Influencer Marketing

Influencer Marketing

Influencer marketing is a type of word-of-mouth marketing that focuses on using key leaders to communicate your brand message to a larger market. Influencers can be celebrities, but more often they are Instagram or YouTube personalities with a huge following who can help spread the word about your business or product through their social channels.

Because influencer marketing is generally more legit than corporate advertising:

·         63% of customers trust influencer's opinions of products much more than what brands say about themselves

·         58% of people have purchased a new product in the past six months because of an influencer’s recommendation

Who are Influencers?

Have you ever come across someone promoting a brand or a product on their social media platforms or YouTube and getting paid for the same? Yes, this is the basic example of influencer marketing and the individual that is doing the same is the influencer.

An influencer can be defined as someone who has:

·         The power to affect the purchasing decisions of others because of their authority, knowledge, position, or positive relationship with their audience.

·         A following in a distinct niche, with whom they actively engage. The size of the following depends on the size of their topic of the niche.

Now don't misunderstand brand influencers to be brand ambassadors they are altogether different people doing somewhat similar jobs.

Brand Influencer vs. Brand Ambassador

A brand influencer refers to someone who has a following within a specific group of people that they engage with regularly. Because of this, they have the power to impact their purchase decisions. The significant kinds of brand influencers incorporate micro-influencer, celebrity influencer, blog influencer, social media influencer, and key opinion leader.

A brand ambassador is hired by a business to work under contract to help them achieve specific goals: increase brand awareness and boost conversions and sales. A brand ambassador’s contract is typically long-term (several months or even years). During that time, they represent the brand and the lifestyle associated with it and have deep knowledge about the business’s products or services. They don’t necessarily need to be an influencer before becoming an ambassador.

More about Influencer Marketing?

Now let's talk about the stats of Influencer Marketing that prove influencer marketing is a worthwhile time and monetary investment as well as show you which metrics are impacted by influencer marketing?

·         80% of the marketers say influencer marketing is effective, and 89% say it works just as well than other marketing channels.

·         71% of the marketers say the quality of customers and traffic from influencer marketing is much better than other sources.

·         49% of the consumers today depend on influencer recommendations for their purchase decisions. 60% say they've been influenced by an influencer’s recommendation when shopping in-store.

·         Google searches for "Influencer Marketing" has grown by 1500% in the last three years.

·         Influencer marketing strategies focused on branding or engagements generate an 8x return on investments.

·         The top three goals of influencers marketing for businesses include increasing brand awareness (85%), reaching new audiences (71%), and generating sales and conversions (64%).

Posted in: Influencer Marketing