Influencer marketing isn’t exactly a new player in the game, but it’s still a mystery to many brands.
Simply put, influencer marketing is the process of building a relationship between a business and an individual who has a reliable following in the digital world, whether it be on Facebook, Instagram, YouTube, TikTok, or other social platforms where your audience could be present. The goal of influencer marketing is usually to raise brand awareness and strengthen the brand’s affinity to its target market by presenting a real-life consumer and banking on their own ‘reviews’ of the brand’s product or service.
And in this age of participation, it is becoming a bigger deal than ever. So, should your brand do influencer marketing?
First, what do OTHER marketers think of influencer marketing?
- Based on a survey done by Mediakix at the end of 2018, 89% of marketers think that the return of investment from influencer marketing was as good as the other channels that they were using. 65% of the marketers surveyed also said that they plan to add more budget to their influencer marketing campaigns for the next year.
- According to Semrush, “We have already seen that the influencer marketing industry is set to be worth $15 billion by 2022, which is up from $8 billion in 2019.”
- 49.6% of influencers say that the majority of their followers like to see genuine and original content. (Zine.co)
- The Digital Marketing Institute states that “About three-quarters of consumers trust opinions they find on social media, including those from friends, families, and influencers, to help them make the right decision about buying a product or service. This creates huge opportunities for marketers in the promotion of products (sponsored or not) to reach new audiences and influence key cohorts such as Millennials and Gen Z.”
Knowing that, how can influencer marketing affect YOUR digital footprint?
- Expands your reach.
With a multitude of influencers and an even greater multitude of brands benefitting from partnering with them, it can be tempting to go down that road blind and just engage them ALL (budget withstanding). But according to Semrush, “your goal should be to reach the people who are most likely to be interested in buying your product. This means working with influencers who are recognized in a relevant niche.”
Partnering with an influencer will only help expand your reach if your time and efforts are invested towards influencers in the niche or industry your product/service is in. Even nano-influencers can help blow up a brand if the niche is targeted enough.
- Increases your engagement rates.
According to The Drum, “Engagement trumps reach.” Influencers with a few thousand followers grown organically tend to have “on average, 7x higher” engagement rates, with more solidly built relationships. So if your brand campaign’s goal is to talk to more people and use those insights to generate a better strategy, then engagement is definitely key. Build a relationship with an influencer with a solid grasp on increasing brand engagement.
- Maximizes the reach of your partner influencer.
Engaging in a long-term partnership and building a good relationship with an influencer helps reinforce your brand to enough people. That kind of reinforcement may contribute to people being curious enough to engage with your brand themselves. Long-term influencer partnerships open up the possibility of doubling or tripling your reach. Semrush puts it best: “an influencer will drive more traffic to your website and increase your social media exposure, [spreading] your message to a broader audience through influencer networks.”
- Brings you places with authentic content.
Influencers craft posts to be as authentic and honest to THEIR brand and following as possible. If you do your research and find an influencer whose values align with your own brand, promotion looks more authentic, honest, and believable, too. Not hardsell at all!
As Mediatoolkit, mentions, “niche-driven influencers are seen as (90+%) more credible and believable than others on social media, so building these relationships alongside a content strategy to create blog posts, infographics, videos and other unique content for niche channels and sites is a must!”
A lot of big changes are always happening in the digital landscape, including digital PR, social media, and influencer marketing. But even as time and circumstance change consumer behavior, authenticity will always be key in making your mark in the industry.
To know more about how NGP-IMC can help your business make its mark in the industry, click here.