Topics
- Influencer marketing
- Micro influencers
- Pay for performance
Video summary
This video discusses whether businesses should pay influencers up front to create posts around their products and brands. The speaker argues that this strategy used to work well, but people started losing trust in influencers who were being paid for posts. Instead, businesses should focus on micro influencers with a social media following of less than 100,000 and offer them a commission on every sale generated. The main tip is to pay for performance, not for posts, and start your own affiliate program. This strategy has been more successful because of the authenticity and genuineness of micro influencers.
Dig Deeper
Should You Pay Influencers for Posts?
In this video, the speaker emphasizes that paying influencers for posts is no longer an effective strategy to generate sales. The reason for this is that people have lost trust in influencers who are paid for posts. As a result, the sales generated from those posts rapidly decline. Instead of paying influencers for posts, businesses should focus on micro-influencers, who have a social media following of less than 100 thousand. These micro-influencers are perceived to be more genuine and authentic. One strategy to compensate these micro-influencers is to offer them a commission on every sale generated instead of a set amount upfront.
The Benefits of Micro-Influencer Marketing
The speaker talked about the benefits of using micro-influencers for marketing. These individuals have a smaller following but tend to be highly engaged with their audience. Thus, they can provide a more authentic and genuine endorsement of the brand or product. Micro-influencers also tend to be less expensive to work with and easier to reach than larger influencers. In the beauty industry, micro-influencers, in particular, can have a significant impact on generating sales.
Pay for Performance, Not for Posts
The key takeaway from this video is that businesses should focus on paying for performance, not for posts. Companies can start their own affiliate program and sign up micro-influencers who have a small but highly engaged social media following to speak about their products online. By offering a commission on every sale generated, businesses can create a win-win situation where both the micro-influencers and the business benefit. This strategy can help massively grow an eCommerce business.
The Impact on Affiliate Marketing Industry
The shift towards micro-influencers and paying for performance can have a significant impact on the affiliate marketing industry. Traditional affiliate marketing programs that offer a fixed commission rate may become less effective. Instead, businesses may need to adapt and offer a variable commission rate based on performance. Additionally, the focus on micro-influencers means that businesses need to be more selective in choosing who they work with. Instead of solely looking at the size of an influencer's following, they need to focus on finding individuals who have a genuine connection with their audience.
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