So I think it is a pretty commonly known fact that there is tons of money to be made with influencers (especially on instagram), but I have found that many people are still struggling with it so I wanted to put together a little post that will hopefully help clear up any confusion.
I recently did a post with a page with 257K followers that I paid $10 for and made back $457 which after product cost was over 30 times my original investment. Pretty cool. But how can you actually find 10-20 similar pages and scale?
There are basically 3 things that must be in place before you are able to make one sale, let alone 30X your investment. I have written out the details here. I also made a video breaking down the strategy so if you'd like to see that as well I'll leave a link... https://youtu.be/uzoy0yPnpbM.
STEP 1 - Have a perfect product audience match
It is absolutely vital to make sure your product is #1 selling well and #2 niche specific. I like to find products that are making tons of sales right now. Ideally I'd like to see at least 3000 orders and at least 10 orders made every single day. This proves that it is a seller.
After that, it's all about finding the perfect audience match. To use the example in the video, I found an ab stimulator workout item that had over 30,000 orders and over 100 orders per day consistently. From there I identified that the target audience would most likely be people interested in weight loss, the gym, or getting a six pack. BOOM! There's our market!
STEP 2 - Find Solid Influencer Pages
So armed with the knowledge of our target market, we can now scour instagram for the perfect page that we can promote to. I have a few rules that I like to stick to when it comes to picking a page.
- 1. Find pages between 100-300K Followers to test. Any smaller, and the results will be minimal. Any larger and you will be spending upwards of $50+ - Something I don't like to do when testing.
- 2. Make sure the engagement is at least 2.5%. You can find this using an engagement calculator.
- 3. Verify the following is real and consistently growing using socialblade.com
- 4. Verify the legitimacy of the comments left on individual posts. Make sure they are real comments (not things like WOW, COOL, GROOVY BRO) and check individual profiles to make sure there are not mostly minors.
- 5. Reach out to the influencer and negotiate a rate. I usually like to aim for $10 per 100K followers
STEP 3 - Optimize For Conversions
There are tons of ways to optimize your website from conversion apps to design to pricing. I think the best strategy is to literally just find what your competition is doing and take the average of your favorite/bestselling 3 sites. I especially like to do this when looking at what to price my products at. Simply type the name of your product into google like so site: myshopify.com "product name" and hit search and you will be greeted with a gold mine of information. Just take a look at the top 5 results and you will get a great Idea of how to move forward.
I hope this helps and if you're interested, I shot a youtube video detailing the exact process I go though in depth. You can find that video here https://youtu.be/uzoy0yPnpbM.
Best Of luck guys and if you have any questions I'm always happy to help