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The influence of influencer marketing and how to pay KOLs

2022-08-24 01:58:42

Practitioners in the cross-border market in 2022 will basically feel the opportunities given by the market. More export brands hope to seize the opportunity of influencer marketing and become the leading brand. According to an overseas influencer marketing research report from LINQIA, 71% of brand marketers say they will continue to increase their influencer marketing budget in the next three years.

Nearly 400 new influencer marketing platforms and agencies entered the market in 2020-2021. The influx of new institutions and practitioners into the influencer marketing market has expressed people's confidence in this industry, and the market size of the entire industry will continue to expand.

At the same time, the search trend of the word influencer marketing on Google has also maintained a growing trend, and the attention of the whole Internet to influencer marketing has been increasing.

A Case of Influencer marketing: How did Chinese clothing brand SheIn blow past H&M and Zara with US$100 billion value, ranking it among the world’s most valuable start-ups

SheIn, whose Chinese name is Xiyin, is a cross-border company focusing on fast fashion.  Its main products include women's clothing, clothing accessories, home accessories, men's clothing, children's clothing, and other products. In 2021, SHEIN's app surpassed Amazon, Zara, and H&M to become the top shopping app download list in the United States.

One of the reasons why SHEIN can succeed in overseas markets is that SHEIN has gained a lot of traffic by cooperating with overseas celebrities.

In the early stage of brand development, SHEIN began to cooperate with a large number of overseas celebrities and seized the traffic dividends of overseas social media such as Instagram and Facebook at that time. In 2011, before the first generation of Chinese Internet celebrities such as Sister Furong.

SHEIN not only wants to harvest traffic but also wants to spread the brand with influencer marketing. Therefore, the strategy adopted by SHEIN mainly chooses to cooperate with a large number of fashion and beauty influencers on Instagram, YouTube, TikTok, Facebook, Twitter and other social media platforms with different levels of fans.

SHEIN will pay for the large and middle influencers. and for KOLs with a small number of followers, they will provide them free clothes or exclusive discounts, asking them to make unpack packages and try on clothes videos. Once the conversion is generated, the influencer can also get a 10%-20% commission share.

SheIn's influencer marketing strategy can be said to be a model for overseas e-commerce.

Payment methods used for paying an influencer

At present, the common payment methods for influencers are international wire transfer, Paypal, and third-party payment companies.

International wire transfers are slow and expensive. Paypal is an instant electronic wallet payment, which is being widely used. However, the fee for withdrawing to a US bank account is 3%, and if you want to exchange it into another currency, the fee is 4%. which is a lot for most celebrities.

Fast and cheap local currency payment method - Epay

Epay supports pay to celebrities in more than 60 countries and regions. Funds can be sent with bank transfers, cash pickup, and e-wallets. Which are fast, cheap, and safe. No exchange loss, the handling fee depends on the recipient country, the minimum cost is only 3 US dollars per transaction, and funds can be received on the same day. Epay is a cost-effective choice for both merchants and celebrities.

All in all, influencer marketing is necessary promoting method for modern export e-commerce. Having a good payment method can facilitate cooperation with more celebrities.