It’s the peanut butter to your jelly, it’s the salt to your pepper, it’s the performance marketing to your influencer marketing! They might not sound as tasty, but pairing influencer marketing and performance marketing packs an irresistible punch. Historically, and not to mention statistically, they have no problem bringing in big results on their own. But, in recent years we’ve noticed they work even better together. Choosing one over the other is a thing of the past! Combining your two strategies gives you the very best of both worlds that’ll take your business to the next level! You may still be questioning if you should hop on board and to that we say, “Um yes! Why haven’t you done this already!”
The Rundown:
*Cue performance marketing, stage right. Cue influencer marketing, stage left*
The usual measure of success (we’re talking likes, views, shares, retweets, etc.) are great, but do they provide the data that you actually need to drive sales and track conversion rates? Sure they’re a great glimpse into what your audience best responds to and provide amazing insights into who the core of our audience is, but, honestly, we’re looking for more. Performance marketing metrics provide exactly that! It’s a deep dive into how your performance drives revenue and sets the scene so you can make better decisions about where you spend your money.
Performance metrics are all about capturing what influencer marketing stats are missing. Sometimes it’ll be some form of a ‘cost-per’. A cost-per-click, cost-per-conversion, or a cost-per-1000 impressions – no matter the measure, the whole concept is to take you along the buyer’s click-to-consume journey! Performance marketing has ROI’s at its core and in the end its main use is for – you guessed it – enhancing performance!
With that said, is performance marketing a game changing strategy? Yes. Is it the only answer for your strategy? No. There are a few things that performance marketing can’t do, or to better put it, there are a few things that it’s not used for. That’s where influencer marketing takes the wheel!
We Don’t Call Them Influencers For Nothing
Good influencers have followers but great influencers have friends, or at least that’s how they make you feel. Influencer fan bases have become so influential that some prominent social stars have adopted catchy names to identify the hoards of people that follow them – some we’d like to mention might even give Beyonce’s triumphant Beehive a run for its money! Millennials and Gen-Z-ers across the globe rely on influencers for today’s breaking news. You can find some of us scrolling through social media just seconds after we’ve woken up. We’re watching social media stars live it up on some beach whose name we can’t pronounce before we have had the chance to roll out of bed.
Inmar’s consumer survey reports that, “An overwhelming 95% looked to influencers for product inspiration, and 64% of respondents followed influencers specifically to learn about new products”. There’s huge potential in utilizing an influencer’s audience! One of those being copious amounts of whitelisting opportunities. Whitelisting offers something that both you and your creators can benefit from! It gives insight into what a successful campaign looks like and it gives creators a chance to understand what type of content that their viewers love the most. It’s sort of a win-win situation that allows you to build a neat little circle of trust around you, your audience, and the creator, leading to an elevated campaign. You’d be surprised how far a sprinkle of authenticity and trust can go!
Point is, people trust influencers. This means they trust influencer recommendations – where to buy, what to buy, the whole nine yards!
Better Together!
What performance marketing lacks in developing trust and brand building, influencer marketing picks up the slack. In contrast, where influencer marketing lacks in attribution to sales, performance marketing makes up for it by offering spend and revenue data. A symbiotic relationship that’s sure to excite any marketer.
Performance marketing and influencer marketing kind of need the other, and if you’re on the fence about it, you may need us. Give us a holler and we’ll lay it on the table for you. Let LMS set you up for success!