Forming a partnership or collaborating with influencers has become one of the most popular marketing methods these days. It’s more than a trend; it has established itself as a must-have digital marketing strategy that companies in all industries can implement.
Influencer marketing has definitely become a major player in modern marketing, with more and more companies using it to boost their business.
If you are considering influencer marketing as a foreigner, you might be wondering how exactly influencers can help a business. How to find and collaborate with the right influencers? And, the most important question, how effective will it be?
Well, there are various variables that impact the answers to these questions. But it’s understandable that you want to get a general idea of what influencer marketing is and how effective it is for businesses and brands before you jump into it.
Let’s take a closer look at this topic and explain how effective influencer marketing can benefit your business.
What is influencer marketing?
Influencer marketing is simply a method used by brands and businesses to promote their products and services through recommendations or endorsements from influencers.
An influencer is someone who has cultivated a loyal following on one or more social media platforms through the creation of content. These people produce different types of digital content, such as video blogs or “vlogs” and blogs.
Since 2019, the value of the global influencer marketing market has more than doubled, reaching approximately $ 13.8 billion in 2021. Brands typically use influencer marketing to increase brand awareness, sales and / or or conversions to a specific target audience. And influencer marketing is well suited for these purposes because of its nature and effectiveness.
With very active social media profiles and an established loyal following, a social influencer has gained the trust and attention of their fans and followers over time, and thus can increase your customer base and the number of people who know. your mark.
Hiring influencers is all about making a deal with them by paying them to promote or create content that supports your brand. You can sponsor their content to promote your product or service, and thus generate purchases or subscriptions.
Now that you know what influencers are and how brands are using them for digital marketing, here are some facts that show how effective they are:
Great receptivity to word of mouth
Social media connects users online and increases the reach of people’s words. These two factors make influencers powerful digital marketing partners. Their subscribers trust what they say because they see them as a reliable source of information.
Social media also serves as a digital medium to cost-effectively spread the word about anything far away, even across international borders. People trust what people they know or their loved ones say about something, and social media is the best source for finding those kinds of words from trusted friends.
Influencers are well known and trustworthy in their niche. They are the gatekeepers of messages and content on their social media channels, and proof of how one person’s thoughts and feelings can influence the state of mind of others. This means that their followers, who are potential consumers, are more receptive to what they say about a brand.
On Twitter, for example, new search found that influencers on the platform have established a fairly high level of trust with their followers. Almost 40% of Twitter users say they made a direct purchase based on an influencer tweet.
Google also found that 6 in 10 YouTube users would follow their favorite creator’s advice on their favorite TV or movie personality. This statistic says a lot about influencers, and one of them is how people view them differently from celebrities.
More and more people, especially those in the younger demographic (millennials and Gen Z), think influencers are more credible than celebrities, which is remarkable for brands.
High average earned media value
Marketing is all about promoting a brand by publicly posting tailored content to grab the attention of consumers and earn their business.
One way to measure the effectiveness of your marketing is to look at media value, which is the monetary representation of media advertising that a brand derives from promotional efforts other than paid advertising.
According to a 2019 influencer marketing survey conducted by Influencer Marketing Hub, companies that use influencer marketing gain exceptional media value. The average earnings ratio for these companies was $ 18 per $ 1 spent on sponsoring influencers to promote their brand.
These types of numbers where businesses earn $ 5.20 for every $ 1 spent on influencer marketing in 2021 have yet to be replicated when using other marketing tactics. It proves the value of influencer marketing that if you want to build awareness of your brand, influencer marketing is arguably the best option outside of paid advertising.
However, earning these returns can only be achieved by finding and partnering with the right influencers, such as those who are in the same niche as your business.
Strong marketing reach and growth potential
As already mentioned, influencer marketing is no longer just a trend. It is an essential digital marketing strategy. Influencer marketing won’t fade away until it’s done growing. It has great growth potential which can help your business grow with it.
More and more people are becoming influencers and choosing influencer marketing as a professional career. This is reflected in the continued growth of social media platforms, providing more opportunities for people to become influencers and brands to reach larger and more targeted audiences through influencer marketing.
Apart from that, there are also other content options that influencers create that brands can choose from, including audio-only types of content like podcasts. This creates new possibilities for brands to experiment and reach new prospects.
In addition, influencer marketing has also been increasingly standardized, more and more influencer marketing agencies have been created to represent influencers and help brands find the right partners for them. It makes everything more streamlined.
Without a doubt, influencer marketing is a valuable and effective option that you should definitely consider when promoting your business and offers. It can help you attract more eyes and ears to your brand and drive more paying customers to your business.
If you are going to use it, make sure you understand it and find the right influences and micro-influencers to harness its potential and achieve your goals.