How to Do High – Impact Influencer Marketing on A Budget

A Practical Guide for Data-Driven Influencer Marketer

How to work with influencers on a budget – Intro – navigating influencer marketing. When you think of traditional influencer campaigns, mega influencers and
Celebrity influencers are the first thing that comes to mind.

With eye-wateringly high pricing and little to no accountability when it comes to reaching your goals and getting results, this can be an expensive and frustrating experience for brands on a budget.

But it doesn’t have to be. You can do it differently. Learning how to run high impact, low-cost campaigns is essential for success. At its core is changing your way of working to be more strategic.

Utilizing influencers, pricing models, and content in combination with tracking campaigns to see real, measurable results and optimizing is where you will start making a real difference to your influencer marketing strategy. Tapfiliate can help you to do that.

Our in-depth guide will help you discover how you can change your way of working with influencers while staying on budget.

Let’s dive in!

Make use of different payment models

Influencers work with several payment models, and there is no “one size fits all’ pricing model. That’s why it’s crucial to figure out what type of payment model works best for your brand in collaboration with the influencer so that it’s a win-win situation.

Additionally, it is important to understand that different content types and different influencer types can impact the pricing. Your strategy here is essential. More on how to leverage content types and match your goals to different influencer tiers later.

Influencer payment models

First, the different payment models:

But how do you get influencers to agree to different payment models without paying a huge upfront sum? We’ll show you how later.

Regardless of the payment model you are using, it is essential to make sure you are tracking the results of these campaigns.

Tapfiliate can support you with tracking these payment models – you can see the number of clicks, conversions (with amounts in the order currency), the influencer who referred to the sale, campaigns, and more.

Check the screenshot below for a sneak peek:

Track your ROI

Tracking your return on investment is a vital aspect of any influencer campaign. By tracking ROI, you will know what works for your brand and what doesn’t.

Using the data, it’s possible to optimize future campaigns to leverage what works and what doesn’t for your brand, saving you time and money. This increases your chances of success, sales, and further growth.

There is a simple formula for calculating ROI.

You need the amount of money earned by your campaign – Sales revenue.

You need to work out your costs Pricing model, fees, freebies,
coupon codes, etc.

ROI Calculator

The number that you’re left with is your return on investment. Doing this for every influencer campaign that you do can help you see what influencer type and campaign works best for your brand and where you need to tweak.

While traditional Influencer marketing software reports brand mentions from influencers, you can use Tapfiliate to track the actual orders, clients, or leads coming in from those mentions with the influencers you choose to work with.

You end up having two buckets of data: brand awareness and ROI. This will help you make data-informed decisions when distributing your influencer marketing budget, which is key to driving future growth for your influencer marketing campaigns.

You can see data from individual influencers over a set period of time and use the data to optimize your campaigns in the future.

Read Much More Inside…

How to align influencers to your goals using the 4 tiers

Take advantage of brand affinity and audience demographics

Use different content types

Influencer content types vs Relative costs

Create great relationships

Work with more than one influencer at a time

Budget for boosting posts and remarketing

Estimate your ROI

Chapter 2 How to find influencers to work with

Open up your search with bloggers

Be strategic with Google Search

Run an email campaign

Research popular hashtags in your industry

Search on LinkedIn

Go through your own Instagram followers

Use BuzzSumo to help you find influencers

Chapter 3 How to approach and convince influencers to work with you

Interact with them on social media

Tailor your pitch

Offer incentives

Plan ahead

Chapter 4 How to track your influencer campaigns

Intro – the two ways of tracking

How to track using referral links

How to track using coupon codes

Summary

You’ve seen that influencer marketing on a budget is possible by being strategic and tracking the data using Tapfiliate. You can now go data-driven with your influencer campaigns, track the actual ROI, maximize impact and optimize budget. Feel free to reach out to Team Tapfiliate with any questions or comments, and stay tuned for more influencer marketing features in our tracking tool.

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Regards, Coyalita

Behavioral Health Rehabilitative Specialist & Addiction Counselor

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