Optimize Shopify Conversion Rates with Influencer Marketing in 2021
Influencer marketing is one of the best ways to grow your Shopify business. It has an excellent return on investment (ROI), estimated to be around $5 for every $1 spent. Market analysts expect it to be worth $13.8 billion in 2021.
About 50% of brands that use influencer marketing have eCommerce stores. If you’re not investing in it and your competition is, they might be getting the lion’s share of conversions. But with influencer marketing, it’s never too late to get started. There are millions of influencers out there across different platforms.
In this article, we will talk about some effective ways to use influencer marketing for your Shopify store. Along with this, we will see how that can skyrocket your conversion rate!
Why Should Shopify Stores Leverage Influencer Marketing?
‘Influencer’ might be a new buzzword but it’s an old marketing technique. Brands have been using celebrities to promote themselves for a very long time. Michael Jordan has been the face of Nike for decades. So people who loved Michael Jordan also became fans of Nike.
With the rise of social media, a new kind of celebrity entered the arena. Businesses shifted their attention from conventional celebrities to influencers on social media, and for a good reason. Consumers can relate to and connect with influencers they follow at a greater level.
That’s why influencer marketing is one of the best ways to build trust with consumers. The right influencer feels authentic. Their audience perceives them to be someone who has their best interests at heart. So when an influencer reviews or endorses your product, consumers feel like they’re getting a recommendation from a friend.
Millennial consumers don’t care about advertisements. Many are annoyed by them and use ad blockers on their devices. According to a survey, only 1% of millennials would trust a brand after watching a captivating ad. But 40% of people say that they bought something online after seeing an influencer promote it on YouTube, Instagram, Twitter, etc.
Influencer marketing is highly targeted. People who follow an influencer usually have shared interests. If those interests align with your brand, you have the opportunity to target an audience who will find value in your products. When you promote them through a person that they value as well, you might find loyal customers in the influencer’s audience.
Finally, influencer marketing can increase brand awareness in more than one way. The influencer you collaborate with might rave about your product, and then their followers might buy it and rave about it too. That gives you user-generated content and social proof on the influencer’s social media. With influencer marketing, you can also improve your online store’s SEO. You will get backlinks to your online store and more visibility.
5 Ways to Optimize Shopify Store Conversion Rates with Influencer Marketing
Influencer marketing is a powerful strategy to grow your Shopify store but you can also go wrong with it and throw money down the drain. Here are five ways to make sure you boost conversions and make money instead of losing it.
1. Leverage Micro & Nano Influencers If You’re A Small Business
If you’re a small business, influencers like Kylie Jenner and The Rock are not an option. But you don’t need them. You can choose influencers with a smaller follower count but high engagement and loyalty.
What Are Micro & Nano Influencers?
Micro-influencers have around ten to a hundred thousand followers on social media and nano-influencers have around a thousand. Despite their relatively low follower count, they have a fanbase and high level of engagement.
How to Leverage These Influencers?
The first thing to consider before recruiting micro-and nano-influencers is whether they align with your brand’s values, character, and story. Let’s suppose you sell yoga mats on your online store. A pilates instructor is a better influencer for you than a marathon runner, even if the latter one has a higher following and engagement.
After you find the right kind of influencer, you can recruit a lot of them. It will give you tons of user-generated content when followers engage with influencer’s social media posts about your products. You can feature the influencers on your own social media as well. And even if consumers don’t know the influencers, they will find relatable people using your products, giving you more social proof.
You can also run campaigns with the multiple influencers you recruit. For example, you can start a hashtag campaign on Instagram that different influencers can take forward. Influencers can have sponsored posts as well which will have a higher engagement rate than ads. You can offer discounts and coupons through the influencer’s posts to encourage more people to buy your products.
The Benefits of Leveraging Micro & Nano Influencers
You can get many micro-and nano-influencers in the same budget for one macro-influencer. When you have multiple influencers, you can penetrate many different small markets and niches. You can also represent diversity and inclusivity when you choose these influencers, improving your brand image.
These influencers might not have a huge following, but both have a high level of engagement. They also have a stronger relationship with their audience. They are trustworthy and relatable. Their followers trust their opinions and that translates to more conversions for you.
Micro- and nano-influencers also use their creative strategies to promote your brand. Sometimes, they may be more dedicated to the success of your product than even you are. An influencer that genuinely loves your product is an excellent asset for your business.
2. Make Sure You Do A Background Check On the Influencer Beforehand
If influencer marketing doesn’t get you a good ROI, your strategy might be a bit off. Here’s a checklist that you should go through before you choose an influencer.
Check their Page’s Engagement Rate
The first thing you should measure is the engagement on the influencer’s social media handles or blog. For example, if the influencer is on Instagram or Facebook, you can see their likes and comments.
