Everything You Need To Know Today About Ecommerce Influencer Marketing
Thousands of brands are competing with each other to secure their place in the advertising space, and for this, companies have to pay; some of the big brands in today’s market are spending billions of amounts on advertising; however, you don’t need to do so as there are still better ways to get noticed and one such method is ecommerce influencer marketing. It is the quickest, most effective, and most profitable method you have seen businesses use today.
According to Influencer Marketing Benchmark Report 2019, for every $1 spent on influencer marketing campaigns, a company can expect an avg. return of $18. Not only this, as per Statista, Influencer marketing has grown by more than double since 2019, reaching a value of 13.8 billion U.S. dollars by 2021. Influencer marketing is prevailing in the market, and ecommerce stores and marketers are deriving the best out of it.
So if you have an ecommerce store, or you are an ecommerce marketer still sitting on the sidelines, it’s time to get up as we are diving deep into influencer marketing for e-commerce stores before your competitors take away your target audience, and you lose a great opportunity of getting high ROI.
What is a commerce Influencers?
Ecommerce influencers can be considered as mini-celebrities with millions and billions of nurtured following on social media channels (Instagram, Twitter, Facebook & Youtube) who help various ecommerce businesses by promoting their product among their audience, and such audience trust or rely on the influencer’s recommendations to buy the product which leads to selling for online ecommerce shops.
What is Influencer Marketing In Ecommerce, and How does it work?
Influencer marketing in ecommerce is the collaboration between businesses and online influencers to sell products and services. The biggest advantage of influencer marketing to online stores is their access to a large audience. But before reaching out to influencers, businesses must decide whose audience is suitable and relevant for their product and what the strategies should be.
Why Should Brands Invest In Ecommerce Influencer Marketing?
⦁ Cost-Effective Advertisement:
Influencer is cheaper when compared with traditional celebs, who are very expensive, and all brands can’t afford such celebs; plus, nowadays, a huge chunk of the audience is following influencers whose branding technique can give big results on smaller budgets.
⦁ Boost SEO & ROI:
ROI of influencer marketing for ecommerce is far better than using other channels. Even 50% of marketers agreed to this point, branding-focused influencer marketing can produce 8 times more ROI than other campaigns.
Influencer marketing, whether directly or indirectly, helps in SEO as there are chances of getting backlinks which is one of the most significant factors to rank a website on Google and can drive traffic to your website.
⦁ Time-Saving:
It takes a considerable amount of time to create a marketing campaign, but partnering with an influencer will save a lot of time as it is kind of outsourcing your work. Your brand will get promoted on different channels; lately, it can also be reposted. New reports have indicated that 41% of marketer advertisers have saved their budget on content creation.
⦁ Huge Reach & Brand Awareness:
Most influencers have millions of viewers on their social media accounts, so it becomes an excellent opportunity to reach billions of potential consumers. Influencers have more capacity for engagement, which gets more and more visibility, resulting in increased brand awareness.
⦁ Build Trust & Authority:
The psychology is simple, when an ecommerce influencer or any social media personality share content about a particular brand, it creates instant credibility in the eyes of the target audience. The brand gets recognition and is considered as a trustworthy company in its respective industry. Without building trust, a company can’t survive in today’s changing marketplace.
How To Create An Influencer Marketing Strategies For Ecommerce?
Now, as you are ready to read further about these strategies or may be thinking of incorporating influencer marketing for ecommerce stores in your marketing strategies, you should know what you want or how you will measure and monitor the progress as like any other type of marketing tactic similarly ecommerce influencer marketing also takes deliberate and methodical planning.
⦁ Determine Your Key Performance And Goals
You have to define for what purpose you are reaching out to an influencer; it would not be just about getting sales from their target audience; obviously, it should be more than that which would assist your brand in the long term. You can think about how influencer marketing is a big part of your social media strategies.
Your goals could be building brand awareness in front of thousands of people who have never seen or heard you before, and they get to know about what you can bestow them. Attracting a new segment of the target audience can also be your aim to acquire ideal customers, and so more like that.
⦁ Ground Understanding Of Ecommerce Influencer Marketing Landscape
Before entering the world of influencer marketing, you should be aware of the rules or how this world works. You must understand what type of influencers exists in the marketplace (nano influencer, micro influencer, mid-tier influencers, macro & mega influencers).
