Opinions expressed by Entrepreneur contributors are their own.
The upcoming summer provides an ideal opportunity for brands to reevaluate and refine their strategies. One possibility is to invest in effective influencer collaborations. This article outlines how brands can forge successful partnerships with bloggers and influencers to maximize their summer sales.
The transition from Q1 2023 to Q1 2024 saw a 25% increase in influencer sales through affiliate marketing channels and a 17% rise in Gross Merchandise Value (GMV). This trend is particularly apparent as markets stabilize post-COVID-19 inflation spikes. Brands should consider this data when planning long-term marketing strategies to maximize revenue on influencer marketing while simultaneously cutting costs.
This approach is increasingly popular across social platforms, where influencers often embed promo codes or affiliate links in their posts. It facilitates measurable results from these collaborations and enhances sales potential. Additionally, this method can be a basis for negotiating contracts with influencers.
Related: 5 Influencer Marketing Metrics You Should Know
1. Choose the right platform and niche
ConvertSocial’s 2023 affiliate network data revealed notable differences in average order values across platforms — $34 for Messengers, $25 for Instagram and $24 for Twitter. This highlights the importance of choosing platforms wisely. Messengers might excel in categories like sports or beauty, but they might not be as effective for fashion bloggers.
The analysis also highlighted the top-performing categories: Fashion: 17.9%, Home & Garden: 12.9%, Mother & Kids: 11.6%, Sports & Entertainment: 10%, Electronics: 9.7%. Choosing an influencer specializing in a relevant niche rather than a general lifestyle can lead to more targeted and successful campaigns.
2. Take advantage of emerging social media platforms
While platforms like Instagram and Facebook remain influential, newer social media like TikTok demonstrate significant commercial potential. TikTok has nearly 2 billion active users monthly and saw a 55% increase in sales growth generated last year through the ConvertSocial network, showcasing its efficacy in engaging younger demographics.
Although clouds have been gathering over the app recently and are at risk of being banned in the US, many users continue using it as a shopping guide. For example, the recent Stanley Cup epidemic was most precipitated by TikTok videos.
Also, different product categories benefit from specific formats; for instance, fashion items might convert well through images and videos, depending on the presentation. On the other hand, tech products often require video demonstrations to communicate features and benefits to potential buyers effectively. To avoid losing such a juicy slice, Instagram has been much more focused on promoting Reels lately, and YouTube has been actively supporting the Shorts format for a while now. When working with influencers, brands should consider which formats are currently the “favorite child” on the platforms.
Related: How to Do Influencer Marketing the Right Way
3. Monitor seasonal trends
The Internet, globalization and improved delivery options have made it possible for local manufacturers to attract orders worldwide. Influencers have also gained subscribers from many countries around the globe. For collaborations with Influencers to be truly native, it is essential to consider their audience’s nationality.
For example, the United States is anticipating a heat wave and vacation season, while South Africa, on the other hand, is experiencing cold and inclement weather. Americans celebrated Valentine’s Day back in February, while in Brazil, it will be celebrated only on June 12. It’s important to be aware of these details if you want your content to reach your audience’s hearts.
Related: 5 Proven Tips to Better Understand Your Audience and Drive Sales
4. Foster authentic connections
The effectiveness of an influencer marketing campaign largely depends on the authenticity of the influencer’s voice. Consumers are more likely to trust influencers whose lifestyles and values align with their own. Brands are increasingly seeing the value in partnering with micro and small influencers due to their high engagement rates.
While prominent influencers may have the backing of an entire team, which can sometimes create a disconnect with the audience, micro-influencers tend to maintain a closer, more personal connection with their followers.
While searching for the right partner, it’s also essential to check if their values and tone of voice align with company one. Brands should prioritize partnerships with influencers who genuinely resonate with their target audience to build trust and encourage engagement. The right influencer can become a resonating brand ambassador for your customers.
As 2024 unfolds, the landscape of influencer collaborations will continue to evolve. By keeping up with current trends, selecting the right influencers and aligning with consumer interests, brands can effectively leverage the power of blogger partnerships. Thoughtful strategy and a focus on authenticity will enable influencer marketing to be vital to a brand’s promotional toolkit, delivering significant returns through personalized, impactful campaigns.
