How Powerful Is Influencer Marketing For Business?

Have yet to take advantage of influencer marketing? You are missing out on numerous opportunities to increase your brand awareness, increase your engagement, and grow your following!

On the right platforms, influencer marketing can open up a lot of opportunities for you to reach and engage with a wider audience.

Not familiar with the concept of influencer marketing? Here are some of the basics and how it can help your business.

What Is Influencer Marketing?

Essentially, influencer marketing is a type of collaboration. A business collaborates with an influential person to promote something—be it a campaign, product, or service.

Generally, influencer marketing utilizes social media users with a loyal audience to drive authentic engagement and conversation around a brand’s message and products. Influencer marketing can help brands drive engagement and conversation around a specific discussion, topic, or niche area.

Who Is An Influencer?

An “influencer” is someone who has a certain following in a specific niche; someone with an audience they can actively engage with. An influencer may be anyone—from a celebrity or a blogger to an online entrepreneur.

Today, more and more consumers are turning to influencers to learn more about a specific product or service. People value their opinions and thoughts. Many people even base their decisions about a specific product/service on the influencer’s thoughts about that particular item.

How It Can Affect Your Brand?

Are you wondering how influencer marketing can impact your brand? Here, we list down some of the ways it can help your brand:

Establish Brand Trust & Doman Authority

When influencers decide to associate their personal brand with yours, they are effectively granting your brand their seal of approval. They are deeming it worthy for their followers to use and engage with. This mix of credibility by association is valuable when you want to build trust with potential customers and take a leadership position in your industry.

Generate Sales & Drive Revenue

Recruiting influencers to promote your company goes well beyond initiating brand awareness. When done right, it can generate sales and drive revenue. Remember, they are called influencers for a reason.

In fact, a study shows that consumers trust influencers as much as their friends. This study shows that approximately 40% of consumers make a purchase after seeing an influencer promoting or using a specific brand.

Meet Audiences Where They Already Are

Statistics show that we spend approximately 2 hours on social media each day (with teenagers spending upwards of 9 hours daily). With these numbers continuing to rise, influencers are only becoming more prominent. Brands that prioritize influencer marketing can meet audiences where they already are. It allows them to reach out to a wider customer base.

Improve Brand Sentiment

Did you know? A recent study shows that an influencer marketing program that lasted for more than 2 weeks resulted in an 8.73% boost in positive brand sentiment.

All businesses endeavor to win the hearts of their target audience. They all want to create a positive brand image. By working with an influencer, you can promote your product/service and improve brand sentiment. As much as possible, invest in influencers who genuinely believe in what you have to offer. This genuine and positive sentiment that influencers have towards your brand can translate to the audience and help portray your brand in a more positive light.

Engaging Your Audience through Authentic Storytelling

Many people see influencers as authentic and “real” people. In fact, statistics reveal that 30% of consumers are more likely to buy a product endorsed by a non-celebrity influencer. Consumers feel like they can relate more to these influencers and value their thoughts more than that of celebrities.

Influencers can engage their audience by being their true selves. Perhaps this is why influencers are excellent at creating authentic content about the brands they promote. This authenticity keeps audiences engaged, even when it comes to promotional content. Remember, an engaged audience is easier for brands to win over and convert to paying customers.

Higher ROI

Another major benefit of influencer marketing is the ROI (return on investment) it can yield. In fact, several studies show that influencer marketing returning as much as $6 for every $1 spent!

While this doesn’t necessarily apply to all influencer campaigns, there is a consensus among experts that influencer marketing is cost-effective. This is a significant factor, particularly if you consider the importance (and cost) of audience engagement.

The Takeaway

When done right, influencer marketing can be a powerful tool for your business. Not only can it help you establish brand authority but it can also help you engage with your audience, enhance brand sentiment, and improve return on investment.

Have you experienced any success with influencer marketing? We would love to hear your stories!