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Influencer marketing is the use of people with market authority to market various products and services. Influencer marketing has actually been around for a long time. In fact, using businesses have been using celebrities for a long time as a means to market to a target audience which is a form of influencer marketing in itself. Just about anyone could be or become an influencer.
Definition of Influencer Marketing
The definition of an influencer is simply someone that has an ‘influence’ over a specific audience or market. It has become a very hot topic in marketing in recent times due to the changes that have occurred. Gone are the days where you have to be ‘famous’ to be an influencer. Instead, you can have a relatively small following of 10,000 people on social media and be considered an influencer. In fact, businesses are actively looking for ‘micro-influencers’ due to the stronghold and trust they typically have over their audience. Below, we will be answering the question ‘what is influencer marketing’ and going over a few of the benefits of it for brands and businesses.
Where Can You Find Influencer Marketing:
This is one of the most popular platforms where ‘influencers’ can be found. Businesses and brands typically use platforms like Instagram to hire influencers because it is such a good audience to pay an influencer to market a product or service. You have likely seen a lot of different influencers marketing and advertising a brand, product, or service on Instagram through sponsored ads. Instagram is a big place to find influencer marketing because people can have hundreds of thousands or even millions of followers that they are posting in front of each and every day. Along with this, their followers typically adhere to a specific demographic and/or market. Therefore, it is a big marketing opportunity for businesses that really want to pinpoint a specific market segment or target market.
YouTube is another platform where you can find a lot of influencers on the scene. YouTube is an especially good platform to find influencers because you will find various channels with a lot of subscribers that are ‘niched’ down to the point where they are market optimised. This alone makes these influencers much more valuable because having an optimised market is only going to increase the reach and conversions that you can get as a business. YouTube is also a great platform because the influencers on it actively talk to, create content for, and engage with their audience. Therefore, they are consistently engaging with their audience which can build trust much quicker and better than simple text or picture posting. This alone makes them much more valuable as influencers because they are much more trustworthy and they likely have much greater influence over their audience than say a simple blogger.
Another big area you would find a lot of influencers is on blogging platforms or even on their own websites. If a blog has it’s own community, the blogger is considered an influencer of sorts. They typically have a direct influence over their readers. Because of this, blogs can be a great source for businesses looking to capitalise on influencer marketing. Blogs are also a great option for businesses looking to advertise with influencers because you can generally find blogs with an audience for anything. Therefore, you will be able to find a dedicated blog for your specific niche or a specific targeted audience that would be interested in what you have to offer. This can boost conversions as a whole and make for much more successful influencer marketing campaigns and sponsored posts.
Benefits Of Influencer Marketing:
1. Return On Investment
Perhaps one of the greatest benefits of influencer marketing is the ability to generate a very positive return on investment. With influencer marketing, you are going to be able to reach a large and targeted audience without having to necessarily pay the costs that you would normally have to pay for it. Because influencers effectively ‘niche’ down their audience for you, it is going to make for a much more cost-effective way to reach a specific and highly targeted audience without paying for the targeting directly in the form of targeted advertising.
2. They Have The Trust Of Their Audience
Another big benefit that can come from influencer marketing is the fact that they have an inherent trust in their audience. This alone is going to ensure that you are able to generate the trust by default with their audience. Being able to generate trust in a specific market this way can drive conversions and it can really help make your brand an authority within the marketplace as well.
3. It’s Targeted
As noted previously, you are going to be able to advertise directly to your target market without having to pay the normal cost that it would take through targeted advertisements. Instead of deploying a blanket approach, you are going to be able to benefit from targeted engagement and marketing to a specific audience with this type of marketing.
4. Connect And Engage With Your Audience Where They Spend The Most Time
Another significant benefit that can come from this style of marketing is the ability to really connect with and engage with your audience where they are actively spending the most time. A majority of audiences nowadays spend a lot of their time on social media and other relevant platforms. Because of this, you want to be directly advertising and marketing to your audience through these mediums. When you implement and integrate influencer marketing into your marketing mix, you are going to be able to effectively connect with your audience on their favourite platforms where they are spending the most time. Also, you won’t be subject to ‘ad blockers’ nor will your sponsored posts be looked at the same was as normal advertisements.
5. Greater Potential
Another benefit that you are going to be able to get from integrating and investing in influencer marketing is the ability to invest in a marketing strategy that is going to offer you much greater potential than a traditional type of Internet marketing strategy. When you are paying for AdWords or a specific PPC campaign, you are going to be paying incremental costs to drive buying traffic to your website and your business as a whole. Whereas, when you are using influencer marketing, you are usually going to be paying either a specific price for a sponsored post or an affiliate commission per sale. Either way, you are always going to have untapped potential for your campaign to go viral and to really ‘blow up.’ This is due to the fact that you are going to be leveraging an influencer’s audience which has the opportunity to get shared on various social media platforms.
Another major benefit that comes along with this type of marketing is being able to leverage trendsetters. Influencers are those that can have great influence on their audience and their respective buying decisions as a result. By investing in this type of marketing, you will be able to leverage the use of trendsetters which can help to verify your product or service as being credible.
7. It’s A Native Form Of Advertising
Rather than paying for ad placement and manufacturing ads, you are going to be advertising in a much more unique approach which is typically deemed as being native. As a result, it is not going to be something that your target market completely tunes out when they are looking at it. Many people have been conditioned to tune out manufactured forms of advertising so it is no wonder why a native form of advertising and marketing like influencer marketing has become so popular among businesses.
We can see how effective influencer marketing has become just by looking at how popular it has become among brands and businesses. More and more brands are spending an increasing amount of their marketing budgets on influencer marketing purely because it works. It is one of the most optimised forms of marketing in today’s digital and social space. This allows it to be an effective way to maximise profits for businesses. Along with being able to do this, it can truly minimise the amount of money you have to spend in traditional and unmeasurable marketing strategies that are much less effective in total. As it becomes increasingly popular, you can only expect more and more brands to begin to jump on board of the influencer marketing hype and the industry as a whole is only going to continue growing at a rapid rate.
Overall, there are so many benefits that can come from implementing this type of marketing approach in your marketing mix. Influencer marketing is only going to become increasingly popular. In fact, nowadays a lot of businesses are even looking to leverage the use of micro-influencers to reach an even more narrow audience that might have even more influence over their audience. It is simply one of the best ways to advertise and market a business, product, or service in today’s competitive marketplace because it is a native form of advertising which is always better than manufactured advertising which people generally look to tune out.