Influencer and affiliate marketing are two strategies to enhance your online presence, connect with new audiences, and boost revenue.
Our recent Efficient Growth Community Chat, "From Likes to Revenue: Navigating Influencer and Affiliate Marketing”, featured three Efficient Growth members who shared their tips and tricks to harness the potential of influencer and affiliate marketing.
Transitioning influencers to affiliates can be beneficial for brands. Smaller influencers tend to prefer gifting and affiliate codes, while larger ones opt for paid partnerships. With limited resources or budget, consider gifting + commission. Social Media & Influencer Marketing Manager, Brett Ambrose, said “the pros of having influencers as affiliates…it’s more cost-effective for the brand and it’s more performance based; the more they sell, the more commission they can earn.”
Robust tracking is crucial for both influencer and affiliate marketing. Leverage third-party tools to help analyze data and identify opportunities to optimize. Terence Ploszaj, VP of Marketing and Innovation, recommends Tune, Everflow, TrackingDesk, and Impact for affiliate marketing, noting their strong capabilities for managing affiliate offers.
Our community members mentioned prioritizing the user experience, setting clear test budgets, and analyzing metrics holistically. Transparency and frequent engagement are vital to align goals and have a mutual understanding for the partnership.
17% of marketers plan to invest in influencer marketing for the first time this year. If that’s you, or if you’re just looking for more tips, we hope these resources help you improve your programs. Watch the full recording below for more.