Why Change Attribution Promo Codes And Affiliate Links To Measure Influencers ROI?

Why Change Attribution Promo Codes And Affiliate Links To Measure Influencers ROI?

There’s no doubt that when done effectively, influencer marketing can create a huge boost in brand awareness and revenue. Just take a look at these three statistics that show how effective influencer marketing is today:

  • 70% of teens trust influencers more than traditional celebrities.
  • 86% of women use social media to seek advice.
  • The influencer marketing industry has outgrown the pressure and is expected to reach $13.8 billion by 2022.

There is no doubt that influencer marketing is here to stay and is only expected to grow. After the excitement of securing the perfect partnership has faded, the next big question on every marketer’s mind is whether their partnership is paying off.

Why is it difficult to measure influencer campaigns?

Traditionally, influencer marketing campaign results were based on two main metrics; promo codes and affiliate links to track resulting purchases:

  • Promo codes: A discount code created specifically for the Influencer campaign.
  • Affiliate links: A specific URL containing the influencer’s name or identity.

Promo codes are now largely flawed metrics because of their great buying motivations, ease of use. Think about the last time you shopped online. Have you used a coupon finder browser extension like Honey? Or maybe you scanned the web for promo codes? So you’ve been accused (including me) of confusing a marketer’s campaign metric.

Affiliate links benefit both the creator and the brand, often offering the influencer a commission and a way to track the resulting purchases for the brand. However, it is not uncommon for social followers to bypass the affiliate link by researching the brand or revisiting the brand at a later date.

The truth is, promo codes and affiliate links are useful, but they become outdated and imperfect to measure campaign success (but don’t get me wrong, I love them). Fortunately, there is a better way to accurately determine the ROI of your influencer campaigns. attribution.

Social attribution: What is it and how does it work?

What is a citation?

Attribution in a marketing context is identifying customer touchpoints that contribute to the desired outcome (usually a purchase) and then assigning values ​​to each of these events (usually a return on investment). While attribution itself is not a new concept, applying it to social media marketing efforts (such as influencer marketing) it is. But thanks to new technologies, this is no longer the case.

How does attribution work for social campaigns?

Until recently, there was no easy way for marketers to identify individuals exposed to a social media campaign and link conversion data back. Social audience data through social audience insight technology platforms has allowed marketers to identify exposed social audiences and then map them back to Personally Identifiable Information (PII) for the first time.

This data includes a social user’s name, hash email, zip code, device ID, etc. includes. It is this information that enables marketers to overlay the exposed audience with first- or third-party sales data to understand the true ROI impact of certain influencer campaigns.

Here’s a step-by-step guide to see exactly how attribution works for social campaigns.

To take this a step further and show how social attribution works in the real world, let’s look at an example from the partnership between mega influencer Charli D’Amelio and Dunkin’ Donuts.

Charli D and Dunkin’ Donuts

Campaign: Charli D’Amelio is a famous TikTok influencer largely popular with Gen Z. He has a staggering amount of followers – over 133 million. Seeking to leverage its influence, Dunkin’ Donuts teamed up with Charli on an influencer campaign with a specific goal to increase usage of their mobile app.

Charli took to her social channels to promote her signature Dunkin’ Iced Coffee, aptly named “The Charli”, and encouraged her followers to order through the Dunkin’ App.

Results: Prior to the campaign, Charli’s fan base spent much less on Dunkin’ Donuts than the average US consumer. But during the campaign, Charli’s fans spent an incredible 44% more than the average US consumer, proving to be wildly successful.

Attribution: The Future of High Impact Marketing Campaigns

Influencer marketing campaigns are only getting more popular every year. But they too

it’s getting very expensive. Making sure you fully understand the return and sales growth that results from affiliate marketing is crucial to ensuring future budget and growth for your influencer marketing program.

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