Everyone says exercise is good for you, but if we’re not seeing results, we won’t want Toto drag ourselves onto the treadmill. Influencer marketing is no different. If you want a strong, healthy campaign for your brand, it’s impossible to ignore the benefits of influencer marketing.
Let’s face it, old school, traditional marketing is dead. Consumers are too smart to be wooed by scripts. Instead of the feel-good factor, consumers crave transparency. We’re officially in the era of influencers, and they are experts in engaging with their online communities. A well-executed influencer marketing campaign will increase brand awareness, grow reach, and drive sales. It’s time to experience these influencer marketing benefits for yourself.
What Is Influencer Marketing
The nfluencer marketing industry may still be a budding, but the art of influence is as old s time. The foundatios of influencer marketing are built on trust and relationship- two things that have always been vital to mankind. This dates back as far as prehistoric times, when primal humans depended on the knowledge and influence of their alpha leaders to guide them to food and safety. This still happens today, although the the conversation is happening virtually. Social media is the online party that everyone’s invited to, and 4.59 billion people are showing up on these online platforms.
More specifically, influencer marketing is a form of word-of-mouth marketing where brands hire social media creators who have expertise and influence in specific areas to talk about the various benefits of the brand’s offerings..
If you want to learn more about the ins and outs of influencer marketing in detail check out our article, “What Is Influencer Marketing.”
Is the Industry All That And a Bag of Chips?
It’s easy to see celebrities or top influencers repping certain brands and question whether it impacts consumer behavior.What’s the catch? Is this industry legit? Or,does it leave more to be desired??
The influencer marketing industry is like one of those magic water growing toys where you just don’t think it can get any bigger, but then it does. It was valued at $13.8 billion at the end of 2021, a steep incline from $4.6 billion in 2018.
Like the classically nostalgic toy, the industry continues to grow and is predicted to exceed $24 billion by 2025. The influencer marketing benefits are irrefutable and irresistible.
The ROI for influencer marketing is $5.78for every dollar spent. Returns like these shows us that influencer marketing benefits (and revenue) have the potential to be uncapped for both brands, and the influencers they parter with.
Influencer Marketing Hub reports that a jaw-dropping 90 percent of their respondents believe it to be effective, and 72 percent believe they receive higher quality customers with influencer marketing campaigns.
93 percent of marketers are already use Instagram to grow their brands- and for good reason. This growth is universal asplatforms like TikTok or Twitch are gaining more attention from big brands as a place to maximize the benefits of influencer marketing.
One of the reasons why influencer marketing is growing so quickly is because it levels the playing field. t’s not just celebrities and big brands that are capitalizing on the effectiveness of this sector. Small businesses and micro-influencers are starting to lead the charge as the industry continues to grow into ‘all that’ and many more bags of chips. Check out these influencer marketing statistics for a deeper dive into the influencer marketing world.
Top 3 Benefits of Influencer Marketing
We know that there many more than 3 influencer marketing benefits, these are the ones that are making the biggest waves.
Influencers Are Large and in Charge
We entered the influencer era because influencers are the ones that the world is looking to. Consumers are starting to prioritize them over celebrities and beyond.
Consumer purchase intent went up 5.2X for influencer content like a tweet, compared to that of a brand’s at 2.7X. Social media users are listening to influencers and care about what they eat, wear, say, and consume.
Forbes wrote that “92 percent of consumers trust an influencer more than an advertisement or celebrity endorsement. It’s not about follower count, or celebrity status.-consumers care most about authenticity.
The benefits of influencer marketing are propelled bythe influencers. They are the experts in engaging youraudience. Because of their ability to inspire action and create high-quality content, they remain the driving force for winning campaigns.
It’s a widely accepted belief that success leaves clues. This is true in every part of the life (including the marketing process). Check out these influencer marketing best practices that are sure to give your campaigns an edge.
Effective Targeting That Works
A niche influencer is someone that creates content for or about a specific area of interest. For example, vegan oatmeal recipes or iPhone photo editing hacks would be niche topics on social media.
Just as you create customer personas for your brand, influencer accounts are rich in specific groups of people that you’re looking to appeal to. You can get a taste of the benefits of niche marketing and finally start meeting your perfect customers.
