With the younger generations switching to social media to gather their information, the traditional consumer buying process is changing. This new consumer behaviour is heavily influenced by fellow consumers, as opposed to the old fashioned advertising means, such as print advertisements. Now, consumers are taking advice from digital influencers who may have a huge appearance on social media. Just look at the Kardashian-Jenners. Since marketing is all about planning ahead, anticipating changes and jumping on trends before the competitors do, it is time that you gain more understanding of the prevalent concept of influencer marketing.
Influencer marketing is the name given to the process of promoting brands through the use of Influencers on social media platforms like Facebook, Twitter, Instagram and Snapchat. Influencers on social media could have thousands or even millions of followers, and their subscriber and fan groups differ depending on their expertise and industry. So what you need to do is to find the right potential target group and start your influencer marketing!
Those who have already started their partnership with authentic influencers, are conveying key information to their targeted customers more effectively and efficiently. Read on to understand how you can easily jump on board with influencer marketing.
1. Attract the right customers to your business
Targeting the right influencers could assist your businesses in reaching new audiences through platforms such as YouTube, Facebook, Instagram, personal blogs, etc. Your brand can also help to lend credibility to the right influencers, making a win-win for both parties involved.
Savvy businesses understand that while they are trying to increase their brand awareness on social media, the influencers out there to do the same. These influencers build their own brand image on social media and attract a loyal audience who listen to what they have to say.
The influencers are not only drawing the attention of their audience with the amazing content that they produce and share, they also interact and build a relationship with their followers. So, as a result of partnering with an influencer, your potential customers would be introduced to your products and services via the people that they like and admire. This is beneficial for your business as, if you select the right influencer, your message is being received by an already actively engaged audience.
The top 5 goals influencer marketing can help to achieve are:
1. Improving brand advocacy
2. Expanding brand awareness
3. Reaching new target customers
4. Increasing share of voice
5. Improving sales conversion.
With the right influencer, it can be easier for you to track down your target customers, and the only thing left for you to do would be to convey the messages to your customers.
2. The trust your potential customers put in social media influencers
Nowadays, customers are getting tired of the traditional marketing tricks such as print advertisements, email marketing or simple paid ads. Influencer marketing, however, is an avenue that could serve as an alternate, relationship-based way to reach out to new customers while building credibility with existing audiences. How? Because the audience doesn’t just subscribe for the content that the influencers share, they also have an affinity with the influencer’s personality, or even the value they stand for. This is where the trust is built.
With the continuing trend to shift to social media, customers tend to make their purchase decisions based on the advice given by the people who they adore and trust. This decision process is even more important most of the influencers are trying to show a positive altitude for life, which is encouraging and positive to see.
Your business can take advantage of the existing trust built by the influencer, which can enhance your brand’s credibility. This is something that used to be challenging to achieve, especially for small businesses. Having someone whose personality and image are aligned with the branding of your business could really exemplify what your business stands for. More importantly, the right personality and voice can accredit your business with brand awareness and integrity. An influencer marketing strategy can meet customers’ expectations and provide lasting results that will eventually increase your profitability. If the balance between the expanding audience group and the human interaction can be well-maintained, the effects that the influencers can bring to your business can be mind-blowing. It is important for brands and influencers to be authentic when sharing their story in order to create a successful brand engagement.
3. Cost-effective and Higher ROI
Traditional marketing channels such as radio and TV tend to be costly, especially for SMEs with smaller media budgets. Luckily, with the internet booming, it is now feasible for SMEs to promote their businesses using the varied opportunities and platforms available online, especially on social media.
Research also indicates that influencer marketing is one of the fastest growing online customer acquisition channels with proven results. Based on a recent study by Tomoson, businesses are generating $6.50 in revenue for each $1 spent on influencer marketing initiatives. Another report also indicates that influencer marketing earns ROI three times what traditional marketing could achieve and with 62% lower costs. There is also evidence that says 40% of people say they’ve purchased an item online after seeing it used by an influencer on Instagram, Twitter, Vine, or YouTube, and only 14% of people can recall the last time they saw an ad and identify the offer it was promoting. This is incredibly important information for any Marketing Manager or small business.
If the personality and energy of the influencers match with the value of your company, then the influencer will encourage the purchasing behaviour of your potential customers. The changes in customer behaviours can also be more easily tracked on social media, making it more straight forward for brands to measure ROI. So, the effectiveness of your brand’s marketing efforts can be improved by using social media and social influencers, as opposed to traditional advertising.
Having read this article, you are probably aware of the power of influencer marketing and why you should think about it now for your business. If you want to gain further marketing advice, don’t hesitate to talk to our marketing experts at Sierra Marketing!
Cassie is a Junior Marketing Assistant at Sierra Marketing. Cassie is passionate about conducting market research and delivering excellent customer service. Joining the Sierra team has enabled Cassie to work on varied aspects of marketing including social media, market research, content marketing and digital marketing.