What is Influencer Marketing?
Influencer Marketing is a type of social media marketing. It uses online influencers to drive a brand’s message to the target audience. Instead of promoting a service or product directly to consumers, marketers hire or inspire influencers to spread the word.
When you log in to your social media accounts via services like Cox cable service, your feeds are filled with product tags and recommendations from influencers. The reason for the growing popularity of influencer marketing is that it works. People find it far easier to trust the recommendations of social media personalities than those by companies. They are therefore more likely to act upon them and bring profit to the businesses.
Who is an Influencer?
An influencer could be anyone who has a large as well as loyal social media following. They earn credibility over time by virtue of their informative and useful blogs, posts, and other content. Due to their reputation and reach, businesses choose to partner with them to get their message across to the consumers in the most effective manner.
Advantages of Influencer Marketing
Influencer marketing campaigns have a lot of benefits, for the business, the influencer as well as the consumer. Let’s have a look at some of them.
#1. Build Trust & Credibility
Users follow social media influencers because they find them inspiring. When an influencer establishes themselves as an authority in a niche, any insight or recommendation they give is deeply valued by the followers.
Research shows that when influencer tweets are combined with those from brands, the conversion rates are higher. Also, according to reports, people are likely to buy a product when they see an influencer tweet about it. This means that if an influencer recommends your brand or service, consumers are more receptive. It is thus easier for a business to gain their attention and convince them. And if you deliver, it eventually builds trust and credibility for your brand.
#2. Connects Your Brand to Gen Z and Millenials
Millennials and Gen Z use and prefer social media content. In fact, they’re one of the prime reasons for its growing popularity. So if you want to reach out to this generation, influencer marketing is a strong tactic to appeal to them. By attracting consumers from these segments, businesses can gain access to a highly profitable demographic. It’s a win-win for all.
#3. It’s Focused & Relevant
When a business’s products and services align with an influencer’s niche, it can convey a more focused message to a target audience. This is the biggest reason why influencer marketing generates a high ROI.
If you are a sports shoe brand, you should collaborate with influencers that are passionate about fitness and sports. By partnering with a fitness blogger, your can significantly increase your chances of reaching the relevant audience. That’s because the people who would read the blog are already sports and fitness enthusiasts (that’s why they’re following the influencer in the first place). So when your message connects with an already interested and keen audience, it is easier to convert them into buyers than when it reaches a wider generic audience.
#4. It’s Cost-Efficient
Influencer marketing is a cost-efficient marketing solution (unless you’re working with top-notch celebrities). When you choose to collaborate with a celebrity, the audience they’re capable of reaching is more generic. This means that the chances of conversion would be low even though the message may reach millions.
So partnering with micro-influencers pays in the long run. Their following may be less than celebrities, but their followers are certainly more focused as well as engaged. Besides, micro-influencers are not expensive to deal with. Most of them charge less than $500 for a company-sponsored post. Some even work in exchange for free services or products. Thus, influencer marketing is cheaper as compared to other kinds of marketing.
#5. It’s Not Pushy
A big reason why influencer marketing is effective is that it is not pushy. People follow influencers by their own choice. Nobody forces or compels them to do so. They look forward to the opinion and content of the influencers. So, when a brand reaches out to an audience via one, they welcome it.
Influencer marketing is more convincing than ads. People do not give much value to promotional content in ads. This is why many users have ad blockers on their cell phones as well as computers. But if a credible influencer recommends the same product or brand, consumers are open to trying it.
Influencer marketing is a growing trend in digital marketing. Owing to its advantages in terms of cost, reach as well as profit, businesses, and marketers are increasingly making use of this strategy. In the future, one can expect to see many more brands and influencers collaborate on long-term projects.