Influencer Marketing Can Create Viral Referral Marketing Opportunities
What is an Influencer?
An influencer is someone who has built a reputation or authority that has the power to affect decisions of others because of said reputation or authority. In fact, studies have shown that a company is likely to get around an 88% boost in buying behavior of their consumers when an influencer promotes a certain brand.
What is Influencer Marketing?
Influencer marketing is where an influencer who has been deemed to have influence over potential customers is used, either as testimonial advertising or as potential buyers, to cultivate sales. Influencer marketing is easily seen on social media where reputable characters like known YouTubers, bloggers, Twitter users, etc. are used to support your business. If used properly and combined with a referral program, it’s very possible to generate a large number of referral sales which can then generate even more referrals.
How can you use Influencer Marketing to create more referral sales?
There are several steps to getting the most out of your Influencer Marketing efforts and some provide a quick return through sales but also through exposure to your brand. Most influencers have a great number of followers online. Followers who adore them and will pay attention to who or what the recommend. According to research carried out by Twitter, which had the goal of identifying follower responses to influencers’ tweets, it was discovered that a whopping 40% of followers made a purchase after reading an influencer’s tweet.
So, keeping all of that in mind, let’s look at some key steps on how you can use Influencer Marketing for more Referral Sales.
- Discover your Influencers – The first step is to uncover who your right influencers are. The first step is to pay attention to who is buying from you. They might be the very people who, because they have an affinity for your brand, can quickly influence an audience. If you see or hear of someone using your product that has any social sway, reach out to them.
- Associate with your Influencers – Once you are able to identify some potential influencers for your business, reach out to them and see if you can start a mutually beneficial partnership. Discuss what their goals are and look for ways to help them achieve them. Are they wanting to create more revenue for themselves? Wanting to expose their own brand more? Talk to them about your goals, your marketing strategies and figure out how you can work in the areas that overlap with their goals. Next, assist them with content creation and once you have a campaign ready to go, keep an eye on their performance and referral traffic that they brought in so you can make sure it’s all working.
- Start the Influencer Marketing Campaign – As mentioned above, once you have a well-designed influencer marketing campaign running you will start to pull in more referral sales but you absolutely must measure the activity. To do so, you can make use of certain tools such as a referral marketing platform or an Influencer/Blogger Outreach Software platform.
- Promo Codes, Brand Names, and Branded Hash Tags – Within the realm of Influencer Marketing, the use of promo codes is one of the best ways to see quick success for you, your brand and your Influencer. An easy one to start with is a simple discount code that your influencers can use to promote your brand name to their networks. When the influencers place the promo codes along with a promotional link, it will pull in their followers because they’ll trust the influencers recommendation. You can do the same with branded hashtags and once the influencer has driven in extra sales and traffic you can give them a commission based on the usage of their codes and/or hashtags. It’s a win for you, a win for the Influencer and a win for their followers.
As you can see, teaming up with suitable influencers, offering their target audience something that they love is truly beneficial for everyone. But, Influencers don’t have to always be celebrities or the like, you can create a referral program that starts off with family and friends, offering them something they love and that they can then promote to others so that referral sales start coming your way.