Dividing the average number of these with their followers and multiplying by a hundred will get you the engagement rate. Generally, a 2-3% rate is good, and higher than this is even better. You can also check retweets on Twitter and comments on blogs.
Check the Quality of their Followers
You want to make sure that the influencer’s followers are relevant to your brand. A targeted audience is the key to getting more conversions. It’s helpful to assess the demographics of the followers. For example, if your brand targets young women, you should see if the major age group and gender of the followers are what you’re looking for.
Have A Look At The Type of Content They Post
It’s crucial that the existing content of the influencer you choose matches the ethos of your brand, otherwise their brand promotion won’t be authentic. Their followers might not have interests relevant to you, and you might be targeting the wrong niche.
Ensure the Number of Followers Is Apt for Your Business
Expanding your outreach will get you more conversions, that’s why a higher follower count matters. However, an influencer with a lower engagement rate might have enough followers to compensate for that, still allowing you to reach more people.
Check the Reach If Your Influencer Is On Instagram
When you want to scale your eCommerce business, getting unique visitors is important. You can ask influencers on Instagram for their reach to see how many unique visitors they can get you. A third-party tool like Fohr Card can also help.
Ensure If the Influencer Fits In Your Budget
Influencer marketing is exciting but if you move too fast, you might empty your tank very soon. If you have a limited budget, try offering influencers free products. And if you’re paying a flat rate, make sure you measure the ROI and results.
3. Track the Success of Influencer for Your Store
Many brands measure the success of influencers through the engagement that their posts get. But even though high engagement is great, the true metric for the success of your influencer marketing strategy is conversions. That’s why you should track the revenue and traffic coming in from your influencer campaign along with the engagement.
One way to track revenue is to provide affiliate links to the influencers. You can then track their click-through rates and conversions. You can also track the promos and discount links you provide to influencers. Google Analytics and similar tools can show you how much traffic is coming from the influencer’s blog or social media handles.
Another way to track revenue is to use the isolated marketing strategy. Have an influencer promote only one product and check if the sales of that product have risen. Not all consumers will make a purchase on impulse when they see an affiliate link or discount. Observing whether the influencer helped increase the sales of an isolated product will give you an understanding of their impact.
The key performance indicators of your influencer marketing strategy are engagement, traffic to your Shopify store, and revenue generated. But another factor that you should not forget is brand perception. Observe the conversations around your brand. For example, you can have a look at the comments.
If the influencer helped people see your brand in a positive light, you would eventually get more conversions and loyal customers.
4. Sponsor Giveaways And Contests
Everyone loves freebies. And when you add the thrill of competition to the mix, people love it even more. That’s why hosting giveaways and contests is a clever marketing strategy. But you need a large audience for it to be successful.
That audience should also want the giveaway. For example, if you’re giving away chocolate bars to an audience full of fitness freaks, nobody will want them. Influencers have the solution to both of these problems. They have a significant follower count and the right influencers also have a targeted audience and niche that can be relevant to your brand.
That’s why it’s better to get an influencer to host a giveaway than doing it yourself. Many consumers also perceive giveaways and contests as scams. But consumers find it easier to trust the influencer they follow. They may be skeptical of contests from brands they’ve never heard about. But when an influencer talks about it, they might not hesitate to participate. They will also feel more excited about the contest because it’s hosted by someone they love.
And while the contest goes on, you can also step in and try to establish a relationship with the participants. For example, you can get them to sign up for your mailing list. The positive experience that the participants will have from the contest might turn them into loyal customers of your brand. That’s one way to get your influencer’s followers to become your followers too.
5. Get Influencers to Give Reviews On Your Shopify Products
Influencers can give you valuable social proof when they leave a review on your Shopify products. Their opinions leave an impact on people and can convince them to buy your products. But make sure to ask the influencers to leave an honest review with both pros and cons. You don’t want them to give a biased review that seems fake.
The reviews that influencers give can help you make better products. You can also take the feedback, improve your product, and ask the influencer to review it after the changes. This will show the audience that customer opinions matter to you and build credibility.
Skyrocket Your Conversion Rates with Influencer Marketing
Influencer marketing can be a game-changer for your Shopify store. Influencers have a significant impact on their followers, and they can sway them towards buying your products.
In today’s digital world, people are exposed to a lot of flashy content that’s trying to sell them something. But, ads are not that effective, being easy to dismiss.
People value human connection more than ever and influencers can provide this. While they’re connecting with people, they can subtly promote your brand. Potential customers would definitely see the products you’re selling as friendly recommendations. And guess what? This would bring sales!
Azfar is an eCommerce ninja at Conversionskitchen.com, who has been writing awesome stuff about eCommerce for over 4 years, you’re more than welcome to have a look at his extensive write-ups on our blog.
For more tips on improving your store, check out our other articles here on Autoketing.
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