The opportunity of social media influencer marketing
In our 2020 Consumer Insights Report, we shared that 38% of consumers often discover new brands through social media and 35% have made an unplanned / impulse purchase because of something they saw on social media sites. And with 30% percent of consumers (and 51% of millennials) saying that they will try new products based on influencers’ recommendations, it’s no surprise that brands are looking at ways to collaborate with influencers to reach and engage consumers.
Measuring impact of brand-influencer collaborations
One of the great challenges which brands face is how to measure the impact of brand-influencer collaborations. When an influencer produces content for a brand, it can be hard to attribute a monetary value to that content. One way around this has been to incorporate unique discount codes. This enables brands to track any direct sales from the collaboration as well as measure which influencer provided the best ROI.
That’s simple enough for brands who are able to sell through their own stores and eCommerce sites. It is however much harder for FMCG brands, who are sell across a range of stores.
Using retailer agnostic promotions in influencer campaigns
With mobile coupons, bespoke landing pages with personalised URLS and coupons that users print at home containing unique codes, there are a number of tools which we can use to help brands engage potential buyers.
A global FMCG food client worked with us to create a digital incentive that would increase sign ups to their database. They partnered with 20 nano- and micro-influencers who aligned with their brand message and ethos. Each influencer was given a unique discount to share on Instagram with their followers. To redeem, users followed the individual links and provided their email address. The brand then sent a coupon for users to print at home. Each coupon could then be traced back to the influencer, revealing which collaboration drove the biggest increase in their audience. Based on this activity, our client was able to drive an 11% increase in their customer database.
Likewise, we worked with a leading haircare brand to drive sales for their products through Instagram using a similar mechanic. We provided five influencers specialising in beauty and haircare with unique URLs which they posted in their bios. They created posts promoting the haircare brands and alerting their followers to the discount available. Participants simply had to submit their email addresses for the voucher to be sent to them.
With both of these campaigns, consumers were then able to use discounts in whichever store they wanted, utilising the brand’s nationwide distribution. And with the launch of mobile coupons, we can only see this type of collaboration gaining in popularity.