The objective of your Influencer Marketing program is to identify top-performing influencers with which you want to work with long-term. Some of these influencers can contribute significantly to your top-line revenue, which means you want to nurture and care for these relationships.
Read more about What Performance You Can Expect from Influencer Marketing here.
Your performing influencers/brand ambassadors are the ones you want to invite to your seasonality campaigns. Seasonality campaigns can be promotions during certain calendar dates, such as valentine’s day, mother’s day, or the holiday season (Black Friday, Cyber Monday).
As influencer marketing follows the pareto distribution you will usually end up with a large number of lower performing influencers approx. around 80% of the total influencers you work with and a smaller number of high performing influencers around 20% of the total influencers you have worked with.
Read more about the Pareto Principle and Influencer Marketing here.
If you have limited human resources to manage all these relationships it is highly recommended to focus your attention on high performing influencers (top 20%). If you have the capacity, considering inviting lower performing influencers to your peak selling season could result in attractive returns.
Although the number of conversions per influencer in this segment is lower, the large number of influencers which have already received your product could result in attractive ROI. Because of the 80/20 Pareto distribution the performance in this segment comes primarily from the large number of influencers you could invite.
By inviting a large number of influencers you will be able to create a so-called snowball effect where your target audience will start to see content about your brand across multiple influencers which will amplify the performance of your overall influencer marketing campaign.
To organise these campaigns, there is a lot of communication involved which is impossible to manage without the right tools and processes. The Influencer Hero platform offers a structured and easy to use CRM to effectively manage all your influencer relationships in one place.
Each influencer has its own deal page where all information is gathered. This enables you to manage these campaigns without losing control. By creating affiliate links and discount codes within the CRM deal page directly, the Influencer Hero platform offers a full-suite affiliate marketing platform.
All referrals are gathered in one place and you can compensate the influencers accordingly. When working on affiliate deals make sure to be transparent. The more the influencer understands that their earnings depend on their performance, the more effort they will put into the post. Make the collaboration a mutually beneficial relationship.
Keep in mind, however, that not all influencers are completely familiar with the concept of affiliate marketing. Although it sounds very intuitive and logical that it is only fair to compensate the influencer based on their performance, this only sometimes leads to closing good deals.
Putting too much emphasis on performance can have a negative effect on the relationship if the influencer puts high emphasis on genuine partnerships. Try to find a good balance between the commercial aspect and genuine partnerships. A lot of influencers also prefer fixed payments over affiliate commissions.
When working with fixed payments use the data from previous posts to make an educated guess/forecast on what revenue you can expect and make a fixed offer accordingly to maximise ROI of your influencer marketing program.
Read a step-by-step approach for creating a performance-driven influencer marketing program in our Ultimate Influencer Marketing Guide here.
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