When a brand reaches out to key people in the industry and asks them to promote their product or service to their followers, that’s called influencer marketing. There are a number of ways brands can use influencer marketing, including a guest blog, a product review or a post on the influencer’s social media channels. Regardless of which you choose, is it worth the time and financial investment? Take a look:
Every marketer has to keep a close eye on how different marketing strategies are affecting the bottom line. According to a poll of marketers conducted by Tomoson, influencer marketing is earning businesses $6.50 for every $1 spent on the tactic. Some businesses even reported making $20 or more per $1 spent, a return that cannot be found using traditional marketing channels. This same poll shows that marketers are ranking influencer marketing as the best way to acquire new customers, beating both email marketing and organic search marketing.
Why do customers follow influencers on social media? Because they trust and value what they have to say. When brands have the opportunity to team up with an influencer for a promotion, the influencer’s followers will see the brand in a whole new light. If the influencer says that’s a high quality product that is worth a try, the audience listens. Getting this kind of trust takes much longer and much more effort through other channels, so take advantage of the ease in which it comes with influencer marketing.
Reaches a targeted audience.
When beauty brands run a commercial on television, for example, they can target the channel and time that the commercial runs, however they can never be certain who will see it. With influencer marketing, brands get much more control over who they are reaching, and the audiences tend to be very targeted. When a popular beauty blogger reviews a makeup product, brands can know for certain that the people who follow this influencer are genuinely interested in makeup. When the post is on social media or a blog, the marketer also gets the unique opportunity to see feedback right from the customers’ mouths in the form of comments. This invaluable information can help marketers understand what customers like and dislike about the product without having to spend thousands of dollars on market research.
Where should you target?
Now that you understand the effectiveness of influencer marketing, you have to figure out which platform to use. According to the Tomoson poll, marketers believe that blogs are the most effective platform, followed by Facebook. It is interesting that YouTube, Instagram and Twitter trailed far behind with about 5-6% each. Although these platforms may not work for everyone, each brand should look at what’s best for their products. For example, beauty supply distributors would probably prefer YouTube or Instagram since these are visual platforms that attract millions of followers.
Have you had any success with influencer marketing? Tell us about your experience with this marketing tactic in the comments below!