When you’ve hit a bit of a sales slump, it’s easy to spin yourself a web of excuses.
“It’s just that time of year…”
“No one has money to spend at the moment…”
“Maybe my products or services are the problem...”
Nope. You have a first-class product or service, your audience just need a little extra push to purchase from you.
So, you can just sit and stare at your PayPal account praying for a new transaction - OR you can up your marketing game and start collaborating with influencers within your niche!
What the heck is influencer marketing?
Influencer marketing means reaching out to and collaborating with influencers + authorities within your niche to promote your biz.
But who are 'influencers'?
An 'influencer' is somebody that has an authority and a level of influence within a certain niche. It could be anybody from a human rights campaigner to a local chef to an international superstar. As long as they have measurable influence over their respective audience, they can be considered an influencer.
How can influencer marketing boost your sales?
As the name suggests, influencers have influence over your audience; your ideal customers respect and listen to their recommendations and reviews.
If an influencer recommends your product or service to an audience that is inline with your own ideal customer, you can be sure that your sales will skyrocket! Let’s look at the stats, shall we?
92% of consumers turn to people they know for referrals above any other source
84% of consumers say they trust peer recommendations more than all other sources of advertising
Marketing-inspired word-of-mouth generates more than twice the sales of paid advertising
Businesses are earning $6.50 for every dollar spent on influencer marketing
That last statistic is AMAZING! You can literally make your money back through influencer marketing - but that’s only if you do it right and implement a killer collaboration.
To get you on the right foot, here are 4 collaboration ideas for a business owner in a sales slump.
Instagram Story Unboxing
This idea is perfect for you if you sell a physical product and you’re in love with your packaging. You should partner with an Instagrammer within your niche to film an unboxing of your awesome product!
Instagram is a GOLDMINE for finding influencers and I give you the exact strategies I use to find them in my course (Influencer Marketing Masterclass). Once you have found and approached an Instagrammer you’d love to work with, offer to send them your product (or a collection of things) in return for an Instagram story of them opening your package and talking about your brand.
Pros: No limit to amount of videos the influencer can post in their story / Can include video, still image, and text / Can include tags and links in text / Easy to measure how many views & replies the content received.
Cons: Users can’t click links within the video / Can’t link to your brand’s social accounts / 24 hour lifespan.
Monthly Favourites Integration
If you watch a lot of YouTubers or read a lot of blogs, you’ll know that ‘Monthly Favourites’ posts are hella popular.
Whatever the niche, the influencer brings together their favourite products/services/brands from the past month and adds links to buy in the blog post/YouTube description. These are very easy to integrate products & services into and consumers are used to seeing this type of content sponsored by a brand.
Monthly favourites are certainly not the most creative collaboration but they are an extremely effective form of word of mouth. I know I’m certainly not the first person to rush out and buy something because an influencer has recommended it.
Pros: Straight up recommendation, which is extremely effective / You can include a tracked link to measure amount of clicks to your site / Works well for products or services / Popular content that fits in with the influencer’s regular posts
Cons: Not a dedicated video around your brand / Can be pricey for a YouTube integration
‘Must-Haves’ or ‘Essentials’ Post
You could always work with an influencer to include your brand in a ‘Must-Haves’ or ‘Essentials’ post.
For example, if you were a jewellery designer, you could approach an influencer to create a collection of ‘Must-Have Fall Accessories’ and include a piece from your brand as the main attraction.
I love this approach because it provides a purpose for the audience. Instead of just solely focusing on your brand with something like a review post, this should solve a problem for the audience in some way.
This could work on a blog, YouTube channel, or even as an Instagram photo. Give the influencer creative freedom here to create something that they know their audience will love!
Pros: You can easily link to your site in a blog post / Your product or service is positioned as the solution for the audience’s problem / Blog posts have a long lifespan
Cons: Can detract attention away from your brand
But, what about budgets?
You could find that influencers require a fee for any of these activations, which is completely understandable! If you have a high-value product or service, you might be able to negotiate with them a little as you’re providing them costly.
You’re likely to break-even (and then some) in new sales resulting from these collaborations. Just like investing in a Facebook ad, it usually ends up worth investing in the influencer when you see your sales start to roll in!
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Zoe Linda is a social media strategist and influencer marketing expert. Zoe helps passionate small business owners stand out online through clever collaborations and spectacular social media! She also writes about blogging, social media, and business over at zoelinda.co.uk.
If you want to learn more about influencer marketing, head over to Zoe’s brand new e-course and get an incredible $440 worth of bonuses!