What is the importance of influencer marketing?
The rise of social media around the world has revolutionized the way we communicate and share information. Not only in our personal life, but the applications of social media have entered the world of business. Marketing through social media channels is the new trend, and many companies are tapping into this new form of marketing. This article hopes to highlight the importance of influencer marketing.
Simple introduction of influencer marketing
An expert in the field respected for his/her opinion is recognized as an influencer. They are also active on the Internet and have some followers. They can be a journalist, celebrity or a blogger. When these respected people publish something about a particular topic, they will be followed by a large number of people. It can even affect the purchasing decisions of many customers. For this reason, business organizations must integrate influencer marketing techniques into their marketing mix.
The rise of influencer marketing techniques
A well-known public figure who can promote your brand regularly is a great idea, and more companies are recognizing how influencer marketing can be as powerful if not more powerful than traditional sources of marketing. Therefore, influencer marketing might be the next big thing when it comes to advertising. Here’s why:
1) Influencer marketing is powerful
There are ways you can help boost sales. However, nothing can beat the record hit by influencer marketing in recent years. Studies have shown that direct word-of-mouth marketing from consumer to consumer (as done in influencer marketing) has generated more sales than paid advertising.
2) It is social and proliferates fast
As the world has slipped into the clutches of social media, this may be the time for your company to do so. Social media is not just an alternative to traditional media; it’s like replacing traditional media on your throne. Before that, consumers buy material based on what they see or hear. Today, social media is the new thing; consumers can easily communicate with their fellow consumers and can make better purchasing decisions by discussing their experiences with a product or service. The use of social media is growing in different age groups. Influencers communicate with consumers through these platforms and this makes influencer marketing a crucial indicator of any successful marketing strategy.
3) It is much better than paid ads
It’s annoying when you see Internet content, and suddenly an ad appears. About 198 million people use ad blocking apps to block ads, and what happens to the money spent on those pop-ups if most users take steps prevent them? You might lose a lot of money if you continue to use this method. It is time for online marketers to switch to other forms of marketing that customers trust. Consumers trust influencers and their recommendations; you may want to spend more time working with influencers to improve your business strategy.
4) It helps you perform in general
Influencer marketing has the potential to improve the overall performance of your business since it is one of the most profitable channels to obtain customers. The fact that your competitors are already spending more money on this should bring attention to this approach.
Influencer Marketing is a very flexible tool that can be used for any company or brand, regardless of its size. Here are some benefits.
When working with influencers, you do not need to have a significantly large scale campaign (eg. national or international campaigns). It is just as effective, if not more, at the local or regional level. This is because your target group can be narrowed down easily based on types of influencers and their respective audiences. For example, a Singaporean influencer is more likely to have Singaporean followers.
Since the size of campaigns and investment levels are flexible, influencer marketing can be a cost-effective option for anyone. The size of the campaign can be adjusted to any budget based on the company’s circumstance.
Social Media houses a staggering number of users. Therefore, if influencer marketing is done correctly, it becomes a good opportunity for small brands to improve their brand awareness.
More than just existing on the Internet, companies need to expand their digital interface to social media sites to take advantage of this powerful technological revolution. Most marketers place a high value in improving social media marketing.
Lets look at three companies which have used influencer marketing successfully.
Audible is an Amazon Foundation with over 180,000 recordings of books. The company brought its social media marketing campaign to the next dimension by partnering with YouTube users. The primary objective of this marketing campaign was to encourage sign ups. At the same time, they needed to develop brand awareness and improve user commitment to the monthly registration service.
Since Audible had a broad based target audience, they chose to partner up with influencers in various disciplines. They include games, entertainment, lifestyle, movies and animations, and the list goes on. After undergoing an influencer marketing campaign, Audible recorded a reach of 132 M viewers and has received about 83 M views.
Being one of the few big brand names in the sports apparel world, Adidas leveraged on influencer marketing strategies to compete in the industry. The brand opted for a marketing strategy targeted at youths. The social media marketing strategy helped the sports brand increase its bid by 24.2% between January 2015 and January 2016.
Firstly, the brand worked with Selena Gomez to start the #MyNeoShoot contest on Instagram. Other influencers involved include Instagram influencer Iga Wysocka. Subsequently, the company also encouraged fans to share their content using the #MyNeoShoot label.
As a result of this marketing campaign for social media, Adidas received about 12,000 entries and its hashtag acquired about 71,000 posts.