Influencer marketing is a strategy that consists of building a link between a brand and an influential person. This strategy has long been established in television advertising with celebrities endorsing products and becoming a brand's spokesperson. In the last couple of years this strategy has spread to social media and given rise to influencer marketing.
Influencer marketing is a fantastic way for your brand to become quickly known; not only do you get an endorsement from the influencer but you also open up a direct channel to their followers. In picking the right influencer you are likely to target a curated audience that have an interest in your product. This powerful marketing medium has transformed marketing and is critical for your businesses to implement in every day practices.
The Rise of Influencer Marketing
The influencer marketing industry has seen a considerable rise in the past 10 years and disrupted traditional advertising strategies. Don’t just take our word for it, let’s look at the numbers. While the rise of influencer marketing occurred over the past decade it exploded during the COVID Pandemic. In large part, this was due to the increased time on social platforms and the need for businesses to interact with their customers virtually.
Influencer marketing was quite widespread with 93% of brands using this form of advertising in 2020 and another 71% stated they planned to increase their influencer campaign charges between 2021 and 2022. Overall the industry is anticipated to be a $15 billion worldwide business. Influencer marketing isn’t just a gimmick or temporary trend. It works and brands are investing heavily in it.
Ok, So Now What?
Following this boom in the industry the product has improved and refined itself. Influencer marketing has evolved from overtly self-promotional approaches toward more sophisticated inbound efforts that give off a much more authentic tone. As it stands, influencer marketing is now an integral part of any successful marketing strategy. As investment increases brands are employing more long-term strategies. They are creating longstanding partnerships with ambassadorships with influencers and going past the pay-to-post structure. At the heart of these long-term agreements is a drive to promote authentically. Authenticity is significantly important to a successful campaign. Consumers want authenticity and transparency, and companies will choose influencers with whom they have a genuine relationship.
Why Using Influencer Marketing is Important
1. Influencers have a wide range of positive impacts on a brand
They sway customer behavior and decisions, help companies establish personality and produce public name recognition and trust. There are many other impacts influencers can have, there are just the clearest and most obvious impacts influencers can have.
2. It increases the credibility of your brand
Influencers are typically liked, trusted, and respected by their audience. This gives them a lot of power and credibility that they can extend to your brand. Their followers believe in their opinions and recommendations. A collaboration with an influencer will make your marketing strategy feel less like marketing, and more like the traditional word of mouth recommendation. This explains the high ROI rate the influencing typically produces.
3. It offers inconceivable value to your target audience
Generating content that entertains, educates, and inspires your target market is at the core of influencer marketing. Since influencers are already in sync with the population's interests they serve, it’s easier to offer authentic content about your brand values. The approach takes the challenge of authentic content creation out of your hands and puts it into the influencers. This is a more effective approach because the influencer creates high-quality content for their followers on a regular basis and is effective at doing so.
4. It builds successful partnerships
Starting and maintaining solid connections is a critical aspect of establishing a long-term influencer marketing strategy. Maintaining engagement and communicating with influencers will help you create continuous quality content. A long-term influencer collaboration between businesses and influencers helps save time, onboarding, and money while establishing trust and having a more considerable impact on the target followership.
5. It saves both money and time
Influencer marketing is much more precious than traditional forms of marketing. Just using small amounts of money or even sample products to pay an influencer will allow your business to reach a large and targeted audience. Additionally, it takes time to produce your own advertisement campaign. However, with influencers, the campaigns are run by them. While this may seem scary influencers are experts in talking to their audiences and creating authentic content. The high-quality content produced will lead to considerable ROI and free content to prompt on your own platforms. Working with influencers saves you time and money. This one-two punch makes influencer marketing absolutely critical to any business.
Wrapping things up
Working with influencers has many benefits that can help promote and grow your business rapidly. The cheap and high-quality content in addition to the audience exposure that influencers provide make them uniquely valuable. Utilizing this rapidly growing advertising medium is critical for any scaling business.