Our guest author briefly explains influencer marketing, performance marketing, performance-based influencer marketing, and influencer-based performance marketing.
Everyone is familiar with the term ‘influencer marketing’. Thanks to Internet penetration, and social media channels like Instagram, YouTube, Facebook and TikTok, the hunger to consume new and fresh content is growing day by day.
‘Performance marketing’, on the other side, is a growth-enabled and cost effective type of digital marketing, where you focus on channels to grow instantly, with an optimised customer acquisition cost (CAC).
What is influencer marketing?
To understand influencer marketing, we should first take into consideration the fact that today, we have millions of influencers across social media platforms. When these influencers promote and endorse any brand on their social media handles (with brand and product integration), it is considered influencer marketing.
One important element here, is trust, since the influencers have built a dedicated trust between their followers. So, this is, undoubtedly, a winning marketing strategy for brands.
What is performance marketing?
Performance marketing is a type of digital marketing, where you attain growth and results quickly, with a better return on ad spend (ROAS). In other words, performance marketing is using digital channels that scale automatically and you don’t have to wait for the end results.
There are different performance marketing mediums, including influencer marketing.
Performance-based influencer marketing
I’m sure most brands these days, use performance-based influencer marketing, which is ensuring that the influencers are talking about the brand by using deep links in the bio and description of the content to get relevant traffic or customers.
Today, most brands have dedicated an ample amount of their budgets on influencer marketing channels. From celebrity to rural-based influencers, brands and marketers have options across the entire length and breadth for these channels.
In India, YouTube and Instagram have become the two most important social media channels for influencer marketing.
Influencer-based performance marketing
I have experience in leading marketing for different brands and categories. One important element that I’ve using, is an influencer-based performance marketing approach.
What exactly is an influencer-based performance marketing approach? From influencer marketing campaigns, you can easily get the audiences at the top of the funnel. You have to use close loop marketing channels to ensure that the event is completed.
Brands need to have influencer-based performance marketing, which is to use influencers’ videos, content and banners as a creative for performance marketing campaigns across platforms. It also helps in getting ahead of the competition that’s targeting the same audiences in the bigger digital universe.
(The author is Prateek Pathak, VP marketing, Stashfin)