Julius’ first Influence Live panel of 2018, the Impact of Influencer Marketing on New Product Launches, brought together influencers and agency executives to discuss the brands doing it; the pros and cons (creative, production, messaging); and, of course, the ROI.

The panel included several unique perspectives from industry pros: Influencer and Creator of TheStylishMan.com Ryan Sprance; Founder & CEO of SocialCadre Daniel Snow; and VP of Influencer Marketing at Praytell, Rhea Woods.

The first topic covered was the relationships between brands and influencers, which is the crucial foundation for any successful influencer marketing campaign.

“They need to be able to see what’s happening behind the scenes...it’s important to have that transparency with the influencer,” Sprance said while detailing his relationships with brands and working with influencers himself.

When working out the business details with the influencer to launch your product, Snow said to keep in mind that “discussing key talking points for the content” is crucial. Another thing to keep in mind if you’re launching in a major city? Location. Woods says focus on the follower index of that city and the aesthetic, to make sure not only the city’s type of followers align with your target, but the aesthetic aligns as well.

Later in the session, the discussion centered on the use of promo codes. Are they helpful other than to track a campaign? Woods added, it depends on the perceived value of the product. For high perceived value products such as expensive smart home appliances that followers really want, there is a high perceived value and as a result lots of value in the savings offered by the promo code. On the other hand, there’s a lot less demand for savings on a $5 face mask. If you can have the influencer also tell a story rather than post once about a sale, that’s also a great way to connect to their audience.

To learn more about product launch strategies using influencer marketing and proving ROI, you can watch the full panel below.