Combining Influencer Marketing and Promo Codes
Influencer marketing is a relatively new digital marketing branch, but it is an effective technique to reach business goals, as 92% of marketers believe.
A quick recap – influencer marketing refers to hiring one or more influencers to discuss your brand. Influencers are often tied to brands on a pay-per-project basis. They are popular on a particular medium such as Instagram, YouTube, blogs, podcasts, or elsewhere.
Since influencers have huge audiences, collaborating with them comes with several benefits. Sometimes, a brand may expect an influencer to share a promo code with its audience. How does this help the biz?
Let’s start with influencer marketing‘s benefits, learn its effectiveness, and dive into how your brand can make the most of influencer marketing that involves promotion coupons.
Benefits of tapping into influencer marketing with promo codes
As mentioned above, influencers have thousands. Influencers include beauty, tech, sports, parenting, fashion, art, etc. 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. However, many micro-influencers 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 well-established, partnering 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 website traffic and foot traffic in your store.
- Ups social engagement
Social media marketing is essential, 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 social brand. 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 gives you a shoutout, this benefit can be acquired when influencers share a promo code. Offering a discount makes the influencers’ audience tempted to buy your product, which means your revenue bumps.
- Raises conversion rate
Okay, you have potential customers, but how do you convert them? Positive reviews from influencers can help. When a potential customer sees an 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. Furthermore, only 25% of companies fail to profit from the tactic.
This is proof enough that influencer marketing is worthwhile. As per Rakuten Marketing, an influencer’s recommendation is so reliable to customers that eight out of 10 have purchased something on an influencer’s rec.
Another good stat to digest is that 89% of marketers say influencer marketing is comparable to 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 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 unique to their name—fans of this influencer rush to use this coupon code and head to your website to purchase.
This accomplishes your goal of increasing sales and is a great promotional tactic. Promo codes also fulfill two other purposes when combined with influencer marketing. These are:
- They help you track revenue.
Tracking each influencer’s revenue 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 how much revenue each influencer has chipped in.
However, finding which platform traffic has come in can be tough. Have people led your site from a particular influencer’s blog, YouTube channel, or Instagram? You can make discount codes unique to each influencer’s channel, which will confuse it all.
One place that can fetch you some insights is Google Analytics. You can also use tracking links, which can be given to describe the posts influencers make. However, these cannot be applied on Instagram since the network doesn’t allow folks to add links to captions. Instead, tracking links are often used in profitable affiliate marketing niches to see where an influencer is sending traffic.
- They help look at influencers’ offline efforts.
He makes offline promotional efforts when you offer a promo code through an influencer and not only share it on a platform but also mention it to folks on a podcast or other way. With a promo code, you can track the effectiveness of influencers’ offline promotional efforts.
How do you 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:
Be clear with what you expect
Do your research and know what you can reasonably expect from an influencer. Then, mention your expectations or goals to the influencers you work with. You can include recommendations like mentioning the coupon in bold, adding a tracking link, and using a graphic with the code.
Remember not to be too demanding, and don’t try to instruct the influencer all too much. On the other hand, your approach in mentioning your expectations should be mild so that your influencer still has the freedom to be creative with the campaign.
Use apps and tools.
Managing several influencer campaigns can be difficult. But you can make the entire process convenient by using apps and tools. For instance, apps for finding influencers, influencer outreach programs, tracking links, generating codes, and whatnot. So invest in these and reduce the headache.
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 unique system for each influencer. Ideally, your codes should be short and easy to remember. In addition, you can make a code specific to each influencer’s social handle, which will also be more comfortable for their audience to remember.
Offer a worthwhile discount.
Offer a significant discount so that people are tempted to make a purchase. They want to use your promo code, not visit your site, and then hop off. For example, if you offer a 20% off promo code but have a massive clearance sale on-site, visitors may 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 purchasing.
How do you 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 know, the influencer of your choice must always be of your industry. So, for example, your promo code influencer campaign will not be fruitful if you are a sports brand and a random beauty influencer shares your promo code with its audience.
Research the influencer thoroughly.
Before working with an influencer, you should be aware of their analytics. It would be best to 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 and bots can be bought. I always prefer engagement over the number of followers. Look at the influencers’ likes, shares, and comments you have shortlisted. Sometimes, going for a couple of micro-influencers is 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, your influencer should also have a successful channel. Many influencers are present on several different channels. For instance, an influencer may have a good presence on YouTube, Instagram, and a blog. You can also work with such multichannel influencers to promote your brand.
Summing up, you can promote promo codes through influencer campaigns. Just be sure to follow the right steps to drive maximum results.