Digital marketing is a crazy topic in 2018. Never has there been more places to spend your marketing budget online. The first thing that every business looking to push conversions online needs to do is understand that the only thing that matters is tangibility. Can you say hand on heart that you know, which strands of marketing are bringing in which sales/clients and what is exact ROI on that marketing spend. Follow this step prior to trying something new.
Before we get into the details on influencer marketing and its values, we wish to take a moment to state that there is no magic bullet and every marketing effort comes back to hundreds of factors for levels of success. Make sure you trust you trust your digital agents and do your homework on what value they offer your business.
To explain the main method of influencer marketing we have been strategising with our clients we will write an example below.
I run a business selling teeth whitening products direct through ecommerce. I have engaged a few famous influencers on instagram and blogs that have around 50,000 engaged followers or more. From here we supply the influencer with free product to try and rate.
Following the influencer rating the product and agreeing to endorse it, I supply them with a link to sales page on my website with a discount setup. The influencer can now post to all his/her followers explaining how great the product is and how they have a discount for them. All sales generated from this link will be tracked and the influencer will get a small cash kick back on each unit sold.
This method can be used in many other ways, not just the method used in this example. The question is, can this be applied to my business?
Influencer marketing can be one of the most powerful and cost effective forms of marketing out there. Certain products and services suit this marketing stream depending on whether they can:
- Provide a kick-back/commission to the influencer per sale or conversion.
- Easily track each sale based on the source of the referral.
- Attain influencers/partners that feel passionate enough to trust your brand alongside theirs.
To really get the most out of influencer marketing you really need a minimum of two of the previous three elements. If you wish to personally dig a bit deeper into how influencer marketing could work for please feel free to book in a phone call or a consult with one of the friendly team here at Vulcan Digital.