Partnerships and affiliates (free tactic)
Lesson 17 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
Partnerships and affiliates (free tactic)
Lesson 17 from: Brand Marketing Bootcamp: Build An Actionable Marketing PlanScott Lancaster
Lesson Info
17. Partnerships and affiliates (free tactic)
Lessons
The definition of strategy
03:39 2The 4 stages of marketing
03:16 3The difference between strategy & tactics
03:46 4The 6 laws of marketing
09:56 5Understanding Creative & Distribution
02:16 6The 4 marketing P’s and how to use them
05:08 7SWOT Matrix and how to use it
02:28 8Porter's Five Forces
04:4360/40 Law of marketing
04:04 10The marketing funnel
06:27 11Analyzing your competitors
07:14 12Deciding your target audience
06:59 13Creating your marketing objectives
11:42 14Pricing your products perfectly
08:16 15Watch this before arranging your marketing strategy
02:21 16Awareness, finalizing your awareness tactics
03:52 17Partnerships and affiliates (free tactic)
09:40 18Blog writing & SEO
07:26 19Podcasting
07:10 20Public Relations
05:58 21Giveaways
07:18 22Word of mouth
06:21 23Valuable courses
08:09 24Social media overview
05:28 25YouTube
09:36 26TikTok
03:58 27Twitter / X
04:48 30How to create better content in half the time
07:54 33Why start-ups should never use paid advertising for awareness
06:21 34Education & Consideration
01:33 35Workshops & Webinars
08:39 36Social Proof
06:55 37Effective Email Marketing
05:34 38Utilizing FAQ Sections
05:31 39Portfolio & case studies
07:39 40Leveraging product comparisons
03:26 41Tips to increase desirability
07:22 42Harnessing the power of Google reviews
05:20 43Sales & Conversion
02:28 44Psychological tricks to convert customers to buying
08:25 45Building a list of customers ready to buy
08:46 46Irresistible Offer
08:31 47Persuasive Sales Page
07:35 48Promotions & Free shipping
04:24 49Improving conversion rate (PIPE FRAMEWORK)
06:39 50Customer Retention
03:43 51Expanding your product range
07:18 52Asking for feedback & refining your product
03:37 53Loyalty programs and the subscription model
06:43 54Gifts & Surprises
05:02 55Finalizing your marketing strategy
07:40Lesson Info
Partnerships and affiliates (free tactic)
What if I told you, there's a way to get influencers with hundreds of thousands or even millions of followers to share your product or service on their social media feeds. Now, listen, when you reach out to an influencer, the majority of influencers are going to ask you for payment up front. And that's just the sad reality of influencer marketing. And if you actually want to pay to get your product or service in front of the influencer's audience, that's ultimately just the price of the game. But the reality is that most of the audience of that particular influencer, although they are going to be aware of your product or service, they're also going to be aware of the fact you have paid that influencer to promote your product or service, which can sometimes result in sales, but it isn't very authentic. And the reason I say this is I've did this exact same thing many times over the past decade, both with my own money and also with clients money and where we have found some incredible suc...
cess with it. We've also saw that there have been some difficulties in getting that authentic approach, right? Simply because if the influencer just posts one single post and it's just very much out of the blue and they've never actually used the product before, just feels very ingenuine. And that can actually have a negative impact on the brand and the product, but it just doesn't get you the results that I think you are expecting. And most importantly, it's not going to be worth your money, which is one of the most important things. Obviously, if you do have a marketing budget to work with, then you want to make sure you get every single penny of that marketing budget working super hard for you, which is really important. So I actually developed a strategy which I personally think is super helpful to get influencers on board to work with you to grow your brand. Now notice the language that I'm using when I said an influence to help grow your brand, to partner with them, to work with them. It's a very different dynamic to basically just pay an influencer or just asking them to sponsor your product or service. The vast majority of influencers are going to want to be paid up front. But if you try to get the best fit for the influencer and also for yourselves, then that could lead to a harmonious relationship benefits both parties. So let me share a quick story just to give you an insight in regard to how this worked for me personally and how I think it could work for you. Now, I set up a partnership program for an E commerce company, which I'm currently running at the moment, which basically guaranteed the influencer to a certain percentage of the sales from some of the products that they help sell. So for example, if their promo code is used, then they get a percentage of that particular sale. Now there's a couple of things to keep in mind and this isn't revolutionary, this isn't a brand new idea. But basically you have to position the partnership program as being the partnership and actually jumping on a zoom call and talking to the person and saying to them, listen, what do you want to achieve? Like for example, I was speaking to an influencer who really wanted to do speaking arrangements and wanted to really push herself to be this figure and this authority figure in the wellness and mental health space. And this is obviously very much linked to the brand that I was building with the e commerce company. And in simple terms, there was a grid fit there already and she was a really grip person. She still is a really grip person. She wears the product all the time for free without any messages from me. I just like all of her posts. And the fact of the matter is she's just a really high quality person with incredible integrity and just an incredible vision for her future. And you want to work with people like that. There are some people in the world that are going to ultimately want to be paid upfront