It's time to begin integrating influencers into your affiliate programs, whether you've been doing affiliate marketing for a while or are just getting started. In the past, affiliate programs have required using sizable affiliate networks run by outside organizations to aid in product promotion. It's time to reconsider your affiliate marketing plan, though, considering the emergence of influencer marketing and consumers' interest in following trend setters, artists, and tastemakers on Instagram, TikTok, and especially YouTube.
Why use influencer marketing in affiliate marketing?
At this point, pretty much every online marketer has tried affiliate marketing in some capacity. However, if you don't incorporate influencers into your affiliate networks, you are likely leaving money on the table. Brands can use influencer marketing to boost sales by developing an influencer affiliate network rather than the traditional pay-per-post model.
Influencers produce genuine material to subtly advertise products. Influencer-generated content uses storytelling, humor, and real-life events to sell items as opposed to traditional affiliate content, which is overwhelmingly commercial and has a more salesy vibe.
Every campaign needs a specific kind of influencer! You can work in collaboration with a macro or celebrity influencer if you want to reach a broad audience and increase mass market sales. Whereas you should pick nano or micro-influencers if you desire to concentrate on a small portion of a particular market – these are the influencers we’d recommend using should you incorporate them in your affiliate campaigns.
Influencers foster trust, which aids in attracting new clients. In order to establish authority and trust in their particular field, they invest time interacting with their fans. This makes it easier for influencers to persuade those who are considering making a purchase to actually convert as compared to a standard paid social ad.
Influencer referrals stimulate purchases unlike any other ad source. Over 50% of online shoppers said they had purchased a product based on the advice of an influencer, a number that has been steadily increasing over the years.
How to find influencers to join your affiliate program
You might be accustomed to having to pay to enter affiliate networks in order to find the best affiliates for your program. However, the best strategy for hiring social media influencers is to use an influencer search platform instead.
Traditionally, you would advertise your offer on an affiliate network in the hopes that eligible affiliate marketers would sign up for your program. In order to attract top affiliates, commission rates tend to be extremely competitive since brands rely on affiliates to promote their programs.
With the use of a platform, hiring influencers allows you to evaluate performance indicators and hand-pick the influencers you want to collaborate with. Users will be able to locate suitable profiles using influencer databases based on a variety of variables, including audience size, engagement rate, demographic data, and more.
Brands have the chance to examine indicators like authenticity (gleaning how many fake followers an influencer has), engagement rate, average views, and even paid post performance, to help them identify the top influencers for their affiliate program. Smartfluence’s unique edge allows you to use comparison profiles to find micro and nano influencers similar to your ideal paid influencers, allowing you to target the same audience as a mega influencer or celebrity without having to pay mega prices!
Analyzing your own brand network to uncover important people is another technique to find influencers for your affiliate programs. To find influencers that are already a member of your brand community, Smartfluence can show you your notable followers, likers, and even lookalikes. You can increase sales with genuine user-generated content based on their actual experiences as part of your brand network by collaborating with nano and micro-influencers who are already familiar with and passionate about your brand as part of your affiliate program.
Selecting a compensation plan for your influencers
Influencers are typically paid through a combination of complimentary products, cash rewards, performance-based payments, and commissions in influencer marketing initiatives. Smaller Influencers typically choose a commission-based model since it gives them the chance to generate a consistent income that can outweigh a one-time flat compensation. For influencer marketers looking to maximize their ROI, performance-based compensation is growing in popularity. Previously, an influencer's payout fees were determined by the size of their following, but today's marketers are looking at performance. Instead, they've decided to pay influencers when they help their company achieve real outcomes.
Like choosing the commission rate to pay your affiliates, choosing the commission rate to pay your influencers must be based on a careful evaluation of your own costs and what you can afford to provide. For guidance in determining the amount of commission you will pay each sale, it is crucial to consider your average client acquisition costs and your profit margin for each product. You have the option of charging a flat fee for each sale or a portion of the revenue. You can always provide your top-performing influencer affiliates additional rewards, such performance-based bonuses.
How to run an affiliate program for influencers
You must focus on onboarding them, sharing briefs and contracts, and dispersing affiliate links after you have selected creators for your influencer affiliate program. Using an affiliate marketing software is the ideal option when there are numerous procedures to follow and a lot of affiliates to handle. You can automate important operations, communicate with affiliates on a large scale, and manage sales tracking and rewards as efficiently as possible by using the correct tools.
Using a platform like Smartfluence enables you to perform end-to-end affiliate marketing campaigns when it comes to managing influencers as part of your affiliate program. Smartfluence is a powerful solution in conjunction with your affiliate platform for managing your influencer affiliate program, from locating influencers to distributing affiliate links and discount codes at scale while your affiliate platform handles payouts and commissions.
Evaluating the effectiveness of your affiliate program
Choosing the most pertinent KPIs at the outset will help you measure the performance of your influencer affiliate program effectively. Influencer marketing has a wide range of applications, and its effectiveness may be assessed in terms of awareness, engagement, content, and sales. Your chosen KPIs should be geared at monitoring conversions when dealing with influencers as part of your affiliate marketing program. Their effectiveness is determined by how much money they have gotten your company directly.
Your affiliate marketing programs can be a terrific method to expand the success of your campaign by incorporating influencers. Putting money into genuine content creator collaborations will help you expand your brand and attract new clients. By focusing on exploiting influencers' social media content to promote sales, working with influencers enables marketers to investigate news channels for affiliate marketing and convert new online audiences. You can easily adapt your strategy and take use of the advantages of influencer marketing by developing influencer affiliate programs, and scale your efforts beyond what was previously possible!
You can also obtain extremely relevant results on YouTube by searching with hashtags. To make their material more discoverable, many creators may include crucial hashtags in the video description or title. You're extremely likely to find content from related YouTube creators if you look through the results of your hashtag search. You’ll notice plenty of brands use branded hashtags which their influencers in turn use to help classify their posts. Here’s an example below: