Why Tapping Into Publisher and Influencer Partnerships is Key for Retailers’ Success in 2022
The retail sector was hit especially hard by the pandemic, with restrictions minimizing in-person sales, supply chain disruptions impacting inventory, and the Great Resignation hitting the labor force. To stay competitive, retailers pivoted to alternative strategies that allowed them to continue to engage with consumers, and keep them coming back for more.
An area that has proven fruitful, yet largely untapped by brands, is partnerships with publishers and content creators. Publisher partnerships allow retailers to reach an outlet’s massive readership on a digital and print platform, while partnerships with influencers and content creators can reach audiences in a more authentic and even intimate manner. These partnerships create a unique opportunity for retailers in that the expanded reach would be otherwise untapped, leaving revenue on the table.
Investing in Content Commerce Pays Dividends
Research shows that 81 percent of consumers take their time researching new products and consider many factors outside of the product’s retail price before making a purchase. This is why partnering with publishers is vital, as shoppers will visit various websites during their search.
Brands that partner with publishers can capitalize in distinct areas. Some examples include:
- Annual Holiday Sales: Working in tandem with publishers to take advantage of annual holidays, like Valentine's Day or Labor Day, creates an opportunity to creatively promote new products and gain new customers that haven’t been reached before.
- Last-Minute Deals: Publishers can push out time-sensitive messaging that reaches a larger audience and creates a sense of FOMO. These events create major buzz across consumers, which in turn drives traffic to the publisher, drives sales for the brand, and potentially drives long-term loyalty if the deals continue to stay relevant.
- Seasonal Trends: Publishers can tap their data to spot seasonal trends and identify products that sell best during that time. Grilling and cooking equipment during the summer, heavy coats at the start of fall, or candy and costumes at the beginning of October are good examples for how publishers and brands can align on seasonal trends to generate sales.
The Influencer Magic is Still Powerful
Online influencers remain trusted voices and go-to resources for shoppers. Personal connections and sense of trustworthiness are among the top reasons consumers will purchase a product that's endorsed by an influencer, especially when the messaging is authentic.
How can retailers best utilize these creators to reach consumers and generate sales revenue?
- Maximize current partners. For brands that already have a roster of content creators they work with, look to maximize their efforts with their audience to help yield better results for your sales team. This can be done through boosted commissions, incentivized payouts, giveaways, and more, all of which can generate more attraction from users that interact with their content daily.
- Diversify your influencer network. The start of the new year is a great time to research new influencers to potentially partner with throughout 2022. Doing so can help reach a diverse audience.
- Provide exclusive content. One of the best methods to improve the relationship with partners is by offering exclusive content and deals. This shows a level of faith in their skills as an influencer, fueling their motivation to work with your brand again in the future, but also generating the best results. This exclusive content can be anything from promos, limited-time products or giveaways.
2022 and Ahead
As we approach the two-year mark of the pandemic, there has been no shortage of challenges in the retail space. Through the remainder of the year and beyond, it’s critical that retailers use every strategy available to ensure positive growth. Partnerships will certainly be a key to success in 2022!
Cristy Garcia is vice president of marketing at impact.com, a partnership management platform driving partnerships for more than 2,000 brands.
Related story: How to Use Creators to Market Through Digital Commerce Channels
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