for everything they're not going to care about. If you get any results, they don't want to have a long term relationship. They just want a short term casual fling and that's not what you want. If you want to actually build sustainable growth and you want to actually grow your business and take things to the next level. We need to make sure that you have long term partnerships in place. They need to be actively invested in what you're building. They need to be part of your journey as a brand. And when you find the right fit, it makes things so much easier and pretty much effortless. If you put that work in up front, you can connect with the right people and listen, you're going to connect with tons and tons and tons of people that it doesn't make sense for and you just, you know, kind of go your separate ways because, you know, things just don't align. But the people that you do find, it makes a lot more sense for. And, you know, I probably reached out to maybe 500 to 1000 maybe, probably like 500 to 600 people, maybe, maybe not 1000. Uh over the last kind of, you know, few years for the company that I was building and I only work with three long term partners now because those are the ones that truly believe in the product, they truly believe in the vision for the company. And that's why it's super important to have your brand strategy in place. The first course of our five step program, get your internal communications. So you have a vision for the future that other people can get on board and get behind. And this can really change the trajectory of your entire business because you're now not just a brand trying to sell products, you have a vision for the future that's very, very different. You have a purpose and a reason for existing, which is beyond comprehension. One of the most interesting and one of the most powerful things when you're speaking to someone and saying, listen, this is how we see the future. Do you want to join us? Do you want to get on the ship or not? And it's been one of the most effective and impactful things that I've did both for my own businesses and for clients. Now, if we think about how much to pay an influencer, it is probably roughly going to be around 30% to make it worth their while. Now, this obviously depends on how much your product is worth or how much you are selling your product for. But for example, if you are selling a product for like $50 and you are essentially offering $5 as commission for each sale. How motivated is the person going to be to actually get onto the partnership program and actually start making progress with you to help build your business. Because what they're thinking is, well, I'm putting all the effort to actually market your product for you and you're taking $ and I'm just taking five, doesn't really make a whole lot of sense to me. What's actually far more useful I think is to basically think of the general amount that you will spend on marketing advertising if you actually have to pay for ads. So you'll generally spend between 30 to 40 per cent to actually acquire a customer using Facebook ads or Instagram ads, et cetera, depending on the ads, depending on the creative, depending on the product, depending on how desirable it is, et cetera, et cetera, but generally speaking between 30 to 40 per cent. So it actually makes a whole lot of sense to offer the influencer around 30 to 40 per cent for their sales that they generate. And the reason for that is you're going to pay that anyway. So you might as well pay for a guaranteed sale as opposed to a seal has not materialized and is never guaranteed to materialize if that makes sense. So that's just my opinion on using percentages to ultimately get it to a point where it's worth the partners while to actually invest in your company and start really advertising, generating awareness for you, but obviously you just figure out whatever's best for your particular circumstances. Now, one thing that I cannot stress enough is that you should not fall into the trap of getting excited about a person having 500,000 followers. And then you just basically think, oh they've got 500,000 followers. If I just get 1% of that, then I can make X and if I pay them this, then I can get this. It doesn't work like that. Uh People who are scrolling through Instagram, for example, don't really want to leave Instagram to be completely honest. And when they see someone that they follow for a certain reason, they're not there to be sold to, they are there to ultimately get a certain benefit from that particular person, whether it be value, whether it be just looking at them because they're attractive, whether it be fashion, whatever. So please be aware that you will get the impulse to maybe spend on getting the awareness, but try to take its law and try to set up a partnership program to ultimately get people on board and get them invested in your vision for the future with your business. So in regard to costs, I've marked this a 10 because this is an excellent way to ultimately get an amazing amount of awareness with zero upfront investment from a monetary standpoint. Now I've scored it in regards to energy to set up as a two because it does take an awful lot of energy to get set up and actually connect with the right influencers who are going to benefit your brand. But after it is set up and you just have to maintain, it scored four because it doesn't actually take a whole lot of effort and energy to maintain it. You just have to obviously respond to e mails, make sure the discount codes are working, et cetera, et cetera. Now, likely Roi you are essentially investing zero monetary investment or very little in regard to, to actually getting things set up. So your Roi is exponential, it could be huge. So I score this is an eight just to kind of keep things realistic. But if you set things up correctly, you could really get an incredible amount of return based on this particular effort and tactic. Anyway, I hope you find this tactic helpful. I look forward to seeing you in the next video, see you soon.
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