Marketing has been around for ages. It’s the strategic tactic that companies use to reach a large population and grow their businesses. A few years ago, one of the most effective marketing was believed to be celebrity endorsements because the public trusted certain people and if a celebrity used a product, it must have been great… right?
As more and more celebrity endorsements began circling around the internet and television, consumers started questioning how much these celebrities were being paid to market these products, and wondering if the products being endorsed were any good at all. All trust was lost and sales started to slump.
Enter into the game influencer marketing. Today influencer marketing one of the most affordable and effective forms of marketing strategies out there. Here are 5 facts that make influencer marketing your best choice when trying to grow your business and brand.
1. Large Audience Reach
Choosing the right influencer to market your product empowers your brand with the ability to reach a large audience based off the influencer’s following. Influencers use their audience to market your product and have the ability to amplify to ten’s of thousands and even millions of people. The followers are typically people who have a common interest or idolize the influencer. They buy into what the influencer says, and that goes a long way in marketing. Remember, it’s the quality of the influencer and their audience over the quantity of influencers or followers a that an influencer has.
2. Stronger Engagement
Considering that influencers are just normal people and have built a following based on their interests and lifestyle, their relationships with their audiences tend to be highly authentic. Influencers are seen as role models, and not someone trying to sell you something. They are more so the people who write online reviews and recommendations about products they try themselves. Influencers like to connect with their followers and unlike celebrities, they are more likely to answer comments and questions from their audience members further engaging their audiences with your brand.
3. Referral Sales
Who would you trust more… a friend or a paid celebrity? A friend. Influencers are friends. They are seen trustworthy sources, and their recommendations go a long way with their loyal fan base. 81% of consumers these days report that they make their purchasing decision from reviews and recommendations of their peers. By effectively using influencer marketing, your product could be chosen over the hundreds of similar products out there as a result of a recommendation from a trusted influencer.
4. Delivers Great ROI
Influencer marketing is one of the most affordable marketing strategies and delivers some of the highest ROI across most industries. Typically, every $1 invested into an influencer marketing campaign allows your company to earn as much as $11 in return. Influencers have a gift in guiding the public and sculpting their purchasing decisions based on recommendations. This means that even the smallest investment if planned and executed correctly, could go a very long way.
5. Building Brand Loyalty
Customers want products they can trust. Influencers have the ability to build trust and loyalty between the brands they represent and their own audiences. When a brand continues to create a genuine and strong relationship with the influencers and their followers after an initial campaign is finished, the brand uncovers future sales opportunities that didn’t exist before. Once an influencer and their audience trust your company and your product, you develop deep brand loyalty that can result in limitless upselling opportunities.
To ensure that your influencer marketing efforts yield the highest results, here is a roadmap to influencer marketing you can use as a guide.