To figure out how to optimize your influencer marketing network you need to quickly analyze them so you know what you need to do!
By the way, I’m referring to collaborations which are a little more structured than paying influencers for mere one-time shoutouts. This performance analysis works well when you have a more partnership orientated agreement. If you don’t know what I mean, then see this article for an explanation of 8 ways you can collaborate to get us on the same page.
Analyzing your influencers
First, put together a list of every influencer that operates within your distribution network. Then, separate that list into three groups:
- Great performers
- Average Performers
- Bad performers
Clearly defining where these influencers fit helps you identify where to focus your time and resources. The goal is to have everyone positively contribute to your business.
Now you’ve got to evaluate their performance
#1 Great performers
This group is your most-loved. They are essential to your monthly income targets, so treat them as such. Let them know how well they are doing and reward them with more of your time to help them make even more money:
- Look into special offers you can provide them where they can promote exclusively.
- Provide them with more support staff.
- Reward them with prizes and gifts.
This group has already proven that they believe in your business and demonstrated that faith in their sales.
Not only do you benefit from the revenue they generate, but they are your best ambassadors for making your average and bad performers want more! By demonstrating their success, you motivate your other influencers to work smarter and harder.
#2 Average performers
This group typically makes up the majority of your influencer network, and you need to pay a lot of attention to them….
They sell with relative consistency but not in high numbers. You appreciate their work ethic, and combined, they provide most of your brand advertising in the market.
What tends to happen is that your great performers usually have such powerful access to an existing audience or pool of prospects, that they don’t actually market that much!
They generally have laser-focused marketing campaigns targeting those groups directly.
Your broader advertising efforts usually come from your collective group of average performers. So, i’d suggest spending some time showing them how much you appreciate their effort:
- Reward them with free deals that come in from clients who approach your business directly.
- Assign your own staff to work with them and help them close more deals.
- Provide them with support infrastructure and coaching.
- Set goals with rewards, which they can receive for hitting key performance indicators.
Keep your lines of communication open to them at all times, just as you do with your great performers.
With the right nurturing, these average performers can grow to become your great performers, so retention is vital!
#3 Bad performers
You already know everyone in this group. They are the people who ghost you as soon as they sign up.
Or, they make excuses about market shifts, customer appetite, and always jump at the opportunity to complain about the competition, both externally and about other influencers snapping up all their potential customers.
You can either forget about them, which I have done many times… Or, do something I’ve learned that works well.
You see… even the bad performers can be useful because they are still ATTEMPTING to sell. And by doing this, they continue building your brand awareness through their marketing efforts.
Just because they are not bringing in any deals doesn’t mean they have no value!
To keep your network working for you, it’s best to really analyze them and figure out what they need help with and offer solutions.
This keeps them embedded and producing for you.
If you are ready to start then why not start straight away!
Check out DistroChannels.com. It’s a software that you can use to search for influencers and distribution partners in any industry, any country, on any topic in seconds.