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Thinking about giving influencer marketing a try? The stats are on your side.
Influencer marketing hit $13.8 billion in 2021 and is set to expand an extra 19% to $16.4 billion in 2022.
Whether you sell clothing or car accessories, influencer marketing effectively gets the word out about your brand, builds consumer trust, and drives sales.
And, if you sell on Shopify, good news!
Shopify is one of the latest brands to tap into the booming creator marketing industry with a new program, Shopify Collabs. Built to help brands like yours win big by working with influencers, this unique offer is causing a stir in the eCommerce and influencer marketing world.
This post will explore the ins and outs of Shopify collabs and how you can get in on the action.
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Shopify has launched a free tool to help businesses collaborate with influencers. The aim of the game is to make eCommerce brands and creators more discoverable to each other and drive revenue for participating parties. Here’s a quick breakdown of how Shopify Collabs works:
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Before tools like Shopify Collabs, brands were left to fend for themselves when it came to learning how to collaborate with influencers successfully. This included managing fees, terms, and campaign optimization with multiple creators simultaneously.
The other alternative was to shell out for agency help. However, this choice increased their marketing spending with no guarantee of results. This made it only viable for brands with large advertising budgets.
Now brands big and small have tools like Shopify Collabs to make informed decisions on who to work with to increase their odds of success.
Shopify Collabs could also be a lucrative opportunity for creators hoping to go all in, increase their takings, or strengthen their brand. Just 4% of influencers currently create content full-time.
These factors combined help to enhance the available talent in the creator pool and willing participants in the merchant group, increasing the odds of good matches.
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If you’re wondering whether Shopify collab and creator marketing are just more fidget spinner-style fads destined for the trash, think again! When used correctly, they can drive strong results for your brands. Let’s explore some perks you can expect:
Influencer marketing allows you to explore new audiences and territories to find more highly engaged buyers. Also, shoppers have different places they enjoy spending time online. Mixing up the creators you work with can also find other profitable audience segments you would have missed when focusing on alternative marketing channels.
There’s something about UGC that screams authenticity and gets people buying. Email campaigns with visual UGC report conversion rates 25% higher than those without and UGC boosts web conversions and campaign results by 29%. So, UGC is worth its weight in gold, and with influencer marketing, you get it in droves. From audience members participating in influencer giveaways to heartfelt video testimonials crafted by creators, influencer marketing can help you secure this type of conversion-boosting content.
PPC ad costs are on the rise. Google racked in $61.2 billion from ad revenue in Q4 2021, which amounts to a staggering $15 billion rise compared to the previous year’s final quarter results.
With these price hikes, you must look for alternative ways to market your brand and protect your margins and ROI. That’s where influencer marketing comes in. Boasting an ROI 11x that of banner ads, influencer marketing is a cost-effective investment.
Plus, with more AI-backed tools and collaboration-boosting platforms entering the market, influencer marketing is poised to be more profitable than ever.
When you’re just starting out or in a competitive niche, it can be challenging to get the word out about your brand. Working with an influencer with a growing following can be just the push your brand needs to be seen, pull your products into the limelight, and take your store global.
Some influencers have fiercely loyal followers who believe in and trust them, especially those with younger audience demographics. 62% of 18-29 year-olds surveyed said they trust influencers more than celebrities, and that figure jumps to 92% for micro-influencers. By working with creators, you can piggyback off their relationships with consumers. In turn, this will increase your perceived trustworthiness and credibility to skyrocket sales.
Competition for people’s attention online is growing stiffer. So to win at influencer marketing with the Shopify Collabs tool in hand, you’ll need some know-how, cash, and patience. Let’s dive into some steps to get the best results:
Before you dive into working with influencers on the Shopify Collabs platform, it’s important to understand what’s in front of you. Take a tour of the Shopify Collabs tool, read its resources, and play around with the features until you have a solid understanding of the lay of the land.
Is it more traffic you’re hoping for? Or perhaps it’s an uptick in qualified leads and sales you’re after. Whatever it is, it’s vital you jot down a clear objective for every campaign.
Next, create a realistic budget to match your plans. For example, if you want to focus on collaborations with micro-influencer, you can have a smaller cash pot for inventory and payment. On the other hand, if you intend to partner with celebs and well-established creators, you’ll need to account for higher reimbursements, legal fees, and admin.
Like most marketing channels, finding your sweet spot takes a few swings. There are a few things you can do to improve your campaign results. For example
Collaborating with influencers to create awesome content is critical. However, how you distribute it will decide how much you get out of a campaign. Some ways you can distribute your influencer marketing content for maximized utilization include:
Influencer marketing is one of the hottest opportunities for eCommerce brands and creators. But to see success in your influencer campaigns, you’ll need to go in with a documented plan and the desire to make it a reality.
Use Shopify Collabs to streamline your influencer research and negotiations. Work with influencers whose content style and image match your brand and tell exciting stories that resonate with your audience. Before you know it, you’ll have a profitable influencer marketing strategy to aid your store’s expansion.
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