Performance-Based Influencer Marketing Agency – Harness Its Power
There is no denying the fact that influencers have grown from an add-on experimental part for a brand to a ubiquitous force that dominates a wide array of the social space. Influencer marketing plays a significant role in most brand budgets. According to a prediction from Business Insider, by the end of 2022, influencer marketing investments will reach $15 billion.
While more and more brands are leveraging influencers, the question is, how do you choose the relevant and authentic content creator for your brand? How can you attribute the performance metrics back to your brand success? This is where the benefit of a performance-based influencer marketing agency comes in.
It is true that you will find a myriad of influencers online. A lot of them will have millions of follower counts, likes, comments, and high engagement. Different influencers have different genres/niches. That’s exactly why it is difficult to tie the influencer activity with your brand objective.
Here is how a performance-based influencer marketing agency can help you in getting the best results.
How does performance-based influencer marketing work?
The basic concept of performance-based influencer marketing is the influencer’s results will determine the degree of his/her compensation. Results can come in different forms of performance metrics. Thus, we present you with a tabular overview of the different performance metrics and the tools to analyze them.
Platform for Analysis
|1||Click-Through-Rate||The landing page of a website|
|2||Sales Generated||Google Analytics|
|4||Traffic in a Website||Google Analytics|
|5||Downloads from a Resource||Google Analytics|
Also, the success of your performance metrics will depend on other parameters like the budget, the quality of the creative, other running campaigns, the size of the audience, and more. In general, if you have a successful influencer marketing campaign, you will see a lot of upticks in the relevant metrics.
The different types of performance-based influencer partnerships
There are two different forms of partnerships with influencers.
Affiliate Marketing Partnership – The first one is the affiliate marketing partnership. Here is where a brand offers influencers with a certain link or code to include within the content that they create and share with their audience. This is what drives traffic/customers to your brand.
As a brand, you can track the activity garnered from a particular link and you can pay the content creator accordingly. If the intended action is to generate more sales, the payout can be a certain amount per sale, or a percentage of overall sales, or the first 100 sales. Thus, it depends on how much “value” the influencer is able to bring to your brand.
Paid Campaign Partnership – In this type of partnership, the influencer is paid a flat fee upfront. You can pay more after the campaign, depending on the results and metrics. As a brand, you can ask for the influencer’s engagement rate or the results from a similar previous campaign.
This also works as a form of validation that the influencer has an active audience. As a brand, you can offer the influencer different customized links or codes to share and can reward an added percentage per click or sale. In this form of the model, it is easier to predict the value of the influencer.
How a performance-based influencer marketing agency evaluates influencers?
First of all, a performance-based influencer marketing agency will build up a list of the relevant influencers. After that, there are a few steps used to measure the authenticity and influencer of the content creators. To identify the best and most relevant influencers for your brand, it is important to consider the following:
- Website authority/domain authority
- Relevance & Interest
- The Social Authority
- Quality of the Content
- The Track Record
1. Website Authority
You will find a lot of influencers who have a great social media presence but they cannot bring a lot of traffic to their website. In an ideal world, the influencer should have been able to get traffic for both the website and the social media platforms as well. There are two ways to measure their website authority. They are:
- Getting access to the analytics
- Using SEO tools for reviewing them
A lot of influencers might offer you read-only access to the analytics where you can see the traffic generated, the clicks on ads, email subscribers, product purchases, engagement metrics, and more.
A performance-based influencer marketing agency will use premium tools and software to review the SEO of the website. The authority of a website is evaluated on different factors like the quality of inbound links, backlinks, and link profile. Knowing the authority of a website is a good indicator of the strength of any domain. It will give an idea of how much traffic the content creator can bring to your website.
2. Relevance & Interest
So, you come across an influencer who has got 10 million followers and also thousands of views. Now you are pretty excited.
The content they create and the audience they bring are not at all relevant to your campaign goals. Thus, they won’t have any interest in your niche. So, it’s time to move on.
If you find an influencer who creates and publishes content around your product or brand, then they can still garner some engagement and interest. However, you still need to do some research. Look at the following factors:
- Is there any obvious interest in the topics that you want to promote?
- How frequently do they talk about these topics?
- How are the engagement levels of these topics?
- Do they have any unique voice that your audience can relate to?
A performance-based influencer marketing agency can figure out these elements with thorough research and analysis of their content and capability of engagement.
