Social media influencer marketing is a marketing strategy that has been on the rise for the last few years. Anybody using social media these days would notice their feed filled with brands – big and small, being promoted by influencers. The next obvious question that arises is, who are influencers. Individuals who have worked towards creating niche content for a particular industry or target audience, garnering loyal following over time, are called influencers. There are three broad types of influencers.
- Micro-influencers: They have less than 10K followers.
- Macro-influencers: They have between 10K to 1M followers.
- Mega-influencers: They have more than 1M followers and are celebrities in their own right.
Lately, there is a fourth kind of influencer on the rise – Nano-influencers. These are people with approximately 1K followers. While they have a fewer number of followers, their followers show tremendous faith in their content. Nano-influencers are the best to work with if you are a small brand in the initial stages of formation.
Why does influencer marketing work?
Influencer marketing works because influencers have built a high level of trust with their audience. They establish themselves as authority figures in their respective industries over time. So, if they endorse a brand, it is a validation of the brand’s value for their followers.
Since the audience views influencers as opinionated leaders of their fields, the content posted by the influencer automatically becomes acceptable. As per a recent survey, 60% of consumers buy services and products due to recommendations on social media. In a way, the essence of influencer marketing is very similar to that of word-of-mouth promotions.
Listed below are a few points that explain the advantages of influencer marketing.
Influencers create relatable quality content:Influencers thrive by creating content that is relatable and appreciated by their followers. By trusting the influencer with marketing your brand in their personal fashion, you are allowing them to project your brand in a whole new light while keeping your brand values intact.
Consumers trust the content posted by influencers:Influencer marketing is all about creating a relationship based on trust. Most of your brands’ potential consumers have been following and engaging with your chosen influencer for a substantial period, which is a sign of trust between them. Consumers find it easier to buy a product or service if they hear about it from someone they know. As per research, 88% of end consumers choose to follow online recommendations as much as recommendations made by people they know personally.
Influencers do not suffer from Ad blocks:As per reports, 615 million people use Adblockers to avoid advertisements. Thus, the biggest perk of influencer marketing is that audiences do not block or skip the content posted by them. Rather they look forward to these videos, even if they include brand endorsement. On the contrary, followers find such content interesting. They consume and engage with the posts, which gives brands valuable insights into the consumers’ demands and queries.
What are the Benefits of Influencer Marketing for Your Brand?
There are many marketing strategies a brand can use to promote themselves, especially if they do not face budget constraints. However, promotions using influencer marketing is quite different from any other kind of marketing activity. Using influencer marketing, you as a brand are speaking to your potential consumers via an individual who is endorsing your brand. The impact such an act has on the end-users is unparalleled.
Here are a few points on the benefits of influencer marketing.
Insight to consumer needs:Upon completion of the influencer marketing campaign, the influencers share key insights, like likes, shares, clickthrough rate (CTR), etc. Going beyond the analytics, most influencers may also give their observations on what can be done differently for a better response to a future campaign. Not only are these insights beneficial for your business, but they may also help you reconsider how you strategize for your future marketing campaigns. The biggest advantage is that you get real-time feedback from your customers on what they think about your brand. This can save you from spending money and time on conducting market feedback.
Builds credibility and trust:The credibility and trust established by influencers are extended to your brand when they endorse it on their social media. The audience trusts them and ultimately believes that if the influencer likes your brand, it must be good. Your target audience would be more willing to invest in your brand if it is promoted by an influencer who is a known figure in their industry.
Cost-effective:Compared to other marketing strategies, running an influencer marketing campaign costs less and provides a better return on investment. Additionally, you can pre-decide your campaign budget and look for an influencer who would be willing to accept your products in exchange for promoting them. Since there are many ways of setting up payments with the influencer, this campaign model is not limited to bigger brands with big budgets only.
Time-saving:Any form of marketing campaign takes time. From strategizing to planning and finally executing the campaign is a long process that takes many working hours away from your team. The end result may not even garner the same kind of results that influencer marketing would. By investing in influencer marketing, you are handing over the majority of the work over to the influencer, along with the shared responsibility of making the campaign successful.
The advantages of influencer marketing speak for themselves and prove their worth time over time. Many well-established influencers have become industry leaders. They not only help promote brands but also have started their collections in partnership with global brands. However, to derive complete benefits of influencer marketing, it is important to identify your target sector or product, the target audience and the relevant platform.
For instance, if you are interested in stock trading and want to establish yourself as an influencer in this field, you can check out Amplifiers. This holistic influencer marketing platform empowers influencers by connecting them with their peers, offering them a massive content library, and most importantly educating them about the thriving industry of stock trading. The platform is user-friendly and believes in transparency.
Start influencing today!