Are you worried about the deteriorating sales of your business? Why is your marketing strategy not getting enough attention? Then you should change your marketing strategy. The world has shifted online, and before purchasing any product or service, every customer is checking the authenticity and reliability. The conventional marketing strategies are no longer valuable and are not successful in bringing customers. That is why you have to design your marketing strategy according to the demand of the new world that is Influencer Marketing.
Before the rise of social media, only the person who has celebrity status was considered as an influencer, but now the whole definition has changed. Indeed celebrities are still considered influencers, but other than celebrities, the person who has a great social media presence and has a huge social media following is also considered as an influencer. To understand why influencer marketing is important for your business, first, let’s understand what influencer marketing is.
Influencer marketing is a type of marketing in which a social media influencer who has a huge following on social media with the potential to influence followers shares the content of a certain brand on their social media handle. The main purpose of collaboration with social media influencers is to gain customers for your product or service. As is recommended by the social media influencer, the followers tend to trust easily and this helps to expand your business.
We have seen what influencer marketing is, and now in the below section of the blog, we are going to discuss the benefits of Influencer Marketing to your business and how it will help you to scale up your business.
Importance of Influencer Marketing For Your Brand
With rising social media, if your brand is losing its position rather than gaining, then influencer marketing is the best option to bring it on track. A 2015 study done by Bughin for McKinsey states that influencers have high control over the followers or consumers whether to buy a particular product or not.
Social media platforms are growing rapidly across all age groups, and these are the platforms most influencers connect with their consumers. That is why brands should make the marketing strategy in alignment with social media platforms and by doing research and study about the users.
Since most of the young generation spends most of their time on social media, that is why conventional advertising strategies are losing their ground. Modern-day consumers don’t associate themselves with ads and constantly crave for which is engaging. This highlights the importance of your brand story and should have the potential to move the consumers towards your brand. The influencer knows their consumers and how to engage them for the long term. You can take the benefit of this to spread your brand awareness.
Benefits Of Influencer Marketing
1. Helps to Raise Brand Awareness
As influencers have huge followers, they can easily increase awareness of your brand among the followers by a single post on social media. If an influencer has genuine followers on social media and high engagement with followers, then the brand can gain traction of followers and can be your potential customers.
Recently a study conducted by Influencer Marketing Hub says that 37% of respondents take the help of influencer marketing to raise brand awareness. With the help of influencers, geographically, you can increase your brand awareness. People who are in the remotest area following influencers on social media will know about your product and can turn into your customer.
According to one survey, 49% of people try a brand that is recommended by the influencer. This will help you raise your brand awareness more than the conventional marketing techniques.
2. Direct Reach To Target Audience
In every marketing strategy reaching the target audience is the most important thing, and through influencer marketing, you can do this task easily. This is the best option to reach directly to your target audience, but you just have to do proper research. Before choosing any influencer for your brand, make sure that the influencer can align with your brand and has real followers that can be your customers.
Choose that influencer for your brand whose followers are your target audience so that you can easily engage them with your product and can turn them into your customer, which is the ultimate aim of influencer marketing.
3. Helps to Build Trust
Through influencer marketing, you can build trust easily among the people because consumers trust the influencer, and recommendations from an influencer make your brand trustworthy and credible. This is the power of influencer marketing, the trust of followers in the opinion of the influencer. You have to choose an influencer for your brand who has genuine followers on social media. When an influencer shares a brand, it would be seen as a genuine testimonial, and your brand can get credibility and reputation among the followers.
4. Increases Engagement
Getting engagement on the social media page of your brand is sometimes so hard, especially if you are a newbie in the market. But by working with influencers, you can create some good and engaging content on social media and can get more engagement on the social media handle of your brand. When influencers share any content on social media with their handle, their followers will see it and can engage, and if they like it, the chances are higher that they will also engage with your page directly.
According to one survey, micro-influencers have a higher engagement rate than macro-influencers. The influencers with less than 1k followers have an engagement rate of 7.2% on Instagram, and influencers with followers of 1,00,000 have an engagement rate of 1.1% on Instagram. This data will help you to choose the right influencer for your brand that will bring a higher engagement percentage to your brand.
5. Higher Conversion Rate
The ultimate aim of marketing is to get customers for the brand, but it is hard if you are a new brand in the market. People will not trust your brand easily, but with the help of influencers, it is an easy task as an influencer has already gained the trust of followers. If an influencer promotes any product or service, then the chances are high that people will give preference to it. So with the help of an influencer, you can easily persuade the customer to try your product. The higher the number of followers, the higher the rate of conversion.
Above we have mentioned the benefits you will get by using influencer marketing for your business. According to The Robo Economy survey, 45% of people read reviews before purchasing anything, and 82% of smartphone users search the product details they will go to buy in-store. According to a survey conducted by the consumer intelligence platform Civicscience, 22% of respondents said that they purchase a product because it was recommended by the influencer. Influencer marketing has a huge scope and can bring more customers to your business. Furthermore, 92% of business owners had a favourable opinion about influencer marketing being an effective marketing strategy.
If you are a small business owner, then influencer marketing is the best option for you instead of changing strategy after strategy in the hope that one will succeed. Influencer marketing is an affordable and effective marketing strategy for high growth. So don’t wait and start influencer marketing for your business because maybe your competitors are doing the same and gaining more traction. Find the right influencer for your business who can align with your product and has a genuine following that can be your potential customers.
The influencer can give a new point of view to your product and can create distinctive and engaging content that can spread easily and will increase your brand awareness. In this blog, we have discussed the needs and benefits of influencer marketing for your business and how you can establish it as a brand. With a low budget, you can start influencer marketing for your brand and will be effective and more successful than other marketing tactics.