Need to conduct thorough observation about how influencers promote brands; this will ensure more information and aids in a bigger impression while reaching out. In addition to this, you have to look at the jurisdiction rules of that particular country regarding the sponsored post.
⦁ Reaching Out To Influencers
Once you understand what the pathway is and where you want to take your brand, it’s time to connect with the influencers. But before that, you have to consider three crucial components of influence.
Relevance –
An influencer who shares content relevant to your brand and has the same target audience to whom you want to showcase.
Reach –
Reach refers to the number of people you could reach via influencer marketing. Make sure the influencer must have enough followers; only then does your brand get more noticeable.
Resonance –
The level of engagement the influencer will create with the audience relevant to your business. More followers matter, as we mentioned above, but it doesn’t make sense if those aren’t interested in your product or service; instead industry-related influencers can give you a dedicated audience.
You have to research what they are posting, the rate of engagement, and no. of organic and non-organic content on their social media channels. You can also check if they have worked with similar brands before and also ask them for a portfolio, depends on what type of influencer they are and who their audience is.
Now it’s time to determine how you want to reach your potential partner. It can be started by engaging with their content without being salesy. When you find a suitable time, you can message them privately via direct message or through email with accurate information about your business, how they can help you and what’s their benefit in collaborating with your brand.
Keep a keynote in mind – Many influencers don’t like to be called social media influencers; instead, they prefer the word ‘content creator’ as they see the influencer word as a way of insult in terms of their scope of work.
Have A Look At Ecommerce Influencer Marketing Examples
Example #1: Daniel Wellington
Daniel Wellington represents a renowned brand for its men’s and women’s watches and jewelry. They are not just famous for their iconic accessories but also for being the pioneer in influencer marketing since 2011, when Instagram was at its initial stage and was not known by most of us.
Their influencer marketing strategies mostly focused on micro and nano influencers. As per their concept, sending their products to 20-25 influencers having a following of around 5000 would be more advantageous than partnering with a single influencer with a following of 1,00,000 – 2,00,000.
You can visit the Instagram profile of nano influencer Stine Skogsrud from Oslo with 10.8 k followers. She is a lifestyle influencer, and her insta page shows her travel journeys and posts related to food and her house. But as most of her posts are related to fashion, she collaborated with Daniel Wellington to promote their watches with her stylish outfits.
Example #2: SKY
SKY is a telecommunication company offering television and broadband services. Recently, they have started selling hardware along with their other services. Their television set is called SKY Glass which they are offering in a bundle that includes SKY Glass 4K T.V., SKY TV, and Netflix. Consumers just need to pay for SKY services, and they get SKY T.V. along with that.
They also take the benefit of influencer marketing in addition to other marketing methods. A lifestyle influencer and Instagram celebrity named Zoë Sugg, who has around 9.3 million followers, posts everything about her family, looks, and vacations, making her Instagram account perfect for promoting SKY; here is one ideal leisure post on her home that suites perfectly to showcase a big television.
Example #3: Duroflex
Duroflex is an Indian brand providing best-in-class sleeping solutions known for their comfy and durable mattresses as per one preference. Their all mattresses are scientifically engineered and are perfectly fit for deep sleep.
Duroflex used various marketing strategies to reach a new audience, and one of the methods they used was ecommerce influencer marketing. The company has worked with almost 200+ influencers and presented its products across multiple social media channels. The company’s main focus was on brand awareness through these campaigns.
For this purpose, they chose Alia Bhatt (India’s most famous celebrity nowadays); you can find some posts and memes uniquely promoted by their team on Instagram. Duroflex’s most popular and much-publicized campaign was “Change your Sleep – Change Your Life,” done by Alia Bhatt.
Influencer-led eCommerce is Here to Stay
Ecommerce influencer marketing can be a very effective and powerful weapon in the ecommerce space, but only with the right mindset and defined goals. Influencer marketing for ecommerce is not about collaborating with a few persons who have a large following and asking them to promote your brand among their audience. It needs well strategically planned strategies to be profitable for both parties.
Trustworthiness, authenticity, and relevancy are king when it comes to influencer marketing. They play a long-term role in lead generation and conversions without consuming much time of businesses, and that time can be invested in other segments of businesses. Read our blogs for interesting ecommerce trends and insights and if you need any help with your online business, simply get in touch with us!
