Influencer marketing is making some serious waves in the digital world. Why? Because influencers have this unique way of connecting with people, which is why businesses are noticing it more and more.
We’re here to get into the real meat and potatoes of why influencer marketing is such a compelling option for businesses (big and small) to generate more leads and conversions.
And don’t worry; we’re not going to go into lots of technical details, just the essentials, something that could actually help you out instead of the old read-and-forget!
There are plenty of things to see in this article, even if you’ve been in the industry for a while, and of course, if you’re completely new, there’s a whole new world to learn about!
In this article:
- What is Influencer Marketing?
- Influencer Marketing vs. Traditional Marketing
- How Do You Make the Most Out of Influencer Marketing?
- Challenges of Influencer Marketing
- The Future of Influencer Marketing
- Is Influencer Marketing Worth It?
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What is Influencer Marketing?
In influencer marketing, companies use popular personalities or "influencers" to tell their followers about their products and services.
An influencer is someone who has a large following on social media. It can be a celebrity or an ordinary person with knowledge of a particular topic.
Influencers are important in marketing because they allow you to reach and listen to many people who trust you.
When an influencer talks about a product or service, it feels more like a friend's recommendation rather than an advertisement, so followers are more likely to pay attention. Different influencers help businesses reach different types of people.
Some influencers have millions of followers worldwide, while others have a small number of very dedicated followers. Both are useful for different kinds of marketing strategies.
A big part of any influencer marketing strategy is, naturally, influencer outreach. It's basically all about finding influencers and how to approach them with offers like collaborations and paid sponsorships.
Companies often need to pay more attention to this crucial step and just send the email without researching, leaving you wondering why your campaign didn't perform well.
So if you plan to work with an influencer, ensure you understand what you are offering, who you are offering it to, and why.
If you know the answers to all these questions (by researching the people you're reaching), the influencer's outreach to her campaign is well on its way.
Influencer Marketing vs. Traditional Marketing
So is influencer marketing better than traditional marketing? It's not really a yes or no question.
For small businesses and startups, collaborating with influencers can be a cost-effective way to reach an established audience.
It is often more effective and cheaper than launching an extensive advertising campaign. Especially since, according to Nielsen’s report, 92% of consumers trust influencer marketing over traditional advertising.
But traditional marketing still holds its value, especially for big brands. TV ads, billboards, and even Google Ads will still work.
Ultimately it comes down to what works best for your business. Perhaps it could be influencer marketing, traditional marketing, or a combination of both.
Experiment to see what works and adjust from there. Here's how to find the best fit for your business.
How does this impact your leads?
Influencers are powerful lead-generation tools. Thanks to the broad reach and trust we have built with our audience, we have the power to introduce our brands and products to a wide range of potential customers.
When an influencer shares or recommends a product, it is essentially a personal endorsement to their followers.
These followers are usually intensely interested in the influencer's niche, so this recommendation will get them interested in your product and effectively convert it into a lead.
This ability to generate quality leads (potential customers with a genuine interest in your brand) is one of the reasons influencer marketing has become such an effective strategy.
What about conversions?
Influencers not only help businesses find potential customers, but they also help convert those potential customers into actual buyers. It is what the marketing world calls a “conversion.”
When influencers talk about products and services, it's more like a friend's recommendation than an advertisement. Your followers will trust your opinion and be more willing to try your product or service.
Think of it like this:
Imagine your favorite influencer posting about a great new book you just read. You trust their taste and decide to get a copy for yourself. That is a conversion.
You went from prospect to customer solely based on the word of the influence that it was a good book.
Influencer marketing is great at driving conversions because it feels authentic. It's not just a sales pitch; it's a personal connection. That's why it's such an essential tool in digital marketing.
How Do You Make the Most Out of Influencer Marketing?
Alright, so you're sold on influencer marketing. But how do you make it work for you? Here are some practical tips.
Find the right influencer
It isn't just about finding someone with a ton of followers. You need someone who fits your brand and can genuinely connect with the customers you're looking for.
Building a great partnership with your influencer is key
It isn't just a business transaction; it's a collaboration. You should work together to create content that the influencer's audience will love.
Make sure you keep track of your strategy
You should always keep tabs on whether your strategy is working; you should always be ready to change something up. Maybe the Influencer you picked isn’t the right one, or perhaps they aren’t steered in the right direction.
Challenges of Influencer Marketing
Influencer marketing works wonders for brands but only sometimes goes smoothly. As with anything else, there are potential issues to keep in mind.
One of the biggest challenges is choosing the right influencers. It's not just the number of followers. You need someone who sympathizes with your brand's values and who can create a genuine connection with your audience.
You may not get the expected results if you make the wrong choice. It's also about maintaining credibility. Audiences are savvy, so they recognize that the recommendations are not genuine.
If influencers aren't serious or a promotion feels like an advertisement, it can fail and even damage your brand's reputation.
Speaking of reputation, when working with influencers, remember to associate your brand with the influencer's brand.
There is a risk of splashing when entering hot water. It's essential to consider the influencer's track record and the controversies they may be involved in.
But don't let these challenges discourage you. With careful planning and strategic thinking, you can overcome these pitfalls, and influencers reap the benefits of their marketing.
Ultimately, it's about adapting and finding what works best for your brand.
The Future of Influencer Marketing
Looking ahead, it's clear that influencer marketing needs fixing. Instead, it will become even more critical in digital marketing. But what is it like?
First and foremost, the most significant prediction is that micro-influencers will continue to proliferate. These influencers have a small but very dedicated fan base.
Because they have a devoted audience, they can often have a greater impact than influencers with millions of followers. So, if you're just starting or running a small business, take notice of these guys.
It can also make the influencer more transparent and credible in his marketing. Audiences are intelligent and can tell when it's a genuine endorsement or just an ad.
And, of course, the influencer marketing space will continue to grow. Just look at the Influencer Marketing Hub report if you’re unsure!
As businesses, midsize businesses, and even start-ups leverage more and more influencers in their advertising campaigns and promotions, influencer marketing will become a regular part of every marketing campaign, perhaps even replacing traditional marketing techniques. I expect it to exceed.
Conclusion: Is Influencer Marketing Worth It?
We've come to the end of the road (i.e., the article), but everyone is probably still asking, “Is influencer marketing worth considering?”
I expected you to make your own decisions after reading this article. But if you ask for my opinion, it's worth it. And according to Statista, it’s a growing billion-dollar industry!
You can only get influencer-like reach by working with influencers. The way they engage with their audience goes far beyond traditional marketing techniques. Well, it's really amazing!
In summary, it's worth it, especially if your business is growing.