For the visionary marketer, the rise of the social media influencer creates a world of prospects. It opens up a new channel for brands to connect with shoppers more directly, more organically, and at scale. By creating branded content with social media influencers, brands can amplify their message while seducing their audience.
Nevertheless, influencer marketing is still new. Many marketers are still hesitant, at the risk of being left behind by the growing cohort of marketers which are embracing this new channel. On this article, we define the 10 explanation why you should launch an influencer marketing campaign today.
1. It is Powerful
There are few things that drive a sale more effectively than a warm word-of-mouth recommendation. A study by McKinsey found that “marketing-induced shopper-to-shopper word of mouth generates greater than twice the sales of paid advertising.” And of people who were acquired through word-of-mouth had a 37 % higher retention rate.
Influencer marketing presents a obvious opportunity for brands to leverage the power of word-of-mouth at scale through personalities that buyers already follow and admire.
2. It is Social
It is no secret – the world has shifted to social media. It is time for your business to follow suit. A new report from Salesforce found that 70 % of brands are growing their social media spend this coming year.
Social media is not simply an alternative choice to traditional media—it is turning the traditional model on its head. Historically, shoppers made buying selections based mostly on the commercials that they saw or heard. Today, it is easier to connect with other shoppers via social media and make higher buying selections by learning about their experiences with a product or service.
People expect brands to talk with them quite than at them. They not expect brands to sell to them, however to entertain and inform them. On this new paradigm, influencers are a force to be reckoned with. Brands can strategically partner with the right personalities to spark organic conversations and seduce their followers.
3. It is Attractive
When 50 influencers posted an Instagram picture of themselves wearing the same Lord & Taylor dress, on the same day, they told the Instagram fashion niche that the dress was a must have article to be in the in-crowd. The dress sold out the following weekend.
Working with influencers and tastemakers will communicate to the market that your brand might thoroughly be the next big thing. As well as, you’ll be able to repurpose the content they create to impress your existing customers.
4. Everyone Is Talking About It
From Forbes to Jay Baer, influencer marketing is reaching the lips of reporters and thought leaders across the globe.
A look at Google Trends illustrates the burgeoning growth of influencer marketing.
Google classifies the keyword as a “Breakout,” which means that the keyword is experiencing growth greater than 5000 %.
5. It is An Arbitrage
An arbitrage exists when something is selling for cheaper than it is truly worth. If you are going to buy this good, you’ll get a reduced worth since the good’s real value is greater than its market worth. The distinction between the good’s market worth and real value is your profit. In short, it is a chance to make big profits with a small effort.
Arbitrages are common in advertising. For example, when Facebook first launched its ad network, early adopters reaped record returns on investments (ROIs) because no one else was competing for the ad-space. Nevertheless, as Facebook became more popular, more marketers began bidding for ad-space, driving the costs up by greater than 335 % in 2014 and evaporating everyone’s ROI.
The arbitrage “closed.”
Influencer marketing is currently an arbitrage. There is an enormous supply of influencers, however few marketers running influencer campaigns, which means that the cost of shopping for an influencer promotion is below its real value (as measured by your ROI).
Professional tip: Snapchat and Periscope are a number of the newer influencer marketing markets. Barely any marketers are investing in it, creating an unlimited arbitrage.
6. Costs Are Rising Faster Than You Can Say…
Arbitrages don’t last long. As more people study them, more people spend money on that good, driving up the worth and shutting the arbitrage.
When NeoReach got began in the space in late 2013, the going rate for a branded Vine that got 3M loops was a mere $400. These days, a branded Vine with that type of exposure goes for $10,000 to $15,000, and costs only keep going up.
7. Shoppers Are Drained Of Paid Ads
Based on analysis firm Yankelovich, the ordinary American is exposed to 5,000 commercials a day. Whether or not that number is scientifically proven, it gets the point across: we’re exposed to A LOT of ads.
Actually, we see so many who we’re unconsciously tuning them out, a phenomenon called “banner blindness”. Infolinks, a digital advertising platform, found that only 14 % of their respondents might keep in mind the last ad they saw and determine what was being promoted. With all of the advertising interrupting them, it is no surprise that people love products like AdBlock, Netflix, and Spotify Premium that take ads out of historically ad-saturated media experiences.
8. It is Native Advertising
In distinction to traditional advertising, which interrupts the shopper expertise, native advertising places brands and products within the organic content, making a more pleasurable expertise for shoppers and a more powerful marketing solution for brands.
Based on MDG Advertising, a full-service advertising agency, 70 % of web users need to study a product through content quite than through traditional advertising. One other study by Dedicated Media found that purchase intent is 53 % higher for native ads.
9. It Helps Your search engine optimization
On top of building your brand and improving your sales numbers, influencer marketing also helps your search engine ranking. Based on The Social Media Revolution, user generated social posts account for 25 % of search outcome for the world’s top 20 brands. The more people mention your brand on social media, the more popular and relevant you’ll be on Google.
10. It is Targetable and Trackable
Selections without data are shots in the dark at best. For many years, the advertising business was restricted to shooting in the dark, having only access to traditional strategies that yielded murky details about audience reach, sales funnel influence, and branding impact.
The digital world is totally different. Each website visit, social like, and movie posted online could be stored and analyzed, yielding oceans of knowledge that turns into valuable insights about your target market and your advertising performance.