MAKING MONEY FROM SOCIAL NETWORK
After work at a bank, a good looking credit officer named Tien gets dressed up to go to an intimate night club. He frequently goes to the club with differrent groups of friends. Whenever showing up there, the frequent clubbers jazz the club up wit dynamic energy which makes them become the spotlight of the club.
Having a large network as well as so many followers on social media, Tien has been chosen for a influencer marketing campaign of that bar. According to the terms of cooperation, Tiến is given a budget for parties with his friends at the nightclub. In exchange, Tien is obliged to commit about the number of new friends that he brings to the club every month, the number of check-in and stories posted on facebook. Besides, it is their responsibility to make the nightclub looks more exciting and festive.
This influencer marketing strategy arms to attract more new customers to experience the club while it is recently quite unknown among the community. For that reason, the lifestyle of KOLs and the strength of their networks are more considered than the engagement rate on social network when the club recruits influencers. Therefore, club requires the chosen KOLs to have not only a good job but also modern and dynamic lifestyle.
However, this is not the most interesting part of the story.
Taking advance of his large network of friends and bank customers, Tien get paid by helping people in his network to book tables at the nightclub. Tien’s friends are taken to the nightclub, shared clubbing experience as well as advised the best drinks to drink. Thanks to that, from friends, they have become frequent customers of Tien and always get their tables booked by Tien to have VIP corner. The nightclub earns more than 5000 USD per month from Tien’s network. Continuously, many of Tien’s friends are introduced to join the cooperation with the nightclub.
EARNING FROM SHARING PERSONAL EXPERIENCE
At 11pm, Trang – a 30-year-old model is wearing a pyjama while live streaming her night skincare routine on facebook. She is introducing the product’s use, revealing her skin care tips and answering fan’s questions about beauty concerns. Product’s name, prices and shopping guidelines are listed in the caption of live stream.
Trang is actractive mom with strong personality and straightforwardness who represents for typical modern mom nowaday. Her followers are those find their lifestyle similar or at least admire Trang’s lifestyle. When influencers and their followers share a common lifestyle, selling products which are suitable to the community becomes much more easier.
Trang shares her personal experiences of products frankly and faithfully. Thank to that, the sales turns out a beauty and skincare tip sharing among women who have simillar lifestyle and trust each other. This is the way Trang becomes a social influencer having a large number of loyal customer on social network.
AFFILIATE MARKETING – INFLUENCER MARKETING INTEGRATION
Despite of the rising of affiliate marketing in VN, there is just a few KOL participating in this it until now for 2 reasons. Firstly, earnings from affiliate marketing is too low to compare to earnings from sponsored posts by brands. Secondly, affiliate marketing runs more approriately on wordpress or other website platforms while most of influencers nowaday are active on social network.
However, don’t be upset. The future of influencer affiliate marketing is not as bleak as it seems. Here is the reason: Influencer marketing is facing its own problem: higher engagement but lack of proven effective results. To deal with this, clients would seek for solutions helping them to caculate the effectiveness of every dollars spend on KOLs. Integrating performance based marketing into influencer marketing would be one of those solutions.
The integration only sucesses when affiliate marketing supports the development of influencer marketing instead of only focusing on geting as high as conversion rate as possible. Some ideas for how affiliate marketing can support influencer marketing will be came up with in our next blog.
THE FUTURE OF SELLING THROUGH INFLUENCER NETWORK
It is obviously that influencers will take advance of their social network to make profits. They will be united into a powerfull network which conects directly to the brands. This network will be a ideal choice for entire new brands or products which phase of consideration plays an important role in the customer journey.
For the brands, sorting out those KOLs having suitable social community to the products as well as building and managing influencer network for selling will be their priorities in 2018.