As the saying goes: “There’s no better time to take action than now.” This phrase fits perfectly with your early preparations for Q4, which is right around the corner

Why is Q4 so important? For e-commerce in general and for Influencer Marketing in particular, it is the time of the year when most profits are generated.

Want to see this in action? Continue reading to understand how we generated such promising results for our client by leveraging Influencer Hero and Influencer Marketing - making $448K during Q4 and generating over $34K in a single day!

Making $414K+ Total Sales & $35K Revenue in a Day
Making $414K+ Total Sales & $35K Revenue in a Day

US Marketplace Expansion: Identifying Performing Influencers

Our esteemed client hired us to assist them with their US marketplace expansion. After extensive research, we took the following steps:

  • Shopify Store Setup: Set up a separate Shopify store for the US (it wasn’t required, but the client preferred to use a country-specific domain).
  • Starting Early: We started in January 2022 and consistently worked with 50-100 influencers/month. Working on gifting campaigns allowed us to keep the cost low while identifying performing influencers. 
  • Welcomed top-performing influencers to our brand ambassador program.
  • Invited all influencers to our BFCM campaign and maximised posts by closing packages with top-performing influencers early. 

One of the most crucial steps is to identify your top-performing influencers. By doing so, you will be able to focus on the influencers who really move the needle. 

Read: A detailed guide on How to Identify and Find Performing Influencers here

Once you have identified your performing influencers, you need to organise your seasonality campaign. In this case, your BFCM campaign

Read: A detailed guide on Organising Seasonality Campaigns here

With your top-performing influencers, make sure to close packages, e.g., 4 posts for $1K, in order to lower your cost and get the commitment. Affiliate deals are great if the influencer doesn’t perform but get expensive if an influencer performs well.

Influencer Marketing & Seasonality Campaigns

From the chart above, you can see that prior to the BFCM campaign, there was barely any activity. With influencer marketing, your biggest returns are generated during seasonality campaigns. Why does this work well? 

  • It gives customers a reason to buy. A standard highlighting the benefits of your product is good for brand awareness. Plus, if you want to convert customers, give them a reason to buy. A good offer is what makes a customer decide to take action now. 
  • Show Urgency: as it is a special offer, the customer should know it is limited.
  • Scarcity: Sprinkle in some scarcity, and customers will buy out of FOMO.

As the marketer, it is your responsibility to communicate this to the influencers you work with, which in turn will communicate the message to their followers. Your influencers will become the voice of your brand! 

Your Influencers Matter as Much as Your Customers

Make sure to not only think about your customers but also put a lot of focus on your influencers. Let them feel special. Thoroughly explain to them that the offer is only offered to certain partners and let them feel special by becoming a part of this campaign. 

Once the campaign goes live, make sure that all your codes are activated. Before you sit back and watch the orders come in, make sure to follow up and send reminders to your influencers a day before the campaign to maximise posting rates.

Increase in Online Store Conversion Rate Through Influencer Marketing & Seasonality Campaigns
Increase in Online Store Conversion Rate Through Influencer Marketing & Seasonality Campaigns

 

It’s clear how customers poured right into our client’s Shopify store, raising the conversion rate to 2.99%. The average store conversion rate during the year was between 1% - 1.5%. With a strong Black Friday offer of 30% and communicating scarcity through the influencers, we 3X’d the usual store conversion rate. More than 13K people reaching the checkout section shows why choosing the right influencers and making the right deals can turn in huge profits. 

Total Online Store Sessions (123K+) from Oct-Dec 2022
Total Online Store Sessions (123K+) from Oct-Dec 2022

On 25th November 2022 (Black Friday), we instructed most of our influencers to post at once. Through this, we generated almost 6K clicks which resulted in 35K revenue in a single day!  

Making $414K+ Total Sales & $35K Revenue in a Day
Making $414K+ in Total Sales & $35K in a Day
Consistent Average Order Value (AOV) Through Oct - Dec 2022
Consistent Average Order Value (AOV) Through Oct-Dec 2022

The customers’ AOV (Average Order Value) consistently stayed around $120. One point to consider here is that some people purchased multiple items for gifts. However, the increase in AOV was evened out because of the 30% Black Friday discount we had offered. 

Q4: 2022 - Revenue Contribution by HP, MP, & GP
Q4: 2022 - Revenue Contribution by HP, MP, & GP

The chart above shows that our High-Performing (HP) influencers were the reason for the majority of the sales (71.4%) during the BFCM campaign, followed by sales generating from our Medium-Performing (MP) influencers (16.8%), and then our General-Performing (GP) influencers racking in 11.8% of sales. 

This categorisation between HP, MP and GP is done prior to the BFCM campaign. By having the influencer post before the big campaign, we know in advance how many conversions approx. we can expect from each influencer. During the initial post, we categorise the influencers based on the following criteria. 

  • HP (High Performers): Influencers with >10 conversions/post 
  • MP (Medium Performers): Influencers with 3 - 9 conversions/post 
  • GP (General Performers): Influencers with <3 conversions/post 

As low performers might sound offensive to certain creators, we decided to label influencers with <3 conversions/post as general performers.

Q4: 2022 - HP, MP, & GP Participation Percentage
Q4: 2022 - HP, MP, & GP Participation Percentage


Remember the 80-20 Rule of Influencer Marketing? Let’s explain the idea in a few words: 20% of the influencers contribute to 80% of the revenue. This can become 10% or 3% of influencers contributing to 90-95% of the revenue (as shown in the pie chart above). 

Even though our High-Performing influencers made up only 2.3% of the total number of influencers we worked with, they generated a massive 71.4% revenue during the BFCM campaign. This shows how valuable your HP influencers are and why you should conduct influencer testing campaigns to filter out High Performers, Medium Performers, and General Performers. 

Read the article which explains this performance distribution more in detail here.

Conclusion

Our client's 2023 BFCM success story underscores the impact of influencer marketing, generating over $400K in just two months and over $34K in a single day! The key takeaway here is that a small number of influencers generate the majority of your revenue. 

The challenge is to find out who these influencers are. We help our clients to identify these influencers through gifting campaigns. By nurturing top influencers, crafting compelling campaigns, and capitalizing on Black Friday, you can achieve significant results! So, prepare for Q4 now and crush your BFCM campaign! 

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