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Accelerating Revenue Growth Through Influencer Marketing

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This presentation is from Affiliate Summit East 2017 (July 30 - August 1, 2017 in New York).

Session description: Gain the expertise you need to implement successful, ROI-focused influencer marketing campaigns, while analyzing them in real-time using the latest technology.

Veröffentlicht in: Business
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Accelerating Revenue Growth Through Influencer Marketing

  1. 1. ACCELERATING REVENUE THROUGH INFLUENCER MARKETING With Tadd Spering, Founder and CEO facebook.com/Stylinity @Stylinity @Stylinity +Stylinity tadd@Stylinity.com
  2. 2. About Tadd Spering Tadd is the Founder and CEO of Stylinity, an influencer marketing tech company that helps connect brands and affiliates with influencers to unlock the power of digital influence. Tadd has been featured in Forbes, AdWeek, and as a panelist at PricewaterhouseCoopers, in addition to providing commentary as a subject matter expert for their Total Retail: Retailer and the Age of Disruption report.
  3. 3. A b o u t St ylin it y G o 2 Bu y An influencer management platform that allows brands and retailers to run successful, ROI-driven campaigns with top bloggers and social media influencers in fashion, beauty and lifestyle space.
  4. 4. 1. Why influencer marketing? 2. Influencer market statistics 3. Lessons learned in 2016/2017 4. Best practices 5. What’s next in 2018/2019? 6. How Steve Madden drove a 13% CTR and 200,000+ engagements 7. How Stylinity helped one brand drive over $355,000+ in sales 8. Technology Enabled Automation 9. Q&A Agenda
  5. 5. Influencer marketing is one of the hottest, and most effective, ways to get your brand in front of a massive targeted audience.
  6. 6. Consumers are immune to typical ads - 47% of them use ad block technologies. Why Influencer Marketing? Traditional ads are becoming ineffective
  7. 7. Why Influencer Marketing? 59% of marketers increased their influencer marketing budget this year. Brands are spending more on influencer marketing 20% 10% 11% 59% Unsure Decrease Budget Maintain Budget Increase Budget Influencer marketing budget over next 12 months (Source: Tomoson)
  8. 8. Why Influencer Marketing? It’s native Consumers trust recommendations from their peers and are more likely to purchase a product they see on someone else.
  9. 9. ROI can be amazing A recent study by Burst Media found that influencer campaigns earn $6.85 in earned media value for every $1 spent. Why Influencer Marketing?
  10. 10. Most effective platform for influencer marketing (Source: Tomoson) 15% 2% 2% 2% 5% 6% 6% 25% 37% Others Vine Google + Pinterest Twitter Instagram YouTube Facebook Blogs Why Influencer Marketing? Your consumers are already on social media and following influencers they know and trust. Reach your target where they’re most active
  11. 11. • When social media is part of their buyer’s journey, customers tend to convert at a 129% higher rate. • They are also four times as likely to spend significantly more than those without a social component. • Customers acquired through word-of-mouth (such as influencer marketing) are retained at a 37% higher rate than those acquired through other means. (Source: Deloitte) Influencer Marketing Statistics Consumer Number of conversions a consumer has each week Influencer Number of conversions an influencer has each week
  12. 12. Lessons learned in 2016/2017
  13. 13. Pain Points Hard to find quality influencers - Fake followers - Too expensive - Don’t deliver completed work - Inconsistent content/voice
  14. 14. Pain Points Negotiations take time and manpower - The process must be closely managed - Back-and-forth communication with influencers can take months
  15. 15. Pain Points Hard to track and analyze success - How do you prove ROI? - Relevant metrics to prove marketing dollars
  16. 16. 78% of marketers say that determining ROI is the biggest challenge of influencer marketing. Pain Points (Source: eMarketer)
  17. 17. • Globally, marketers spent $570 million on influencer marketing last year… on Instagram alone. • In 2016, brand sponsored influencer posts cost $9.7 million. By 2019, it’s expected to rise to $32.3 million. (Source: Media Kix) • On average, brands spent $25,000 - $50,000 per influencer campaign in 2016. • Some companies charge a minimum of $10k to run a campaign but results can be seen with a smaller budget. B r a n d s a r e s p e n d i n g a l o t o n i n f l u e n c e r s
