There’s no denying the value of influencer marketing.
Collaborating with the right influencers can unlock endless opportunities to grow your business.
Through product endorsements, influencers can impact their followers’ purchase decisions and encourage them to buy. When done correctly, they can be a driving force that helps you reach your sales goals.
So, it’s no wonder that 1 in 4 marketers leverage influencer marketing. Or that 23% of brands spent more than 40% of their marketing budget on influencers in 2023.
Still, there’s a piece of value that most brands miss out on because of one common challenge.
Challenges With Influencer Marketing
The biggest hurdle is determining immediate ROI.
To measure the success of an influencer campaign, most marketers rely on metrics like engagement rates, reach and brand lift.
While still delivering value, these metrics don’t highlight the impact on your bottom line – sales.
You could invest thousands to hundreds of thousands of dollars without understanding sales attribution.
So, how do you overcome the challenges of influencer marketing to maximize your ROI? By rethinking how you use your influencer videos.
Here are Four Strategies to Drive More Value and Greater ROI From Influencer Video Marketing:
1. Add Influencer Videos to Your Website
Traditionally, influencer marketing has been exclusive to social media. But what if you brought the same power to your website?
Whether you’re collaborating with a micro-influencer, nano-influencer or a celebrity influencer, people are binge-watching their videos. So get them binge-watching your website instead.
Why would you do that? You already have the content, so you might as well get the most out of it. But most importantly, videos are highly engaging and capture the attention of web visitors.
Once you’ve got their attention, you hold the power to direct it where you want.
2. Turn Influencer Videos Shoppable
The next step to drive greater value is encouraging conversions. Do this by turning your influencer content into shoppable videos.
Add a single CTA that directs viewers to SKU-specific product pages. This makes it easy for shoppers to browse the product mentioned in the video, bringing them closer to buying.
Or, leverage StoryTap’s Shop the Look videos to take it further. Adding Shop the Look lets your site visitors buy all the products featured in the video, helping you drive more add-to-cart sales.
3. Track Website Data About Video Performance
Your website is a powerhouse for data. With more videos on your site, you have the potential to track more than just vanity metrics like engagement or reach. You can track conversions.
StoryTap’s video platform makes collecting and analyzing detailed video analytics on your website easy.
This is what sets your website apart from social media and gives you the most value from your influencer videos.
With StoryTap’s video platform, you’ll access the missing piece: sales attribution.
4. Invest Your Marketing Budget Where It Counts
With StoryTap tracking video data on your website, you can make better marketing decisions and use your budget wisely.
For the first time, you can calculate revenue earned per video to decide which influencers are worth investing in.
Collecting true ROI from influencer video marketing will maximize the value you get from your existing videos.
Bring Influencer Marketing to Your Website With StoryTap
Influencer marketing continues to be a powerful tool for marketers. But its biggest challenge is determining ROI.
By rethinking how you use your influencer videos, you’ll drive greater value.
It starts with finding the right platform to help you bring the power of influencer marketing to your website.
StoryTap is an end-to-end video platform that automates the production and distribution of binge-worthy video reviews, video FAQs, video stories, and Shop the Look influencer videos at scale.
Our platform is an easy and automated solution that helps brands sell faster on their websites. StoryTap customers see an average of 40% increase in conversions among video viewers.
Book a demo today to learn more.
