ShopStyle wants its influencers to know their worth.
In November, the online platform rolled out new features geared toward helping its influencer collective of 20,000 monetize even more content. Now, it is unveiling a program that will allow influencers to see just how much they’re driving in sales to retail partners, as well as conversion and average order value.
“When a brand does sponsored content with an influencer, those campaigns are increasingly becoming judged on performance and sales metrics as opposed to things like brand awareness,” said Brent Locks, ShopStyle’s general manager. “As we continue to build on our commitment to invest more in influencers and how they can grow their businesses by more effectively meeting the advertiser’s goals, we need to make sure that they also are evolving from a brand-building channel to a revenue-driving channel.”
ShopStyle influencers previously only had access to insights such as how many orders were placed through a partnership and how much they made from the partnership. The Know Your Worth program allows influencers to see the total sales they’ve driven to retail partners, conversion rates, average order values and revenue share percentages — information that was previously available exclusively to the retail partners. The program gives influencers insight into the products and price points that convert to different retailers.
“There are no other competitors out there that are giving this level of transparency,” said Alison Stiefel, vice president of marketing at ShopStyle. “It’s one of the things in this dark box that hasn’t empowered influencers to really drive their business. We’re unlocking that for them.”
In 2018, ShopStyle retail partners generated more than $100 million in sales through the company’s influencer collective. Sponsored influencer campaign investments from retail partners increased by more than 50 percent — and that number is expected to grow even more this year. Influencer earnings increased 45 percent in 2018 versus 2017.
“We’re trying to help our influencers become smarter digital marketers to help them grow their business and therefore grow the business of our retail and brand partners,” said Locks. “That sort of transparency doesn’t exist today. It unlocks an incredible amount of insight for our influencers to help them with their content strategy and ultimately build more valuable relationships between our influencers and our retail partners.”