When it comes to promoting a product, mainly promotions through advertisements is what comes to your mind. Advertising can be in any form, whether it is through the means of billboards in the physical world or the virtual world where you get all kinds of options to integrate a product with. Talk about digital branding through social media platforms, banners on websites or a 3-seconder video on YouTube before the actual video et al (a few options you’ve heard of) are too expensive when it comes to reaching out to a large populace or the target audience. Plus, nowadays, with the help of different tools like Ad Blocker, people can ignore the kind of advertisements a brand spends a fortune on.
When we talk about addressing to all the above-mentioned problems, influencer marketing platform comes in handy. Influencer marketing definition can be defined as taking the services of an individual or a influencer marketing agency which has a huge follower base. Thereby, the cost incurred in marketing a product sees a drastic drop because of the audience or the potential buyer now targeted is much more precise than before. For influencer marketing examples, if an automobile company plans to promote one of their bikes, spending highly on a billboard would undoubtedly reach out to a much wider audience but not efficient. But, when it comes to influencer marketing strategy, an influencer has a social media page where only bike lovers follow. On promoting the bike, there would be highly beneficial, and the automobile company will also see more conversions because only those who are interested in knowing about it are informed instead of everyone who crosses that billboard.
Precisely, the number of people you reach, the more expensive it gets. And, the less number of people convert, the less effective the marketing strategy has been. The following three factors help you in how authentic the influencer you’re in contact with is, and also, the amount they are charging is reasonable or not:
1. Social reach: the follower base of a particular social media channel.
2. Original content: the number of posts and unique content which is posted the page daily.
3. Consumer trust: whether the people who follow it have a positive image and faith on whatsoever information published online.
As far as the benefits of influencer marketing companies are concerned, this is how businesses grow and influencer marketing benefits come into play:
1. Social media presence
The number of people who are expected to be on social media by 2020 is around 3 Billion. Imagine the number of people crawling through the web space as compared to the roads outside. Door-to-door marketing or word of mouth will be replaced by the number of shares and likes, amplifying the social media presence in short. Therefore, this is one of the most significant influence marketing benefits when it comes to modern marketing trends.
2. Increased loyalty
Just like a sales executive, even in influencer marketing, there are incentives. When a company chooses to opt for marketing a product through an influencer, there are financial incentives, contests, etcetera for people which increases participation and eventually leads to conversion. When all of this is in play, more than the incentivization, an increased loyalty is seen in both the influencer as well as the followers because of the benefits they get from performing influencer marketing.
3. Amplified reach
If you have a thousand friends on Facebook and you’ve made a post about a brand, they all will know about it. Same goes with influencer marketing; you cannot qualify for being a social media influencer unless you have a vast reach. It’s all about the number of people you have in your network (personal profile or a dedicated page), and it’s more efficient when people with a similar interest are connected. The brand not only gets a better reach but also the brand gets a higher conversion rate too because of people sharing common interests are made aware of the product through the means of social media without putting any efforts as such. The bottom line, the only thing which today’s user doesn’t forget to do is surf through their social media channels. They might not get time to go through e-commerce websites or step into a store, but you can quickly sell them what you want if channelled through social media.
4. Focused reach
Like I said at the start, an automobile can never have a better impact onf the digital marketing efforts other than influencer marketing. I’m bringing up this very point again because influencers have built their network in niche markets. Asking influential people to promote a product may be a little expensive considering the reach and demographics, but the success percentage is way better than net marketing approach would yield.
5. Tackles Ad Block
You probably must have installed Ad Block to see a minimum of those irritating advertisements, right? Well, it’s not only you, but 47% of online users have. This tells us that the most efficient way to promote a product has been adversely affected by different tools of technology. The main reason as to why influential marketing is on the rise since it is deeply integrated with your news feed. Take any social media handle; influencer marketing is done in the form of posts which appear on your timeline from the groups or people you follow. In the end, influencer advertising blends right in the social media and in no way can be stopped by tools like Ad Block.
6. High ROI
There are two possible scenarios, either you run your influencer marketing agency, or you approach them for content marketing. Talking about the first, brands contact you because you have a specific page and a loyal follower base which relies on the content you float and will be able to reach out the potential customer. The more focused demographics you can offer, the more you earn.
In the other scenario, when you as a client will approach a content marketing agency for availing the benefits of their influencer network. How would you measure the success of the marketing done? The footfall in your store or the sales figures. Considering that is the only metrics which is typically used to measure the success of any marketing effort put, influencer marketing will definitely fetch you significant returns.