We’re influenced by what we see.
At the very beginning, the term “influencer marketing” was only associated with celebrities and a few dedicated bloggers. Now, it is clear that social media influencers have grown and saturated the market. If you have done some research on benefits of influencer marketing before, you may have found that there are lots of conflicting opinions and information. Recommendations range from ”You should absolutely be using social influencers” to “They’re not necessary for growth”. Influencer marketing strategies are difficult to navigate, but we are here to help make sense of it all.
Is Influencer Marketing Worth Spending Money On?
According to Forbes, influencer marketing is growing faster than digital ads, using industry leaders’ followers to foster growth in your own business. The beauty of influencer marketing is that the audience is already there, all you need to do is establish a win-win partnership, where both influencer and brand are offering amazing value to each other. This win/win/win situation makes IM such a compelling strategy.
So the answer to the question below is simple: it’s absolutely worth it, and here’s why.
The industry was predicted to be worth $7.7 billion in 2020. The average earned media value was $5.78 per dollar spent on influencer marketing. According to the latest research, 91% of respondents believed influencer marketing to be an effective form of marketing.
One of the reasons that ROI on influencer marketing is so high is that it helps generate demand for a product. While people will naturally choose from a variety of available products when they know they need something, these situations are different. For example, a customer isn’t always aware that some particular product might be intended to solve a problem that he or she has.
Why Does It Work?
- The best social marketing works because it’s nothing more than a natural social interaction.
- The best content marketing works because the information is actually helpful.
- And the best influencer marketing works because it relies on both social and content marketing tools, where reliability and genuine authority are already established in the minds of the audience.
According to Nielsen, 83% of consumers say they trust personal recommendations above traditional advertising. Many millennials admit to scrolling social media while ads play on TV. In a study by Influencer Marketing Hub, it’s been found that influencer marketing is the fastest in acquiring customers online.
It Is Cost-Effective
It’s easy to think more followers equals better reach, but that’s not always true. In many cases, a group of micro-influencers is more affordable and more effective than a single celebrity with millions of followers. This is especially true for the tourism industry, because something like choosing a vacation destination may require multiple impressions. For influencer marketing to be successful, you need to work with people who influence your target audience.
Paying an influencer with an average cost of £10 per 1000 followers to promote your business, you can reach a huge ROI.
Reaches Your Target Audience Directly
Influencers have created their own audience based on their niche. By partnering with someone with common interests and targeted areas, you already have the right audience at your fingertips. This means, content provided by you and your partner-influencer will be focussed and relevant.
Creating Useful Content Instead of Ads
One effective technique is to follow Gary Vaynerchuk’s Jab, Jab, Jab, Right Hook approach of providing enough jabs (useful, non-salesy content) that your followers don’t flinch when you throw the right hook (going for the sale, asking for a subscribe, donation, etc.). The main reason why influencer marketing is more effective in influencing purchases is because it isn’t pushy. The followers of an influencer have willingly chosen to receive content from them.
Unique Influencer Content
When you’re investing in sponsored posts, controlling every aspect of the finished product can result in content that lacks the influencer’s signature personality. All you need to do is to provide influencers with key messaging and let them embrace their creativity.
Helps Content Strategy And Saves Time
Producing fresh and interesting content is not always easy. If you’re out of ideas, an influencer can help you with creating high quality and aesthetically-pleasing content.
Creating an ad campaign takes time, because you need to craft the images, schedule the content across your channels, etc. Influencer marketing takes all of this out of your hands as you are not just paying for the advertising – but all of the design and planning too.
Suitable for Businesses Regardless of Size or Industry
One of the best aspects of influencer marketing is that it is suitable for any business regardless of its size or industry. All you need is people that are influential in your industry. They can always be leveraged for your marketing. However, it does take some amount of effort to identify the influencers who are most suited to your needs.
Gain Credibility And Trust
Offer Inside Information by inviting your influencer to meetings, highlight your company’s mission, demonstrate your products. In other words, give the influencer plenty of information to work with. This will be the proof that you trust the person and inspire her/him to promote your brand. Through the real content that the influencer generates, customers will also feel this trust in your brand.
Influencers do a great job of promoting existing products, but they can also help you create something new. They are often a member of your target audience themselves, and may feel more invested in promoting a product they helped create.
Improve Your SEO
If you’re looking to improve your search engine optimization, this type of marketing is definitely for you.
Keywords are very important for SEO, after all, these are used by consumers to find things on the internet. Every website has to work hard in order to place well in search. However, keywords are only part of the picture when search engines decide what to put on the first page of search results. Search engines look for something called Domain Authority. It measures the extent to which a website is backlinked from others.
By working with influencers, your brand can increase the number of backlinks to your website and social media profiles. For example, influencers who have their website will place links for products they promote there. In other cases the link might be placed in social media posts.
More Organic Content
The more content you create through influencer marketing, the more opportunities you have to rank higher in Google search results. Writing a guest post or collaborating on content with another high-authority site is a good idea. This content will likely rank much higher in search while spreading the word about your brand.
Copying someone else’s influencer marketing campaign entirely is not something we would suggest, but you can learn a lot by taking a look at what has worked successfully for other organizations. Here is the link to 20 killer examples of influencer marketing.
Influencer marketing is a huge topic with lots of delicate details worth talking about. Write in comments below what you would like for us to break down next time :).