All businesses seem to be engaging in some form of influencer marketing. When you open Instagram or Twitter, you will see hundreds of brand endorsements from social media influencers or celebrities. As an entrepreneur, it’s normal to develop some interest in this form of marketing. But before you incorporate it into your business, it’s crucial to find out how effective influencer marketing is?
First of All. What is Influencer Marketing?
This is a strategy where a business uses a particular influencer to market its products or services. So far, you have probably come across thousands of influencer marketing campaigns. A good example is how Nike partners with famous athletes or the collaboration between Dunkin Donuts and popular TikToker Charli D’Amelio.
Influencer marketing isn’t all about promoting products or services. Some brands use this opportunity to increase their awareness. Most influencers have lots of followers. Therefore, through this mode of marketing, you can reach some of your potential customers.
It’s also worth noting that influencers can be celebrities or anyone skilled in a specific niche, such as a chef or artist. This type of marketing isn’t all about hiring a celebrity with millions of followers to advertise your product. It requires thorough research, assessment, and execution.
Crucial Statistics about Influencer Marketing
To gauge how effective influencer marketing is, here are a couple of statistics you should know.
- Influencer marketing can deliver five times ROI for every dollar spent.
- 53% of marketers believe that influencer marketing is more effective than SEO.
- In the last quarter of 2022, more than 80% of marketers mentioned that they would continue focusing on influencer marketing.
- Out of all social media platforms, Instagram is the best place to run influencer marketing campaigns.
- Influencer marketing delivers more quality leads than other channels.
- Recent research shows that Gen Zs are more likely to be persuaded through influencer marketing.
- 79% of marketers use influencers to increase brand awareness.
- The influencer marketing industry has so far reached $17 billion, and it’s still growing.
These figures are just crazy, and are enough proof of how effective influencer marketing can be. Still, have some doubts? Let’s dig a little deeper.
What are the Benefits of Influencer Marketing?
For the modern business owner, there are lots of benefits you can reap from influencer marketing. Here is a comprehensive list of what you can get from this form of marketing.
Guaranteed Boost in Brand Outreach and Awareness
If you are running a startup, you probably have a few social media followers. That means your social media campaigns probably don’t reach many people. Influencers, on the other hand, tend to have a shitload of followers. Imagine if such a person markets your brand or products. You will reach plenty of people who have the potential to become potential customers.
Increase in Trust and Credibility
They call them influencers for a reason. These guys can influence people to buy almost anything. With enough research, you can find an influencer within your niche who can persuade their followers to check out your business. What I love about influencer marketing is that the results occur almost immediately. Unlike other marketing methods, influencer marketing won’t take years to cultivate trust amongst your audience.
Access to Better Content
As a marketer, it’s normal to run out of ideas sometimes. But with an influencer, you get access to fresher and better content. You can use their charm to connect better with your audience. One of the perks of working with experienced influencer marketers is that they may come up with their own ideas.
In some scenarios, influencer marketing leads to the formation of lengthy partnerships, which can result in long-term success. When you find an influencer who is passionate and delivers lots of quality leads, you can run an annual campaign that will mutually benefit both of you.
It Complements Other Marketing Techniques
What I have learned over the years is that instead of comparing marketing strategies, you should combine them to boost your brand awareness and sales. Through influencer marketing, your brand can gain a lot of popularity within a short time. As a result, that can boost your SEO and advertising campaigns. If an influencer is sending lots of people to your website, Google algorithms will take note of this and reward you with higher rankings.
It Offers Higher ROI
Understandably, most business owners are reluctant towards engaging in influencer marketing because of the high costs of hiring celebrities. But influencer marketing delivers five times the return on investment for every penny spent. When you do the math, it’s a pretty good deal. With this mode of marketing, you are guaranteed a boost in traffic, leads, and sales.
Let Me Help You Get Started with Influencer Marketing
There is no doubt that influencer marketing is one of the most effective marketing strategies out there. Today, many brands have partnered with influencers. Some have even gone the extra mile of forming long-term partnerships because of the benefits they are getting. Your business can also reap the benefits of influencer marketing.
If you don’t know where to start, hit me up today, and let’s have a quick chat. Using my marketing experience, knowledge, and contacts, I can help find the best influencer for your brand. I can also create a highly-effective influencer marketing strategy to increase your brand awareness and sales.