By launching a referral program you can track the influencer campaign performance. It is an easy way to manage pay-out in affiliate schemes – you can track the coupon redemptions per month, purchase value per month and at the end of each month, summarize how much commission to pay out to your affiliates.
- You can decide to pay your influencers per content piece, per number of redemptions or a percentage of the purchase value (e.g., 1% of each purchase done using their coupon code, evaluated at the end of the month).
- Review the performance of the coupons regularly to evaluate your partnerships with influencers.
- Remember – if your goal is sales, this is the right way to track influencer performance but if your goal is brand awareness, focus on your website or social media visits that influencers brought.