Why my business sales figures aren’t going up? Why I’m not getting enough traction with the marketing campaigns? If such questions keep you up at night, maybe it’s time to reconsider your marketing strategies. In this tech-driven era where any information is just a click away, the old school marketing strategies with over the top ads are hardly going to impress the audience. Today’s smart consumers evaluate the authenticity of the product and look for a reliable source before making any purchase. Perhaps, this is the reason why businesses are moving towards a new marketing strategy called Influencer marketing. Wondering what Influencer marketing is all about? Let’s get started with the very basics.
What is Influencer Marketing?
Influencer marketing is nothing but a smart marketing strategy or a word-of-mouth style approach used by businesses to spread the word about their products or services with the help of influencers. The influencer can be a popular celebrity, blogger, sportsperson or ordinary people with a huge number of followers.
If you brag about your offerings, people will think that it’s your job to speak positively about it. Even if you are offering the best thing in the market, it might not impact a larger audience. Meanwhile, when customers see someone else they follow is speaking about your product, they get convinced. In fact, according to The Nielsen Analytics Company survey, 92% of consumers believe in such recommendations more than other types of advertising. So, having influencers can be highly beneficial for your business. Not convinced? Need more reassurance that investing in influencer marketing is worth it? Let’s have a look at few research-backed proofs.
Influencer Marketing Statistics
Here is what statistic says about influencer marketing strategy.
- According to Tomoson, businesses are generating $6.50 for every $1 used up on influencer marketing.
- The Influencer Marketing Industry is likely to hit $10 billion by 2020.
- 51% of marketers believe that they are acquiring better customers with the help of influencer marketing.
- 50% of consumers rely on influencer recommendations to decide which products to purchase.
- Around 40% of Twitter users said that a Tweet from an influencer convinces them to make a purchase.
Are you are still on the fence? Do you think that these statistics are not enough for you to invest in influencer marketing? Then, let’s dig deep to find out some key benefits of influencer marketing.
Why Opt for Influencer Marketing?
Here are some more compelling reasons that may inspire you to plunge into influencer marketing right away.
Strong ROI
As businesses make $6.50 in revenue for each $1 spent on influencer marketing, it can be quite beneficial for your bottom line. From large corporations to startups, businesses of all sizes are getting positive returns from influencer marketing campaigns. And the ability of this marketing strategy to generate enormous ROI has turned it into a $1 billion industry on Instagram alone.
Better Trust and Credibility
The strategy of tooting own horns no longer works for business marketing as customers today prefer to know what others have to say about your brand. Influencers establish a high level of trust with their followers and partnering with them will help you draw the attention of their audiences to your product or services. When an influencer advocate in favor of your brand, it gives you more credibility. It helps you reach the large audience of the influencer and earn the loyalty and trust of them in the long run.
Greater Reach
There are influencers who boast audience counts in the millions online. So, approaching such influencers can help your business to build highly effective campaigns and reach millions of consumers easily. And as the connections between your business and the influencer will grow, your network will also expand. That means greater reach and better recognition.
Higher SEO Ranking
When trusted and popular influencers mention you on their blogs or videos, you generate high-quality backlinks to your website. And as we know Google loves high-quality links, your Google search ranking will go up and you will see huge traffic on your website.
Highly Targeted Traffic
With the colossal amount of content floating around online, it is hard for your business to reach the right ears. Having influencers helps you cut through this noise and reach your target audience. For instance, if you are selling fitness equipment, then you would want to target the audience who are into sports and fitness. So, if you partner with a fitness blogger, the chances of your business reaching a focused and relevant audience become very high. The people who are following the fitness influencer are more likely to be fitness freak or sports enthusiasts and this makes your job easy. Through the influencer, your message will reach the target audience and the likelihood of conversions will also become way higher than that of a generic audience.
Quicker Customer Acquisition
Since the audience, you reach with influencer marketing is your target audience, they convert quicker. As they are already interested in that specific niche, it won’t take long for you to influence them to make a purchase. Indeed, according to a study by Influencer Marketing Hub, influencer marketing is the fastest when it comes to acquiring customers online and this is clearly one of the biggest benefits of influencer marketing.
Wrapping Up
Maybe your competitors are already investing in influencer marketing and reaping the benefits. So, don’t you think this is a good reason that you should get into the game, too? No matter what business or industry you operate in, with a celebrity endorsement or a shout out from a famed influencer, your sales are going to roar. Whether you want to increase revenue, drive conversion or extend your reach, leveraging influencers can help you reach your marketing goals in a more robust and impactful way. Now that you are well aware of the importance of influencer marketing, go ahead and give it a shot. Happy Marketing!