Influencer marketing
Round 7
This is the first influencer round throughout the whole simulation. I decided to choose a macro influencer to do brand ambassador because I thought they would have a closer relationship with customers and in turn, his followers would trust his reviews and explore the bags of Buhi Supply Co. As for Ryan Ball, profits were made which was absolutely great. However, I had some spare budget left and I was unable to choose another macro influencer. Hence, I decided to spend it on gifts hoping that they will do unboxing videos or positive reviews on the product. I was disappointed that ALL the gifts sent out had zero impressions and revenue.
Round 9
After reading an article of influencer gifting, I decided to give gifting another shot for my second influencer round but at a lower cost. With the rise of social media, brands can get their products in front of influencers through gifting, producing a great response at little expense. Gifting products in exchange for mentions digitally, whether that be an Instagram post or a mention on Facebook, is a hugely popular way for influencers and brands to collaborate. Other than that, I use up my budget on a Mega influencer, Alex Gomez, to do a giveaway as I feel that she will bring a lot of brand awareness and engagement for Buhi Supply Co. as she has a large number of followers. I also used the remaining budget on a macro influencer, Olivia Gray, to do affiliated marketing since she is in the fashion industry. This way, her followers would trust her taste in fashion and browse through Buhi Supply Co.'s bags which will bring revenue and sales up.
To my disappointment, gifts do not work out well. However, the giveaway by the mega influencer did perform well by generating up to 1million impressions and 32,943 engagements which rose the revenue up to $6727. Similarly, the affiliate marketing program by the macro influencer did generate profits but not as high as a mega influencer.
Round 11
After reading an article about the effectiveness of social media takeover, I decided to test it out in my last influencer round. I chose Alex Gomez because I have worked with her for the previous rounds, and also because she is a mega influencer. By being a mega influencer, she is famous and has a large number of followers. This means that if I hold a takeover event, her followers may hop onto our Instagram page just so as to catch a glimpse of her engagement with our brand. This way, we will gain engagement and impressions which may be converted to revenue by holding a social media takeover with a mega influencer.
The performance was absolutely great, the impression is over a million. The total engagement was above 40,000 which led to a revenue of $6568.