3. The Social Authority
As we mentioned earlier, there are a lot of influencers who have a strong social media presence but a neglected web presence. Similarly, there are influencers who have a strong website but a weak social authority. The influencer evaluation system will take this into account.
While evaluating the social authority, a performance-based influencer marketing agency will consider the following:
- The number of followers – Yes, it is true that the ‘number’ of influencers don’t really matter, but when it is combined with other factors like engagement and audience, then it becomes important.
- Audience – Again, an influencer has 10,000 followers but they are not the audience you want to target. Thus, they are not the audience you want for your brand.
- Engagement – Are people getting engaged in what the influencers have to say? For instance, there can be high engagement, but it can be all negative. Negative engagement is also considered as engagement, but you would not want that for your brand, right?
4. Quality of the Content
It is important to associate your brand with such an influencer who offers super high-quality content for his/her audience. The content of an influencer is evaluated by the following factors:
- Check how many shares have been there on the content and what are they saying about it.
- Look at the link profile for the recent content because if the content is of high quality, then more people will link to it.
- Check the comments that people leave on the post of the influencer throughout different social media channels.
5. Track Record of the Influencer
This is a really important factor but a lot of times brands overlook it. It is important to know what has the influencer done with his/her clients in the past. Is there any proof of how effective the collaboration was with previous clients?
Good influencers will not only have testimonials from different companies, but they can also share reports of the campaign they have worked on. You would want to work with people that have a proven track record of success with different brands.
Why should you hire a performance-based influencer marketing agency?
1. They connect brands with relevant influencers
This is the first and foremost reason to connect with a performance-based influencer marketing agency. Getting the right influencer for your business will be a time-consuming process if you want to do it all by yourself. The success of any influencer marketing campaign will depend on the match between an influencer and the products/service of a brand. A performance-based influencer marketing agency will find you the most relevant and effective influencers. You want to build your brand and their job is to give you the means to it.
2. They will choose the right social media platforms for the campaign
A performance-based influencer marketing agency can help you figure out the social authority of an influencer. You have to work with influencers with a strong social community. Therefore, it is so important to choose the right social media platform to ensure the success of a campaign. Thus, they know which influencer can help you grow your brand on which social media platform.
3. They have the right tools to evaluate the authenticity of influencers
A performance-based influencer marketing agency has the cutting-edge tools and software to evaluate a wide array of metrics for an influencer. Being a pioneering performance-based influencer marketing agency, Sylo offers real-time data that evaluates the business impact an influencer can have. The data-driven prediction enables brands to estimate an influencer marketing campaign performance. Also, Sylo offers the influencer authenticity certification that ensures the genuineness of an influencer.
4. Monitoring the Influencer’s Posts
A performance-based influencer marketing agency will take care of monitoring the posts as well. This will help you know whether the influencer is following a strategy or not. They will also make sure to monitor the content that is shared by the influencers. They will analyze the posts and reviews throughout the campaign and study the stats and conversion rates. Even they can create a post-campaign evaluation report to check the success rate.
5. Saving Your Time
Choosing the influencers, evaluating their authenticity, their contents, followers, analyzing their posts, reviews, all are tiring and time-consuming work. Being a brand owner, it will not be possible for you to keep track of every element.
When you choose a performance-based influencer marketing agency, you delegate the task to the experts. They will take care of the research and review of the content that the influencers create for your brand. In this process, they will free up most of your manual work so that you can focus on the important aspects of your business.
MeetSylo – Your Preferred Performance-Based Influencer Marketing Agency
Influencer marketing is one of the most important aspects of a business if it can be used in the right way. When you have the support of a performance-based influencer marketing agency, it helps in developing a brand reach and revenue without you having to worry about the choice of influencers.
Sylo’s influencer marketing approach comes with a high-frequency, always-on, and totally verified data collection. Sylo certified influencer marketplace will identify the best performing influencers for your brand. Also, it increases media efficiency with a customized performance indicator algorithm.
With predictive analytics and real-time optimization, Sylo manages paid media that is tweaked to achieve the campaign KPIs. Also, Sylo will monitor the goals and offer optimization insights that drive the campaign performance. with verified metrics, you can accurately measure the campaign impact. We only collect verified data for monitoring all activity of influencers.
Thus, if you are a business organization looking to connect with authentic content creators, connect with Sylo. Being a leading performance-based influencer marketing agency, we shall take the hard work off your plate.
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