Instead of casting a wide net with print media or other traditional formats, influencer marketing offers more precision as you can find your ideal consumers and share your message through a person they already know and trust.
More Time and Cost Effective
Influencer marketing is fast and affordable on multiple fronts.
Production is more budget-friendly as you outsource it to influencers that include this in their fees. While this can still be a sizable expense, it’s not as big as hiring out your own photoshoots or hiring celebrities. Many influencers will also work for free products, especially micro-influencers, making your budget negotiable.
While a traditional commercial may seem like a wise marketing choice, they’re often expensive, take longer to go live, and are skipped by tech-savvy consumers. Over 42 percent of internet users claim to use an ad blocker. However, consumers welcome influencer content and actually seek it out, making it a must for your influencer marketing campaign.
While a lot of influencer marketing is transactional or a one-time exchange, long-term partnerships can extend the influencer marketing benefits for both parties. It’s a sustainable approach that may involve frequent collaborations with an influencer that results in a wide range of content and general promotion all-year round.
And, above all, this influencer marketing benefit results in higher return because interest and engagement are just higher. The people want influencer content, so meet them where they’re at.
Top 3 Objections to Influencer Marketing
Just as there are so many influencer marketing benefits, there are also some caveats or disadvantages of influencer marketing.
Influencer Selection Can Make or Break You
Finding influencers that align with your brand is everything. Thirty-four percent of brands struggle to find influencers. It’s hard to navigate the various platforms and find the ones that match your brand, while also avoiding the “fake” accounts. Yes, Tinder isn’t the only place you can get catfished.
For many, hiring out a third-party to take care of this can optimize your time and energy, which is where we would come in and pair you with your influencer soulmates.
“The Agency’s Technical Guide to Influencer Selection,” is another great resource for looking deeper into the qualitative and quantitative data that accompanies influencer selection.
Management and Tracking Takes Work
Tracking and staying on top of influencer marketing is no easy task. Each influencer has varying levels of experience, professionalism, or styles when it comes to how they want to work with you or showcase your brand.
Fifty percent of marketers struggle to manage everything from deadlines to contracts within an influencer campaign. Surprisingly, 33 percent don’t even bother measuring their influencer marketing ROI.
Social media platforms and different softwares are making it easier to track and manage influencer marketing campaigns. However, many still struggle with analyzing and staying in front of the data as they measure the benefits of influencer marketing.
Lack of Forethought and Goal-Setting Will Hurt You
While many want to jump right to finding the influencers for their marketing campaign, it’s not that simple. There’s a lot more that goes into an influencer marketing strategy.
Your marketing goals should be a guide for your selection process whether that be the influencer, platform, or type of content. You want to create a solid foundation at the start to ensure you know what your desired outcomes are so you can review and adjust your efforts along the way to receive all of the benefits of influencer marketing.
Get your frequently asked questions about influencer marketing answered and learn more about common pitfalls or concerns when it comes to the industry.
What Else Should You Know About Running Influencer Campaigns?
Influencer marketing can transform a brand. This symbiotic relationship between influencer and brand has the ability to revolutionize reach, engagement, profit, and more. There are many pros and cons of influencer marketing to keep in mind as you build your strategy.
Remember that authenticity reigns supreme. Video is what consumers want. User-generated content (UGC) is your best friend. And, influencer selection is critical to your campaign’s success.
Staying up to date with trends or platform algorithms isn’t easy. Selection, tracking, and managing your campaigns may prove to be a challenge, but ultimately worth it in the end. Trial and error can be devastatingly expensive. Tap in with a great agency with a pool of influencers that specialize in different niches across multiple platorms. Don’t be afraid of a trial and error approach.
In this multi-billion dollar industry, the influencer marketing benefits far outweigh the potential obstacles you may face. It’s time to take to influencer marketing to give your brand the boost it needs to thrive.
Reaping that ROI
Are you positioning your brand to get the best ROI on its ad dollars? Every brand reaches the point when influencer marketing no longer becomes optional if it wants to stay relevant. Has your brand reached that point in it’s growth? Need help deciding? Schedule a strategy call!