencer’s efficacy and impact on each platform. Following a discussion with the team, the data sciences department will soon furnish a more comprehensive elucidation of the metrics, that I cannot wait to read to understand some curious variations I observed on my profile.
Please note that, as illustrated below, none of the scores are accessible publicly, even if your profile might be (a good reason to sign up for free on the platform and check).
Regarding the Growth of the last 30 days in the Social Coverage Tab, it is not updated daily. Instead, it is an extrapolation based on available data. The more updates (data points) there are, the higher the relevance will be. As for the update frequency, it depends on several factors, but it is performed at least every 30 days and every 72 hours if the influencer is on a list tracked by one of the Favikon clients.
Real-World Example
Consider the example of Justin Welsh, a top performer on LinkedIn with a perfect score of 100/100. His dominance on LinkedIn is evident with nearly 500,000 followers, high engagement levels, and consistent growth.
However, his influence doesn’t translate as strongly on platforms like Twitter and Instagram. This disparity underscores the importance of platform-specific strategies and tailored content to maximize influence.
You can also check my profile to verify the information above if needed. But, obviously, you will find the opposite on other profiles, for example take a look on the Favikon profile of Bill Gates.
Use-Cases
Here are some of the Favikon use-cases:
- Social Media Watch
- Content Creation
- Employee Advocacy
- Employee Positioning
- Politics & Social Listening
- Competitor Analysis
- Creator Analysis
- B2B Influencer Marketing
- B2C Influencer Marketing
In today’s digital world, influencer marketing is key, social media monitoring tools keep users in tune with trends, while content creation drives engagement. Employee advocacy programs turn staff into brand champions, and in politics, social listening tools inform campaign strategies. Lastly, competitor analysis helps stay ahead in the market.
Above is an example of identifying all the relevant brands for a specific social network, their influences, the ability to fine-tune the filters, and much more. Together, these tactics form a powerful marketing arsenal for any business.
Leveraging Favikon Scores for B2B Marketing
Favikon’s metrics are particularly valuable for B2B marketing, where selecting the right influencers can significantly impact campaign success. Here’s how businesses can leverage these scores:
Precise Targeting: By understanding an influencer’s performance on specific platforms, businesses can align their marketing efforts with platforms where their target audience is most active. One capability that LinkedIn should be jealous of in 2024 is the ability to clearly filter LinkedIn Top Voices by country and more.
Strategic Partnerships: The Authority Score helps identify influencers with a broad and impactful digital presence, ensuring collaborations that drive meaningful engagement.
Optimized Campaigns: These insights allow for the creation of tailored marketing strategies that leverage the strengths of selected influencers, enhancing overall campaign effectiveness.
Favikon — Next steps
The firm is now well-known for their rankings, such as the “Top 10 LinkedIn Influencers in Switzerland”. But Favikon is apparently not yet known enough for their core sourcing technology, which is where their paid target audience lies (brands, CMOs, influencer marketing managers, etc.). There is a possibility that in a near future, Jeremy Boissinot, Joni Shkurti, and the rest of the team will focus on this to elevate the platform. I highly advise you to follow them on LinkedIn to stay up to date.
Conclusion
Favikon’s scoring system offers a nuanced and detailed evaluation of influencer performance, providing invaluable insights for influencers, creators, and marketers. By utilizing these metrics, businesses can make informed decisions, forge impactful partnerships, and navigate the complex world of social media influence with greater confidence and precision. As a product manager and a creator, I enjoyed spending some time navigating the only SaaS Social Media CRM with a LinkedIn dimension. This tool was precisely what I was looking for, even if the pricing is a bit high for standard daily users.
I would love to see a more affordable creator plan and a freemium model for enthusiasts like me to own and improve your data. In the future, adding additional social networks like Medium, or development platforms such as GitHub and Hugging Face, might also be a great idea. For more information and to explore the full potential of Favikon’s insights, visit their website.
Embark on your journey to harness the power of AI and data with Favikon, and transform your approach to influencers marketing on LinkedIn or any other social platforms!
Update : in September 24 Favikon launched https://creator.favikon.com