  18. 18. Challenges Manual process - No single, central tool or platform to manage the process. Disconnected teams - Marketing owns influencer marketing but PR engages with influencers the most. - Social media teams and affiliate teams don’t talk, making it hard to get the campaign going. No integration - Currently, only 5% of marketers rate the maturity of their influencer marketing program as integrated.
  19. 19. Best Practices
  20. 20. • Ideal partnership between brand and influencer allows for transparency within the campaign terms and analytics. • Bloggers should disclose their exact number of followers and degree of influence. • Brands should clearly identify their content needs, specifically if there are any legal mentions such as #ad or #sponsored and pay influencers on time. Transparency
  21. 21. • Brands and retailers should have a real-time view into how well the campaign is performing. • KPIs should be agreed upon before the campaign and measured fairly throughout. • Some influencers are better at driving sales and conversions while others are best for engagement and user acquisition. • KPIs should be unique to the campaigns. Campaign Tracking and KPIs
  22. 22. Process Automation Communication, blogger selection, product tracking and campaign analytics should live in one place and be easily accessible to the brand/retailer and the bloggers involved.
  23. 23. W h a t ’ s n e x t i n 2 0 1 8 / 2 0 1 9 ?
  24. 24. By 2 0 1 9 , influe ncer s pe nd on Ins ta gr a m a lone could mor e th a n d ou b le fr om its cu r r e n t s ize to $2.4 billion. (Source: Media Kix)
  25. 25. T he ma jor ity (7 4 %) of br a nds a nd r e ta ile rs a r e a ls o focus e d on improving leads and sales conversion.
  26. 26. Technology will str eamline the influencer marketing pr ocess S ty linity ’s Go2 Buy pla tfor m is a n a ll -i n -on e s olu tion for b r a n d s a n d re tailers to run succe ssful influe nce r campaigns and track the ir ROI.
  27. 27. Teams will unite 5 7 % of ma r k e te r s s a y influe nce r ma r k e ting will be inte gr a ted into a ll ma r k e ting a ctivitie s in the ne xt 3 y e a r s .
  28. 28. • A recent Influence 2.0 study shows that influencers will play a role in the overall customer journey through content, engagement and community. • It is by engaging influencers in authentic, long-term relationships and creating value within the relationships between influencers and their communities, that CMOs can impact sales, satisfaction, retention and overall customer experience Influencer marketing will be a large part of the overall marketing strategy (Source: Traackr)
  30. 30. CASE STUDY: STEVE MADDEN x STYLINITY Perfect Picks For Summer Campaign
  31. 31. Objectives of Campaign #1 #2 #3 To drive awareness of Steve Madden through influencers with engaged followers and whose followers are interested in fashion trends and styling. To drive effective reach and engagement exceeding costs of campaign and products. To produce great user generated content, authenticated through social sharing and word of mouth advertising. Primary Objective Secondary Objective Tertiary Objective
  32. 32. The Influencers Nathalie Martin Woah Style Sabrina Tan Gypsy Tan Kimberly Kong Sensible Stylista 104k 62 2.2k 413 61.2k 353 329 158 73k 9.4k 13.8k 22.5k
  33. 33. Through this collaboration, Steve Madden is able to: Effective conversion Actual User Engagement A total of 157 clicks were generated from Go2Buy links, Coupons and “Buy Now” buttons, of which 88% of those clicks are unique users. Leverage on social share + 10927 Excellent social engagement Social posts alone have generated 10,927 views, likes and comments with a 6% engagement rate. Power of influencer network The cost of the campaign was translated into a total of 11,406 engagements, at a cost of $0.03 per engagement. Cost maximization $0.03
  34. 34. CASE STUDY: Trendy Millennial Brand/ Fast Fashion Label
  35. 35. Objectives of Campaign #1 #2 To drive measurable ROI with sales exceeding cost of campaign and product. To create great user generated content for the brand. Primary Objective Secondary Objective
  36. 36. Campaign Overview • Budget of < $10k • 10 style influencers created outfit posts featuring the products provided by brand. • Influencers shared all posts to their blogs, Instagram, Pinterest, Facebook and Twitter, with full tracking functionality through Stylinity’s Go2Buy platform. • The duration of the campaign was 3 months.
  37. 37. Campaign Results The campaign generated $355,241.76 in sales from start to date. Sales Each influencer created 4-6 unique posts with feature products that is reusable by brand for retargeting campaigns, ads or social content. Content The brand is now working with Stylinity on repeated campaigns at 2X budget. Repeat Customers
  38. 38. THANK YOU facebook.com/Stylinity @Stylinity @Stylinity tadd@Stylinity.com+Stylinity QUESTIONS?