Influencer marketing has taken the digital marketing world by a storm over the past couple of years, and it’s showing no signs of slowing down anytime soon. This year, influencer marketing is projected to become a $6.5 billion industry, up from $1.7 billion in 2016.
Marketers are always looking for ways to expand brand awareness. Investing in influencer marketing is a tactic that should not be overlooked. If you are unsure whether investing in influencers is worth it, here are some benefits that can help guide your decision:
The Creation of Authentic Content
How many times have you considered purchasing a product just because it was recommended by a friend? A recommendation from a peer is still one of the most effective forms of advertising. Consumers are most influenced by content that is authentic and trustworthy. Personalized experiences have always been key to connecting with your audience.
Incorporating influencers into your marketing strategy is a great way to give your audience transparent insights into your products or services with the recommendation from a “real human.” It’s important to work with an influencer who tells a story about your brand based on their own experiences. Consumers can see right through a cookie-cutter statement. Effective influencers will be willing to provide an authentic perspective to their audiences about your brand.
Increased Audience Reach
Whether you decide to work with micro or macro-influencers, there is a huge opportunity to tap into your ideal audience. The key here for brands is to ensure you’re finding the right influencer that fits into your niche. For instance, It probably wouldn’t make sense for an interior design influencer to promote your travel brand. Similar to native advertising, influencer marketing campaigns are effective when they are highly targeted.
A recent survey revealed that 82% of brands believe that the quality of customers from influencer marketing campaigns is better than from other forms of marketing. Ensure that you do your own research on the influencer you plan to work with, and are given access to the influencer’s audience data (including age, interests, gender and location) before agreeing to work with them.
A common setback for marketers investing in influencer marketing is the amount of money that must be invested. While this tactic is certainly not free, there are promising returns if done correctly. In 2018, the average ROI for influencer marketing campaigns was $5.20 per every dollar spent. Consumers tend to be more trusting of influencers rather than brands themselves. Incorporating influencers into your marketing strategy can have a great impact on your audience’s purchase decisions.