4 Reasons To Invest In Influencer Marketing

Over the last few years, Influencer Marketing has become a favorable strategy that many brands, big and small, consistently incorporate into their marketing campaigns. Today, research reveals that utilizing a social media influencer program can provide a better ROI than investing in traditional, paid advertising as word-of-mouth generates more than twice the sales of paid advertising.1 Additionally, according to a study by Ogilvy, Google and TNS, 74% of consumers identify word-of-mouth as a key influencer in their purchasing decision.2

What is Influencer Marketing?

Influencer Marketing has been around since the good old Mad Men days. Over time, this strategy has evolved from strictly utilizing celebrity endorsements, towards capitalizing on industry thought leaders & authority figures – internet personalities with a large following and strong opinions. This impulse factor, grounded in jones-effect has seen tremendous success in recent years, in part to the rapid adoption of social media world-wide. Social networks have provided new means and opportunities for communication, allowing individuals to foster strong connections with their followers, while easily & quickly sharing their opinions to large audiences across the globe.

Consumers have always looked to their peers for validation and guidance when it comes to purchasing decisions. However, in today’s marketplace, a phone call to a friend has been replaced by a quick online search or a swipe through Instagram. The internet and social media have created a unique opportunity for brands to capitalize on the power word-of-mouth. Influencers are sharing their opinions and providing demonstrations reaching thousands and in many cases, millions of followers daily through Facebook & Instagram posts, tweets, blogs, videos, and more.

Benefits of Influencer Marketing

Any brand can easily implement an influencer marketing campaign. However, before you make any changes to your brand’s marketing strategy, you must first find out if this avenue the best way to achieve your brand’s goals.

  • Grow Audience

    Is your brand having trouble gaining new followers? Capitalizing on an influencer’s large audience provides opportunities for brands to introduce their products and services to a new set of eyes and ears, and quickly grow their following.

    Tip: Investing in paid-advertising is no longer the best, or only option to grow your audience. Creating an influencer network is a great way to cast a wider net, having your content shared across a larger audience, with the added oomph of a testimonial.

  • Share Values

    Would sharing your brand’s values help build loyalty and foster stronger connections with existing and prospective customers? Collaborating with an influencer that aligns with your brand’s values, mission, and goals can double your efforts to spread your story, far and wide.

    Tip: It’s ALWAYS important to choose an influencer who best connects with your brand’s mission. This important facet will allow your values to truly resonate with the right audience. Simply because these followers share similar values, opinions, and buying habits with the influencer, ultimately converting new followers to customers.

  • Diversify Customer Base

    Does your brand struggle with breaking into new markets and demographics? An influencer with a diverse following can provides greater opportunities to diversify a brand’s customer base.

    Tip: Partnering with an influencer with a more diverse audience sparks new life into your brand, as their endorsement will reach many different types of individuals. Once they begin to promote your brand, their followers will become increasingly interested to learn more. Overtime, you will witness a growth with a new, valued audience and/or market.

  • Build Trust

    Does your brand have partnerships advocating on your behalf, or are you the only one tooting your own horn? As stated above, consumers are continuously looking for purchasing advice and validation. Word-of-mouth from an influencer program can provide brands with a much stronger ROI than self-promotion, forming a substantially deeper trust in your company’s products and/or services.

    Tip: An influencer has built a strong and trusting relationship with their followers. Their endorsement highlights their trust and belief in your brand, and in return, encourages their followers to trust your brand.

Grow Audience

Is your brand having trouble gaining new followers? Capitalizing on an influencer’s large audience provides opportunities for brands to introduce their products and services to a new set of eyes and ears, and quickly grow their following.

Tip: Investing in paid-advertising is no longer the best, or only option to grow your audience. Creating an influencer network is a great way to cast a wider net, having your content shared across a larger audience, with the added oomph of a testimonial.

Share Values

Would sharing your brand’s values help build loyalty and foster stronger connections with existing and prospective customers? Collaborating with an influencer that aligns with your brand’s values, mission, and goals can double your efforts to spread your story, far and wide.

Tip: It’s ALWAYS important to choose an influencer who best connects with your brand’s mission. This important facet will allow your values to truly resonate with the right audience. Simply because these followers share similar values, opinions, and buying habits with the influencer, ultimately converting new followers to customers.

Diversify Customer Base

Does your brand struggle with breaking into new markets and demographics? An influencer with a diverse following can provides greater opportunities to diversify a brand’s customer base.

Tip: Partnering with an influencer with a more diverse audience sparks new life into your brand, as their endorsement will reach many different types of individuals. Once they begin to promote your brand, their followers will become increasingly interested to learn more. Overtime, you will witness a growth with a new, valued audience and/or market.

Build Trust

Does your brand have partnerships advocating on your behalf, or are you the only one tooting your own horn? As stated above, consumers are continuously looking for purchasing advice and validation. Word-of-mouth from an influencer program can provide brands with a much stronger ROI than self-promotion, forming a substantially deeper trust in your company’s products and/or services.

Tip: An influencer has built a strong and trusting relationship with their followers. Their endorsement highlights their trust and belief in your brand, and in return, encourages their followers to trust your brand.

Want to Learn More?

Feel free to reach out and pick our brains to learn more about implementing a successful Influencer Marketing campaign.

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Resources
1.  Iliyana Stareva | Influencer Marketing Statistics

2. Ambassador | Word of Mouth Marketing Statistics