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What to offer influencers so they choose you over competitors
by SARAL
July 28, 2023
Here’s a fact for you: Sephora doesn’t pay its influencers big bucks. Instead, they call their creators “Squad members” as they’re part of the Sephora brand ambassador program. They get free stuff, giveaways, a shout-out on Sephora’s social media, invites to special events, etc.
On the other hand, there are brands emptying their pockets to pay all types of influencers to post about their product and see no impact on sales!
So, what’s the secret?
It’s all about making an offer that’s so good, the influencers can’t say no. The right offer can make your CPG influencer program a success. The wrong one can leave you with nothing but an empty wallet.
Let’s find out how you can create a great influencer offer.
What is an influencer offer & why does it matter?
An influencer offer is the monetary and non-monetary benefits that a brand provides to an influencer or content creator.
Influencer Offers are the heart of your influencer collaborations. They’re essentially the value proposition you’re offering to the influencers in return for their services. The quality and appeal of these offers can directly impact the success of your program.
If you provide offers that resonate with your chosen influencers, you can secure strong, effective partnerships. You’ll attract influencers who are genuinely interested in your products, which in turn leads to more authentic, engaging content. This authenticity plays a significant role in influencing the purchasing decisions of their followers, driving sales, and ultimately, the success of your CPG brand.
On the other hand, if your influencer offers are not attractive or don’t provide enough value, influencers may decline to work with you or not put their best efforts into promoting your brand. This can lead to lackluster content, fewer conversions, and a lower return on investment for your influencer program.
3 Components of influencer offer
An influencer offer consists of three main components: the incentive structure, perks for the influencer’s audience, and benefits for the creator.
1 — Incentive structure
The incentive structure refers to how the brand compensates the influencer.
This can include any of the following
- gifting the influencer with products in exchange for promotion
- offering a flat fee along with a free product
- paying based on the conversions the influencer generates
- providing a fixed amount up front plus a percentage of sales
- offering stock options or equity for long-term collaborations
2 — Perks for influencer’s audience
Perks for the creator’s audience are also important. Brands can provide discount codes or giveaways that the influencer can share with their audience, making the influencer look good and benefiting both the brand and the influencer by increasing sales and engagement.
Here’s an example of Bang Energy offering a 25% discount to the creator’s audience:
3 — Benefits
Benefits for the influencer include things like exclusive access to new products, product collaboration opportunities, exposure to a wider audience, or exclusive access to events.
Let’s explore some of these in detail:
- Personalized Gift Sets: Similar to swag bags, consider creating a package of your products specifically tailored to each influencer’s interests. For a skincare brand, this could be a personalized skincare regime, while a food brand could offer a curated basket of their best gourmet items. When influencers receive such thoughtful gifts, they are more likely to share their excitement with their followers.
For example, this influencer shared his experience of receiving a personalized gift for his daughter from Magic Spoon on social media:
- Exclusive Brand Club: Instead of a generalized community, form an exclusive group where your influencers have the chance to meet your team, and other influencers, and even get insider updates. This fosters a sense of belonging and can strengthen their relationship with your brand.
It can be online or even offline. For example, Bang Energy invites influencers to its ‘content house’ in Miami to collaborate with other creators
- First Dibs on Products: Providing influencers with an exclusive preview or sample of your upcoming products can create a sense of exclusivity and excitement. They get the chance to be the first to share something new with their followers, which can boost their credibility and engagement levels.
- Growth-Focused Opportunities: Rather than just one-off event invites, consider partnering with influencers for long-term professional growth. This could include offering workshops, facilitating networking with industry experts, or even providing resources to help them improve their content creation skills. This shows your commitment to their growth, making your brand a preferred choice.
- Social Media Spotlight: Regardless of your follower count, featuring your influencers on your brand’s social media can be a major perk. This not only validates their work but also helps them reach a new audience. This feature could be in the form of a simple shoutout, a full-blown content feature, or a dedicated ‘influencer of the month’ post.
Here’s an example of how Olipop gives a shoutout to their influencers
By crafting a compelling influencer offer that includes these elements, brands can attract influencers to collaborate with them, helping to promote their products or services to a larger audience.
Conclusion
Brands may not always be in a position to offer heavy monetary rewards. Moreover, monetary compensation isn’t the only motivation creators have.
Next time you pitch an influencer, think of the creative ways outlined above to “pay” them and make the partnership appealing. 🎁 🧧
If you’re struggling to find the right influencers for your CPG brand, checkout SARAL. It’s an influencer marketing tool that helps you easily find, connect with, and handle long-term relationships with influencers. And that too with one-tenth the amount of time & money you’re spending right now. 🤑
If you feel that having 50 influential advocates promoting your brand would make you profitable, then get your free trial and start building an influencer program inside SARAL.
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