5 Reasons Why Brands Need Influencer Marketing to Stay Ahead in the Game
The key criteria to measure any brand’s success are its long term reach, brand awareness, conversions, credibility, and last but not the least, return on investment (ROI). Influencer marketing ticks on each of these pointers and like how!
What is Influencer Marketing?
Influencer marketing is the modern take on celebrity endorsements.
Influencers are people who have the attention of a focussed audience. They can sway their audience to buy the products and services they endorse. The people trust and listen to what they speak, blog, and tweet or post on other social media platforms.
An influencer can be a trusted voice as a food blogger, a famous fashionista on Instagram or an admired industry professional on LinkedIn.
They are all popular and admired people, who have a large following of a focussed audience.
So how does this help brands?
Brands benefit immensely by using influencer marketing to make meaningful connections with their consumers.
Engaging with the right influencers can have multiple positive effects on the brand’s awareness, image and business.
How Can Influencer Marketing Help Grow A Brand?
Builds on Brand’s Credibility
There is too much noise in the world around us. We are bombarded with largely meaningless ads, intrusive and annoying pop-ups, and unbelievable endorsements by celebrities, to name a few.
Amidst all this clutter, the consumers need a real connection, something that is tangible and believable.
People are looking for meaningful engagements and endorsement. They are turning to social media to look for reviews, opinions, experiences - of people they trust, admire and can relate to.
Working with the right influencer can help the brand build its credibility because of the genuine connections they form with the people.
A celebrity brings in appeal, aspiration and viewership, but not necessarily trust, as the audience cannot relate to them. They are more likely to believe a friend or a peer sharing his/her opinion of a brand, rather than the brand itself.
Facilitates Focussed Customer Reach
Moving away from the ‘largish’ reach of other mediums of marketing, influencer marketing help the brands reach out to their focussed target audience.
Influencers are experts and popular in different fields. For instance, there are food bloggers, travel vloggers, fashion critics, beauty experts etc.
Brands can identify the ‘right’ influencer - the one who is aligned with their campaign objectives and has the required audience reach and following.
Connecting with the right audience is hugely beneficial in making the campaign successful and productive.
The most significant marker of the success of a campaign is sales growth.
Influencer marketing hugely helps in converting leads to sales.
This is the numero uno reason why brands work with influencers to promote their products.
The 'right' influencer helps the brand reach the correct target audience and has the power to sway the choice, preferences and opinions on the followers.
This goes a long way in promoting the brand and grows the business.
Improves ROI (Rate of Return)
ROI evaluates how effective and profitable has the brand’s investment in a campaign been. It checks whether or not the cost of the campaign has been recovered, and what was the profit, if any, made on the investment.
Influencer marketing can generate as much as 11 times more ROI than the traditional channels of marketing.
It is vital for a brand to align its campaign goals with what can be measured realistically.
Monitoring the web traffic and social media reach also helps the brand evaluate the effectiveness and performance of a particular influencer in driving a campaign.
Increases Brand’s Social Following
Influencers create awareness and interest in the brand, which becomes great image builders for the business, financials aside.
Well-articulated blog posts and social media postings, all drive traffic to the brand’s website, online store and social media marketing channels.
The more people your brand engages with, the more potential customers you can target to generate higher conversions.
This is crucial as it reflects that the consumer is being engaged. Which can ultimately convert the leads into sales and also help the brand in building the desired image over time.
Influencer marketing is indeed the “golden child” of marketing as it helps the brands expand their reach, awareness and image while improving their sales and the bottom-line.