Influencer marketing is a relatively new branch of digital marketing, but it sure is an effective technique to reach business goals, as believed by 92% of marketers.
A quick recap – influencer marketing refers to hiring one or more influencers to talk about your brand. Influencers are often tied to brands on a pay-per-project basis. They are folks that are popular on a particular medium such as Instagram, YouTube, on their blog, podcast, or elsewhere.
Since influencers have huge audiences, collaborating with them comes with several benefits. Sometimes a brand may also expect an influencer to share a promo code with its audience. How does this help the biz?
Let’s start with the benefits of influencer marketing, learn its effectiveness, and then dive into how your brand can make the most of influencer marketing that involves coupons’ promotion.
Benefits of tapping into influencer marketing with promo codes
As mentioned above, influencers have followers in thousands. There are many different types of influencers out there, including beauty, tech, sports, parenting, fashion, art, and other influencers. Take, for example, Zoe Sugg, who happens to be a famous beauty vlogger.
Often, celebrities are also social media influencers, notable ones including Chrissy Teigen and Kylie Jenner. There are also many micro-influencers out there who happen to have few followers, say an audience of not more than ten thousand.
What do influencers do? They review products, and in paid partnerships, they promote your products. How does this benefit your brand? Let’s take a look:
- Spreads brand awareness
Whether you’re only starting or your brand is a well established one, partnering up with an influencer gives your product exposure. This means your product is advertised to a broad audience, and awareness about your product is spread.
- Brings in traffic
Another way influencer marketing benefits your brand is by boosting traffic. More people visit your site page as they get to know about it. This can increase not only website traffic but also foot traffic in your store.
- Ups social engagement
Social media marketing is supremely essential these days, whether you are a brick and mortar business or just an online brand. However, forgetting the full benefits of social media marketing, you need potential customers to follow your brand on social. Influencers can help here. They bring an audience to your social channels by sharing your handles.
- Increases sales
While the other two benefits can be attained even when an influencer just gives you a shoutout, this benefit can be acquired when said influencer also shares a promo code. Offering a discount leads the influencers’ audience to be tempted to buy your product, which means your revenue bumps up.
- Raises conversion rate
Okay, so you have potential customers, but how to convert them? Positive reviews from influencers can help. When a potential customer sees influencer praise your brand, he knows you’re reliable. This helps increase conversions.
How effective is influencer marketing?
Investing in influencer marketing will surely be worthwhile for your brand. A 2019 survey found that businesses make $5.20 on the expenditure of every $1 on influencer marketing. Only 25% of companies fail to make any revenue from the tactic.
This is proof enough that influencer marketing is worthwhile. An influencer’s recommendation is so reliable to customers that eight out of 10 of them have purchased something on an influencer’s rec, as per Rakuten Marketing.
Another favorable stat to digest – 89% of marketers say influencer marketing is either comparable or better than other marketing techniques.
Why should you offer promo codes through influencer marketing?
Do you want to offer a particular segment of people with a discount? Influencer marketing is a great place to start. A brief look at what happens – the influencer talks about your brand on your preferred channel and drops a promo code that is unique to his or her name. Fans of this influencer rush to use this coupon code and head to your website to make a purchase.
This accomplishes your goal of increasing sales and works as a great promotional tactic. Promo codes also fulfill two other purposes when combined with influencer marketing. These are:
- They help you track revenue.
Tracking the revenue that each influencer brings can be challenging, but it gives you a good glimpse at how successful each influencer campaign has been. The unique codes assigned to each influencer will show you how much revenue each influencer has chipped in.
However, it can be tough to find which platform traffic has come in from. Have people been led to your site from a particular influencer’s blog, YouTube channel, or Instagram? You can make discount codes unique to each channel of each influencer, but that will just make it all very confusing.
One place which can fetch you some insights is Google Analytics. You can also make use of tracking links, which can be given in the description of the posts’ influencers’ make. However, these cannot be applied on Instagram since the network doesn’t allow folks to add links to captions. Tracking links are often used in profitable affiliate marketing niches to see where an influencer is sending traffic from.
- They help look at influencers’ offline efforts.
When you offer a promo code through an influencer, and he doesn’t share it on a platform only but also mentions it to folks on a podcast or in another way, he is making offline promotional efforts. With a promo code, you can track the effectiveness of influencers’ offline promotional efforts.
How to use promo codes for influencer marketing?
Now that you’re well aware of the perks of combining influencer marketing with promo codes for successful coupon marketing let’s talk about how you can use promo codes? Here are some tips:
1 – Be clear with what you expect
Do your research and know what you can reasonably expect from an influencer. Mention your expectations or goals to the influencers you work with. You can include recommendations like mention the coupon in bold, add a tracking link, and use a graphic with the code on it.
Remember not to be too demanding, and don’t try to instruct the influencer all too much. Your approach in mentioning your expectations should be mild so that your influencer still has the freedom to be creative with the campaign.
2 – Use apps and tools
Managing several influencer campaigns can be difficult. But you can make the entire process convenient for yourself by using apps and tools. For instance, there are apps for finding influencers, for influencer outreach programs, for tracking links, generating codes, and whatnot. Invest in these and reduce the headache.
3 – Offer unique codes to all influencers
How to set up promo codes for influencers is a question that might be spinning in your head. You see, you are supposed to have a system that is unique to each influencer. Ideally, your codes should be short and easy to remember. You can make a code specific to each influencer that is their social handle, which will also be more comfortable for their audience to remember.
4 – Offer a worthwhile discount
Offer a significant discount so that people are tempted to make a purchase. They just want to use your promo code, not visit your site and then hop off. If you offer a 20% off promo code but have a massive clearance sale on-site, visitors may decide to ignore the promo code and shop from a sale.
Therefore, offer a significant discount to make them use the promo; otherwise, the purpose of your campaign is defeated. Moreover, the audience of the influencer shouldn’t get a minimal choice. You should try and give them a promo code that doesn’t only apply to a limited number of products but applies sitewide. Giving the audience only a few options can deter them from making a purchase.
How to select your influencers for promoting promo codes?
Choosing influencers who fit your budget for your campaigns is not easy. This first step can be one of the toughest of the process. To make sure you don’t make any mistakes when picking influencers to work with for them to promote your promo codes, the following are some best practices:
- Make sure the influencer is of your industry.
As you must already know, the influencer of your choice must always be of the industry you are in. Your promo code influencer campaign will not be fruitful if you are a sports brand, and a random beauty influencer is sharing your promo code with its audience.
- Research the influencer thoroughly.
Before working with an influencer, you should be aware of his or her analytics. You should also read all the reviews of the influencers you have shortlisted and look at their previous campaigns to get an idea of their success rate, creativity, etc.
- Go for engagement over followers.
Don’t let the follower count fool you; followers can be bought and bots. Always prefer engagement over the number of followers. Look at the likes, shares, and comments of the influencers you have shortlisted. Sometimes going for a couple of micro-influencers is way better than offering a promo code through one big influencer.
- Choose an influencer where your audience is
If your audience tends to be on YouTube more, then your influencer should also have a successful channel there. Many influencers are present on several different channels. For instance, an influencer may have a good presence on YouTube and even on Instagram, along with having his or her blog. You can also work with such multichannel influencers for promoting your brand.
Summing up, you can promote promo codes through influencer campaigns. Just be sure to follow the right steps so that you can drive maximum results.