Are you a content creator with a voice and an audience that follows your content? Are you looking for a way to increase your passive income with brand collaborations? If the answer to these questions is yes, it’s time you learn more about performance marketing and how it can help you grow your reach and ultimately your social media earnings. In this article, we will deep dive into the basics of performance-based influencer marketing for content creators and marketers, the key metrics to know of and how you can monetize your influence to drive ROI led campaigns for our brand partners.
What is Performance Marketing?
Performance marketing is a marketing strategy that enhances user acquisition, brand awareness, and ultimately the return on ad spend in a more cost-effective and optimized manner for marketers. Influencers are provided with trackers or UTM links which they then integrate with their content & profile pages and then distribute via explore pages and chat apps like WhatsApp, Telegram etc. The idea is to essentially showcase your content in a way to pique the audience’s curiosity about your brand’s product or service offerings, making them interested enough to want to visit the link and explore them further. The compensation is based on predetermined KPIs (Key Performance Indicators), and advertisers need only pay for the performance delivered by the content creator. In other words, the content creator gets paid based on their overall performance post-campaign completion.
What makes Performance Marketing a viable income source for content creators?
Performance centric collaborations have multiple benefits from an influencer point of view.
You can grow your social media reach
Influencers can use performance marketing campaigns to earn income from their sponsored posts. It’s the best way for emerging “nano” and “micro” content creators (with between 1,000 and 100,000 followership) can start monetizing their content and earn guaranteed compensation based on the targeted KPI. With platform transparency provided by marketplaces such as Kofluence, you can increase your visibility and secure profitable campaign spots with relevant brands. Through useful product/service recommendations, you can turn your content viral and widen your social media reach over time.
Better performance, higher revenue opportunities.
With performance-based collabs, the campaigns are measurable, transparent, and trackable. Instead of a lump sum payment upfront, you get paid for any clicks or sales you drive on behalf of your brand partner. The earning potential, therefore, is uncapped and limitless. With limited investment in time and effort into content creation, you can earn big continually whenever someone buys through your link. The more effort you put into your content and social amplification, the more you can earn.
Owing to trackers in place, brands will be able to follow the entire user journey from their click-to-consume route. For marketers, these campaigns result in a direct organic uplift in website traffic or app downloads resulting in greater transparency. This also allows you as a content creator to understand your performance and gain valuable insights into what does and doesn’t work with your audience. With added trust resulting from actionable results, there is a synergy in collaborations between brands and influencers.
What are these metrics?
If you are wondering what these metrics are that decide your compensation potential, let us put them into perspective. The most commonly used KPIs for Performance Marketing campaigns can be broadly categorized into 3 different brackets.
Volume of Installations
Using CPI (Cost per Install), which is almost always specific for mobile applications, brands place their promotions with influencer-integrated content in order to drive installations. The content creator is paid a fixed or bid rate only when the application is installed through their unique hyperlink.
Volume of Registrations
Unlike CPI, CPR (Cost per Registration) is a pricing model wherein brands pay only for new users registered with their contact details, username, and so on.
Volume of Conversions
An acquisition or conversion refers to a completed activity. This might include a successfully completed purchase transaction or other activities such as email signups that might lead up to a sale.
Grow your online brand with Kofluence and become a performance accelerator with us today!
If you’re seriously considering building your personal brand and expanding on your social reach as a content creator, it’s time to consider performance marketing seriously. Don’t know where to begin? Download the Kofluence app and find relevant campaigns catering to your target audience! To opt-in, download the Kofluence app here: iOS users, Android users.