Performance-Based Influencer Marketing—The Fastest Growing Marketing Strategy

Sara Williams

Sara is a Content Writer at InviteReferrals. She is not only a creative writer but also paints a beautiful canvases. She makes sure that you are left with no doubt about keeping up with marketing and sales.

There was a time when marketing only meant displaying advertisements on hoardings and doing promotions over television and radio. But with the birth of the internet and digital technology, everything has evolved. The journey of marketing from Adam & Eve to JayZ and Beyonce has been incredible. The marketing has many branches and can be done in many effective and efficient ways. 

If we were in the 2000s, going to a restaurant to have mouth-watering food, what is the next thing we must have done? Came back home and told our friends about that restaurant, right? This is known as Word of mouth marketing. 

But now, since we have the internet and other social media, word of mouth is no longer the same. People go to the restaurant, click pictures, tag the restaurants, use internet lingos, and then dig into the plate. Every time and everyone does the same. 

Word of mouth can now be done in many ways: influencer marketing, Referral Marketing, Affiliate Marketing, and many more. Therefore we can say that influencer marketing is the digital form of word of mouth marketing. 

But we are here to talk about the fastest and the #1 growing strategy of Word of mouth marketing that is Influencer Marketing.

What is Influencer Marketing?

It is a type of marketing where the key people in the social media endorse a product for a brand to drive more sales and to reach conversion goals. 

In other words, we can say that when a brand approaches an influencer for promotion of a product rather than directly communicating with their customers is Influencer Marketing. Influencer marketing is all about engaging people on social media by means of good content and influencers. 

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The millennials are crazy over Influencer Marketing. Every other profile on Instagram or twitter is of an influencer or blogger. Influencer marketing is trending like any other marketing strategy and gained its popularity in no time.

The Rise of Influencer Marketing

Many forms of marketing are said to be the most effective. Advertisements and promotions are considered as traditional marketing strategies, and social media is a new era marketing strategy. 

More than half the population of the world spends their time on social media. Thus, what better place than social platforms to promote your products. 

According to many reports, 83% of people ignore the ads that appear on social platforms. For many people, ads are misleading, but everyone trusts an influencer promoting the same product. 

Millennials are the ones who are attracted the most by influencer marketing. 

How to attract Influencers?

Find the niche to sell the product

            Not all influencers have a similar audience. There are various types of influencers, and every other influencer has a niche audience. 

            For example, if Lakme would need to market their newly launched makeup range, they will contact the beauty bloggers. If someone wants to sell some online courses regarding computers, they should contact the influencers who are in the education sector. 

            If you swap the roles of the influencers in the example above, you will not see the desired or expected outcome. 

            Therefore keep your money where the mouth is, and you will encounter incredible influencer marketing results.

Offer the best deal

            Before you approach an influencer, you need to create a plan that involves a strategy and budget. Carefully plan what influencers fall into your budget and also have the audience that you want to target. 

            Contact them with the best plan and offer them the deal. Once they agree to market your product, you can discuss the payment schedule with them. Ask them how you want your product to be marketed. 

            Send them a detailed guideline and ask them how they would like to receive a payment. 

            Also, if necessary, execute a face-to-face meeting to create a powerful impact.

Bribe them with your ‘WORDS’

            Many influencers either vouch for the free product or charge a hefty fee for marketing your product. But it is a possibility that your budget doesn’t allow much expense. 

            That is when the power of the word comes to the action. 

             You can create a deal with compelling words so that the influencers can never decline your offer. 

             As they say, content is the king. Also, the content is the biggest bribe you can offer someone. 

 Make them the face of your brand

                   There was a time when the use of social media for marketing was only limited to creating profiles and uploading the product images. But since the influencers have arrived to rule the social media, the face of marketing has completely changed. 

                   Every other profile on Instagram you see is an influencer selling a product.

                   Earlier brands used to have a face for their brand, generally known as Brand Ambassadors. But now every brand has at least 6-10 faces to promote their brand. 

                   Influencers reach out to a specific audience and create a strong customer base for you without making any extra efforts.

Brands that reached Influencers to grow their Business

Below I am enlisting some of the influencer marketing campaigns that caught everyone’s eye and engaged a large number of people. 

Daniel wellington 

            Daniel Wellington is a company that creates premium watches. Well, when it came into the market in 2011, they weren’t a ‘Premium brand’ but made a firm place in the market in recent years. But how did they create a buzz for their watches in very less time? Social media is the answer! 

            They started a campaign where they sent out the watches to some of the top and trending influencers on Instagram, and they made them share the watches on their posts with a custom referral code that the public can use to buy discounted watches. 

            In no time, the DW watches were all over Instagram, and a 48% hike was seen in their sales. 

            DW is now a luxury brand, and its ‘minimal design’ watches can be a spot even from a distance. 

            Daniel Wellington watches are now a new aesthetic and can be seen on every influencer’s profile.  

            As you can see in the picture above, an Influencer on Instagram is doing a paid promotion for DW watches. The referral code can be seen in the caption beside the image.

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Shein 

            Shein is a fashion e-commerce platform. When it was first launched, they mainly focused on women apparel, but with the growing popularity, they now offer men, children, clothing, and other accessories too. But what did they do to create such a rage around the globe?

             Initially, when Shein was first introduced, their products were considered deceptive, as many claimed that they copied the designs of big brands. Still, they managed to earn global recognition.

            They reached the social media influencers and the fashion bloggers over Instagram and asked them to do the paid promotions. 

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             They created hashtag #SHEINgals, which created a community of fashion enthusiasts, and they started promoting Shein by wearing their apparel and adding their referral code on every post they share. Shein is a big platform for fashion crazies, and many women now prefer Shein before any other e-commerce platform for buying new clothes.

SugarBearHair Vitamins

            They got all the big names influencers for the promotions. The bluebear hair vitamins tablets were first seen somewhere around 2017 in Instagram where the Jenners and Kardarshians sisters were seen promoting this hair vitamin. Soon this vitamin was seen in the instagram of all celebrities and they were seen promoting this hair vitamin so how could not have people trusted this brand. 

            SugarBearHair Vitamins claimed to grow hair and was never a hot-shot product but it was made one by the Instagram influencers. 

            They created an aesthetic—their instagram profile was all blue turquoise and pink. 

             When big name influencers promote a product people can do nothing but to believe everything the influencers say and eventually they end up buying the product. 

            This is why they become the best selling hair vitamin online. 

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Google Pixel

            Since its founding in 1988 Google has evolved so much, starting off with the search engine they have introduced many other technologies to the world. 

            Google recently launched a phone named ‘Google Pixel’ in 2013. Since Google is already a trademark they didn’t have to struggle much for marketing their phone. But as they launched a phone with already premium range phones [iPhone and Samsung] existing in the market. Therefore keeping up with such a big brand was the priority for Google. 

             Google created a community named as #teampixel and they collaborated with many influencers.

           They collaborated with both the macro and micro influencers to attract new customers. 

            The influencers created many sponsored posts and the highlight was the smartphone’s photography. 

            Every influencer posted a picture with a hashtag #teampixel. 

            Google’s this marketing strategy of creating an influencer’s community gained them a total social engagement of 8.9% which resulted in their increased sales.

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Conclusion 

Now that you know the basics of influencers marketing and how this marketing strategy is the new internet sensation. 

The next thing you need to do is plan a strategy, target the right influencers which you think can endorse your brand the best. Once you adapt influencer marketing for your brands promotion you will see a immense change in your ROI.