Working on influencer campaigns is not a new concept for beauty brands. In fact, a survey by Forbes shows that 67% of the women are looking to their favourite influencers for information on beauty products. But, despite their popularity, linking top talent to a revenue boost is still proving tricky for brand managers, with social media platforms not yet offering the capability in-app.
The situation is improving, thanks to shoppable posts and swipe-up links on Instagram Stories, but if you still find tracking influencer-driven sales challenging, you’re far from alone. Here, we reveal a quick fix that allows you to understand which influencers boost revenue for your brand, so you can improve campaign reporting and optimise your future strategies…
Are influencers still boosting beauty brand revenue?
The answer is yes. As Forbes’ study demonstrates, the interest in influencers is still high, but consumers’ thirst for more authentic content is driving a shift in the industry. High follower counts are no longer trust-worthy evidence of social media success, which is why an influencer identifying tool is key to discovering talent that delivers results.
More and more brands are turning to these data tools to determine which creators will help them reach their objectives, whether their goal is raising awareness, boosting brand love or accelerating sales. But, if the latter is your aim – as it so often is for beauty power players – your next challenge is understanding what revenue has been driven by each influencer campaign. So, what can be done?
How to track revenue driven by influencers
In a bid to help brands quickly and easily measure sales made through influencer campaigns, some influencer marketing solutions have introduced tracking links. This allows you to see the conversion and revenue generated through those links. The links are also associated with a specific post, so you can analyse performance from one piece of content to the next.
To implement tracking, the way in which you set up campaigns only differs slightly. After contracts are signed but before posts go live, you should provide your chosen influencer with the correct tracking links. These can be included on Instagram Stories, Facebook posts, YouTube descriptions and more, directing users to your preferred etailer or your direct-to-consumer site. Within our platform, you can then see how many sales have been made via the link, and the revenue received.
Channelling sales data into optimised strategies
The revenue data you receive can go far in improving your future influencer strategies, allowing you to test, learn from and optimise your content from one campaign to the next. Use your sales data to:
- Understand what posts and content types drive the highest volume of sales.
- Figure out what products are more likely to sell on social media.
- Test media messaging to know what calls to action or product benefits resonate with your target audience.
- Identify the best performing influencers, who may be suitable candidates for longer-term partnerships.
To find out more about how mmi can help you track revenue through your influencer campaigns, reach out to firstname.lastname@example.org or, if you’re an existing customer, get in touch with your account director.