Tip: Boost sales with an influencer referral program
Referral programs are great, but have you ever considered an influencer referral program? Increase revenue by incentivizing influencers to onboard other influencers.
According to @Julian of Demand Curve, you can turn influencer marketing into a system that grows itself. Just create a referral program specifically for influencers — they get a share of the sales brought in by the influencers they refer and activate. That gives them plenty of incentive to bring in new, high-quality influencers for you. And all you need is one long-term influencer to get the snowball rolling. Of course, it's still on you to make sure that each influencer's shoutouts are on-brand and ethical.
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Good tip! Reminds me of an article I recently read (specifically about using this method for newsletters): https://ghost.org/blog/newsletter-referral-programs/
I wonder if there's data which shows that influencer-referrals account for faster/more growth than smaller/nano-influencer referrals?
Micro-influencers can offer a lot of bang for the buck - it's all about finding the right one with the right audience. And they're certainly good candidates for an influencer referral program. I don't know of any data offhand though.
You could use a tool like https://www.upfluence.com/ or https://www.modash.io/influencer-database. It's a good place to start gathering names if you're new to a niche. A free way to start is just googling "top influencers for/in 'NICHE'" and start creating your own list.
Are there examples? Also what tools would be recommended? For example, viral loops? Referral candy?
Thanks!
No examples on this one. And yeah, Referral Candy could work, or Referral Rock or Referral Hero. There are tons of options, though I haven't personally used any of them for influencer referrals.