6 Reasons Influencer Marketing should already be in your budget
Influencer Marketing has generated an estimated $16.4bn this year, while clicks on paid display advertising have plummeted to an average of 0.47%. But what is this Influencer Marketing technique that has replaced traditional forms and has become a crucial factor in business success?
Well, an influencer is someone who has the ability to affect the purchasing decisions of others as a result of their authority, knowledge, position or relationship with their audience. Therefore, a Social Media Marketing Agency will employ Influencer Marketing strategies to reach these people who are established in a particular niche to advertise their brand.
The COVID-19 pandemic catalysed the consumption of social media with thousands of social influencers finding their footing on the likes of Instagram, YouTube and TikTok. Brands no longer talk directly to their consumers; consumers talk to each other about brands, with social influencers leading the way with their opinions and recommendations.
93% of marketers are already taking advantage of the current influencer climate. But, if you are part of this 7% who haven’t hopped on board the influencer train yet, or you just need a reminder, here are six reasons why you should be investing in Influencer Marketing:
1. Influencer Marketing Builds Brand Awareness
Investing in influencers that have your target audience in mind can cultivate brand awareness quickly and more effectively than any other digital marketing channel. Even for TikTok followers that may not purchase, creating this stronger brand recognition will bring them to return and purchase further down the line.
2. Paying Social Influencers Doesn’t Have to be Expensive
It is easily misconstrued that for your brand to be effective and to reach a wide audience you need to pour money into a marketing campaign or use a social influencer with a large following, a macro-influencer as they are so-called. However, it is in fact micro-influencers who pose the greatest impact. They can be very affordable and have more engaged audiences who are more likely to take action. You can even lower the costs further by negotiating proper affiliate marketing deals in which the influencer receives performance-based commissions. You don’t have to break the bank to take advantage.
3. Timesaving is King in Social Media Marketing
Influencer Marketing makes the process of building your brand's audience significantly shorter through collaboration with existing players in the industry. Where an advertising campaign can take weeks or months to produce, partnering with influencers means as everything is outsourced, coupled with the ability to repost or repurpose a campaign, project times are cut in half or even more.
4. ENHANCED TRUST AND CREDIBILITY
Influencers are experts in their domains and niches which is why their followers trust them and have considerable sway over them. Recommendations from influencers doesn’t make your advertising campaign feel forced like many other marketing techniques. It makes your brand ‘worthy’, meaning more people will be more open to considering your brand.
5. Guaranteed Boost in Sales and ROI
Influencers have a significant impact on a consumer's purchase decision-making journey, with marketing reports indicating that roughly 40% of consumers admit to making a purchase after seeing their favourite influencer use a product or service. As mentioned, paying influencers can be relatively inexpensive, with branding or engagements-focused influencer marketing activities yielding eight times more ROI than other campaigns.
6. Influencer Marketing is Suitable for Any Business
And lastly, no matter what your industry, there is a social influencer on every platform ready to promote your business. A good example is Coverinaclick.ie – a leading broker for car insurance in Ireland – who is an early adopter of Influencer Marketing, with a plethora of successful TikTok and Instagram campaigns in partnership with Irish influencers. The past few years rewarded brands who have embraced the digital with exceptional growth opportunities, but the next few years will really begin to punish those that lag behind.
Join the other 93%. Take advantage of Influencer Marketing. We are EverBold - a Dublin-based digital marketing agency - who specialises in Influencer Marketing and TikTok Marketing. Reach to us today for a free consultation!
