How to Combine Your Influencer and Affiliate Marketing Campaigns
By Joris Cretien, Director of Partner Growth, Awin US
What do influencers and creators do for your brand’s sales and profits? These trusted partners are known to drive high-level results and have proven to be very effective in increasing brand consideration, but unless an exclusive code is given, it is difficult to measure the direct impact. Subsequently, it is difficult to understand the value of your investment in influencer partnerships.
According to eMarketer, 73% of brands will operate influencer programs in 2022, with total spending by US influencers exceeding $4 billion. The costs of collaborating with creators also increase as demand grows, and these partners increasingly share details about what they earn from brands with each other.
All of this to say that your business naturally needs to see a significant ROI from influencer marketing to justify the investment. And affiliate marketing is the perfect way to do it. Awin, the leading affiliate marketing and partnership platform, has spent over 20 years helping brands big and small leverage the creator economy to drive measurable sales and revenue for their business with a $16 ROI: 1. Below, we’ve outlined our top five reasons to combine your own influencer and affiliate marketing business.
1. Strengthens internal collaboration
Metrics and accountability are essential to any partnership, and affiliate marketing gives your team access to the necessary information. By integrating creator efforts with partner marketing, you can measure direct sales to increase influencer-driven purchases. Plus, you can optimize partner diversification, gain quantitative insights into individual performance, and combine sales metrics with valuable top- and mid-funnel data for a holistic approach.
This cross-functional teamwork helps your organization break down service silos and be jointly accountable as you work toward goals. Additionally, many of the best campaign ideas come from collaborations between historically disconnected teams like social media, PR, and affiliates.
2. Aligns with goals
Often, influencers feel in the dark about a brand’s goals and campaign goals. This is never a good situation because without goals, creators make assumptions about what you want. While this may be more upfront work on your part, taking the time to communicate your goals well is crucial, and creators can also tailor their efforts to produce the results you want.
That said, that’s only half the battle. It is essential to share the results you are looking for, but equally essential to align on how the results will be measured and, therefore, compensated. The default compensation model for influencers is an upfront lump sum payment in exchange for vanity metrics which, as noted, may only scratch the surface of what you’re looking for. By merging your affiliate and influencer marketing activities, you can accurately measure a creator’s impact on sales and pay for tangible results. And with individual-level sales tracking affiliate marketing, you can accurately gauge each influencer’s ROI and focus on the most productive ones.
Performance-based compensation models also benefit influencers, providing an immediate feedback loop. Brand partnerships and products that resonate with their audience will be evident from the sales they help generate and offer a clear sign that they are providing real value to their followers.
3. Create frictionless partnerships
Most affiliate platforms work with influencers. But, beyond compensation models, their user interfaces and broader metrics are often alien to these partners. When you force influencers to join an affiliate program with these tools, it can create unnecessary friction.
Finding the right creators and staying in close contact can make or break the results. To make it easier for influencers to work with brands and measure direct sales, some affiliate platforms like Awin have integrated with third-party influencer management solutions to eliminate friction and allow creators to focus on engagement of their audience.
For example, Awin’s partnerships with leading influencer management platforms Mavrck, CreatorIQ, and Socialix make it easy for retailers of all sizes and budgets to discover new creators and manage their relationships while getting accurate sales tracking. channels. Partnerships like these allow you to demonstrate positive results at all stages of the consumer journey.
4. Supports the long term
Influencer marketing focused on short-term tactics. We’ve since learned that you get better results by cultivating long-term relationships with performers. Find the voices that understand your brand and take the time to build lasting partnerships.
Creating these long-term relationships provides your creators with greater income stability and can make them permanent sources of income for your business. Your brand’s continued presence will also impress its followers and create ongoing social proof.
5. Expands your customer base
While the largest creators with over a million subscribers may appear to be the most appealing because they can expand their network, that greater reach doesn’t always match the impact on sales. As a result, these big influencers are sometimes reluctant to work on a performance model. This is where niche, nano, and micro influencers — those with a smaller, highly engaged audience of up to 50,000 followers — are your secret weapon.
These creators know they can earn more through brand affiliate partnerships because they attract a more engaged audience with a higher propensity to transact.
It is now
With the cost of influencer engagements rising and the need for direct sales accountability, companies need to find ways to not only generate more revenue, but also prove the value of the investment. As you can see, affiliate marketing offers the solution.
By combining your influencer and affiliate efforts, you get the biggest impacts to increase awareness, along with proven tactics that drive transactions. Merging these two outcomes is a win-win for both parties. Brands and influencers collaborating through affiliate partnerships exemplify a new way of working together that benefits everyone.
Find out how Awin can help you.
This post was created by Awin with Insider Studios.