An influencer marketing strategy has rapidly become the cornerstone of many businesses’ growth plan. The power of influencer marketing is rapidly growing as brands take note of influencer posts’ ability to impact the purchasing decisions of the people that follow them. However, not all businesses have an influencer program. Some companies are not convinced of the value or are not yet interested in marketing through social media platforms.
There are a lot of reasons for businesses to launch their influencer marketing strategy. There are numerous benefits of influencer marketing that have led to it become a staple of a growth plan for businesses big and small. Whether you’re building an influencer marketing campaign around micro-influencers or macro-influencers will be dependent on your business and the social media users you are targeting. But what is essential is that you have a significant presence across social media channels that uses the platform of social media influencers.
Let’s explore the case for influencer marketing by diving into some statistics that reveal broader truths about the overall industry.
61% of Consumers Trust Influencer Recommendations, 38% Trust Branded Social Media Content- Shopify
Finding the proper marketing channels to reach your desired consumers isn’t easy. Many brands opt for utilizing their own social media channels or creating relevant blog posts. However, the vast majority of consumers don’t trust branded content from businesses. If you want to appeal to consumers authentically, utilizing the reach of the people that they follow is a trusted method.
Influencers can also reach a wider audience, meaning they have a larger platform and more trust. This is undeniably useful to brands. A recommendation from an influencer in an Instagram Post, Instagram Story, or TikTok is extremely valuable to businesses. It plays on established consumer behavior, which is their trust for the social media celebrities they follow.
Gen Z is most likely to be Influenced by Social Media Influencers of Any Generation- Marketing Charts.
Reaching the desired target audience isn’t easy. If your business is oriented towards a younger demographic, this group is highly interested in influencer content. Demographic trends show Millennials and Gen Z are the two most invested in influencers, so a social media presence is a must if this is your target audience.
A good influencer marketer will understand the power that influencers have to reach a niche audience. Influencers are a great way to appeal to different demographics and different interests. There are influencers in just about every niche out there, so utilizing them to target desired customers is a great way to narrow the scope of your outreach. Successful influencer marketing campaigns are typically targeted towards specific areas, and for brands trying to reach Gen Z and Millennials, this is the right choice for business growth.
60% of Advertisers Said They Believe Influencer Marketing has a Higher ROI than Traditional Forms of Advertising- Statista
Balancing a budget is critical to the success of marketers. The best possible strategy brings in high-quality, high-volume leads at an affordable cost. That is why the appeal of influencer marketing is so high. Your influencer marketing budget is dependent on you, but there are a variety of ways to bring in positive results at a low cost. That is why such a significant number of advertisers say influencer marketing’s ROI is higher than traditional forms of advertising.
Your influencer campaign spend will depend on the types of influencers you base it around. It might be a costly outreach if you choose to have a campaign centered around mega-influencers or celebrity influencers like Kim Kardashian and Kylie Jenner. However, if you prioritize nano-influencers or micro-influencers, your spending can be minimalized. However, each type of influencer has unique advantages; it depends on your business goals and restrictions.
78% of Advertisers Surveyed Said Instagram Posts are an Effective Marketing Channel While 73% Said the Same of Instagram Stories- Big Commerce
Instagram is currently the center of the influencer marketing world, with TikTok, YouTube, and Twitch also growing mediums. A vast majority of marketers have belief in the viability of Instagram as a marketing channel, regardless of follower count. One of the reasons Instagram is so effective is the forms of the social content posted there. A typical influencer post on this platform can be easily shaped to fit a business’ ideal advertising goals.
Instagram also has tools for tracking the effectiveness of campaigns and the success of influencers’ user-generated content. It is easy to track engagement rate and other key metrics that show whether influencers are providing ROI, shaping the next steps for businesses.
Partnering with an influencer marketing agency capable of helping create customizable data-driven, targeted, and proven successful campaigns is the key to launching an impactful strategy straight away. Influence Hunter is this ideal partner. With extensive industry experience, Influence Hunter can build lasting brand-influencer relationships that lead to long-term growth for businesses. Get in touch with us today to learn more about what we can do for you.