Affiliate marketing programs flourish with coupon sites, magazines, and online blog content. And lately? Influencers and content creators.
YouTubers, TikTokers, Instagramers, and podcasters market endless content for brands and influence consumers’ purchase decisions daily — especially Instagrammers.
Newsflash: those consumers could be part of your customer base!
And brands have caught on.
You might have a hundred influencers spearheading various affiliate marketing campaigns. Hello, higher traffic and conversion rates! The value is undeniable: every dollar spent on influencer marketing translates to a $5.78 return, on average.
But remember when you based success on vanity metrics like likes, comments, and shares? It’s important to track all those, too. But not as valuable as tracking affiliate sales.
Why? Two reasons. First, tracking affiliate links and codes (sales) speaks directly to your ROI. Second? Data is king — you should know which campaigns and influencers are performing best in order to reach your campaign goals.
Influencer marketing campaigns are great for your affiliate program, but not until you understand their performance.
That’s where affiliate tracking software comes in. Don’t you want to see where your affiliate income is coming from? We’ll help you discover that and more as we walk through affiliate tracking for influencers.
Influencers influence people, specifically their purchase decisions.
One early appearance was King George’s “stamp of approval” on Josiah Wedgewood’s pottery in the 18th century.
Today, it’s the comedian promoting cognitive-enhancing supplements on his podcast. Or the outdoorsy YouTuber unpacking a new, heavily insulated sleeping bag.
Note how we mention podcasts and YouTube — that’s because before, everyone associated influencers solely with Instagram, along with Facebook and TikTok. Of course, those social media platforms are common stomping grounds for influencers, but they aren’t the only marketing channels.
Today, influencers market tons of products for brands on many platforms, including:
Influencers are successful marketing tools because their audiences trust them. They’ve built authentic relationships with them with regular creative content through Instagram stories, Twitch streams, podcast episodes, and more. In fact, influencers might even have a deeper understanding of your audience’s needs, knowing which social channels and content types they respond to more.
We just summarized influencers in a quick couple of paragraphs. But the truth is, you can’t paint every single one with the same brush.
While influencer affiliate marketing has been around since social media’s early days, it’s evolved to thousands of different commissions, payment models, and packages.
Even just as recently as 2018, content creators were much more stringent in their payment expectations, charging brands per activity (i.e., $100 for an Instagram story) for a mention or promotion.
Today? Things are much more flexible. Of course, you probably pay affiliate influencers a commission on sales or a hybrid model with commission rates and a standard fee.
Influencers are much more willing now to accept pay based on campaign performance. You can even negotiate commission payouts based on milestones, or add perks like free merchandise to the mix.
Social media influencers have made affiliate marketing success much more accessible, especially for eCommerce businesses. In just four years, social media influencers jumped to capture 5% of the performance marketing investment.
So how do you see and assess the fruits of your influencer marketing efforts?
Business growth and revenue are every brand’s end goal. Even brick-and-mortar businesses become online businesses when it comes to tracking. Today, eCommerce marketing platforms help you keep tabs on performance, average order value, and other helpful KPIs.
And if you have an affiliate program? Influencer sales is a key KPI. Tracking affiliate sales indirectly gives you access to revenue. You just have to travel through data, then insights, which become actionable.
The result is a constantly coiffed affiliate marketing strategy that:
Second, affiliate sales. Of course, you’ll need affiliate marketing software to see sales. But the right solution will make it easy for you to see how many sales each influencer refers, as well as financial return for different influencers and campaigns.
Influencer marketing demands your attention in four main areas — but each one still has a lot of moving parts:
Phew. These are a lot of steps, people, and tasks to manage. Affiliate marketing is a large operation, even if you’re working with micro – influencers. Unfortunately, campaign and influencer management aren’t optional. If you don’t stay on top of all these moving parts, your traffic and revenue could suffer.
But how can a marketing team handle affiliate link tracking, commission payouts, content performance tracking, and influencer engagement on top of everything else?
Easy. They subscribe to Tapfiliate so that all these tasks can be automated.
Try Tapfiliate’s free 14-day trial
Tapfiliate has powerful tracking features and real-time insights to help you keep tabs on influencer sales. Plus, its unique clickless tracking marks it ideal for influencer affiliate tracking.
Let’s say your affiliate uses Instagram as a primary promotion social network. If they post your affiliate links in their captions, it’s likely their audience will never click on them.
Why? Because commissionable affiliate links don’t work everywhere.
In this case, an influencer would offer their audience a coupon code, something quick and simple they can plug in at checkout. Tapfiliate empowers brands to track these sales by linking each coupon code to the corresponding affiliate. You’ll still be able to track sales, order values, and overall revenue per affiliate — without a click!
Of course, we still track affiliate links too. We offer both click and clickless tracking. Here are some additional features with Tapfiliate:
Influencers aren’t going anywhere — more pop up each day, which presents ample opportunities for rich, engaging affiliate marketing campaigns.
Since influencer affiliates aren’t the biggest upfront investment, it’s easy to pay less attention to them compared to the rest of your marketing efforts. But tracking affiliate sales is vital to your success. You need data insights to make the most of your influencer marketing program.
Tapfiliate can help with custom links, powerful reporting, engaging affiliate interfaces, and tracking for coupons and links. Try our 14-day free trial today!
Chrissy Kapralos runs a Toronto-based writing agency called No Worries Writing Co. She’s passionate about helping businesses communicate and share their stories. When she isn’t writing about the latest tech and marketing content, you’ll find her traveling, cooking, or watching horror movies.