Can influencer marketing be justified for any product or service?
What is your first instinct when you have to purchase something? We all tend to ask the opinions of the people around and their feedback influences our decision.
Social media has changed the way we look at certain things and the way we make choices about products or services. Social media influencers leverage this change and influence their followers to develop an affinity towards specific brands. They are the people who have built a prominence, allure and knowledge in a given category. They remain highly active on various social media platforms and have become a key tool of marketing today.
In today’s time, we can see brands like Nykaa use influencer marketing to its full potential. They chose the unconventional route and collaborated with the comedian Rohan Joshi to launch the #MakeUpChallenge. You might be wondering how a comedian can promote makeup products? But that was what caught everyone’s attention.
Daniel Wellington is a brand that doesn’t use traditional forms of marketing, they only use influencer marketing and this has proven to be a boon for them. Their revenue shot up to $220 million from $15000 in just a span of 4 years! They focus on well-established influencers and celebrities and generate a promo code for the customers with that celebrity’s name.
That tells us that if you are a fast-moving consumer goods brand, then the influencer marketing route is probably the right route for you. However, for a few traditional businesses, we are not sure if this is the way to go. For example, if you are an insurance or metal/steel company, influencer marketing isn’t the best alternative for you. An individual would not buy an insurance policy just because it is recommended by his/her favourite influencer as there are tonnes of other factors to be looked at.
Here are a few factors that will help you determine whether Influencer Marketing is the right approach for your brand.
1. It helps to target the right target audience
An essential part of influencer marketing is selecting the correct influencer in line with your goals and objectives. Although influencer marketing starts from a small community of the influencer itself, it helps to bring about a large change over time. It builds awareness and curiosity in the influencer’s community.
2. It helps build trust with your customers
Influencers aren’t just people who post about different brands; they create a relationship with their followers over a period of time. They let the followers enter their lives by highlighting their lifestyle online every-day and giving their audience a close insight. Customers in return trust their choices and the brands they recommend.
3. It results in an improved ROI
It is statistically proven that influencer marketing can generate up to 11 times more revenue as compared to traditional forms of advertising! Though It might be difficult to evaluate the ROI generated solely through influencer marketing, there are various indicators being developed to measure this return. This can incorporate assessing your web traffic or social media reach. Working with this backend information, brands can distinguish an Influencers attribution dependent on how buyers react to their content and assess the performance of the Influencers campaign on this information.
4. It boosts SEO
In order to improve your brand visibility and backlinks, it is important for your backlinks to be of great quality. Working with influencers is an extraordinary opportunity to produce better regular backlinks for your site, further improving your site positioning. There are various ways this can occur. When you work with powerful bloggers or influencers, almost certainly, they have their very own web page or they approach different high-authority sites. At this point, when these influencers make content and create a connection to your website through a hyperlink, this produces an excellent backlink for your site.
5. It helps with your content generation process
Coming up with new and engaging content on a regular basis isn’t an easy task to do. By adopting influencer marketing, this becomes easier. Your influencer and you can come together to co-create content. An influencer is a pro at creating aesthetic, engaging and quality filled content.
6. It makes your brand stand out
When a brand decides to work with celebrities for endorsements they are reaching a more generic audience. A product recommended by celebrities isn’t given equal credit as to one advised by an influencer. This is because influencers are seen as more personal and are believed to be more focused. Also, influencers have usually had expertise in the products they promote which can prove invaluable for your marketing campaign. They prefer creative strategies for spreading the message instead of coming across as advertisers or salespeople.
Influencer marketing is reaching its peak right now and there is no better time to dive into this opportunity. “Customer is king” and there is nothing as vital as developing a relationship with them. If you’re looking to find the right influencers for your brand, in order to scale your reach and generate actual customers, our team at All Stars is well equipped to get you started. Our expert executives will help you leverage the power of Influencer marketing to bridge the gap between your brand and your target audience and add a human touch to your marketing exercise.