A lot has unfolded in recent years for brands and businesses. Marketers all across the globe have been struggling to find the answers to the new wave of challenges that have panned along their way. Marketing for the digital spaces has caught the significant attention of brands.
Companies are not only in need of making effective use of the digital space for remaining connected with their audience but also to remain alive and relevant. In this context, the opportunity not won is surely lost.
Influencer marketing is one of the crucial areas where brands are focusing their energies. In the wake of this, we bring the following reading to help you better understand influencer marketing.
What is Influencer Marketing?
Influencer marketing has been an emerging phenomenon on the horizon that has become a lot popular lately because of social media. The booming presence of active social media users in the internet space provided marketers the opportunity to engage & personalize with their audience.
Influencer marketing provides the marketers with the scope of reaching out to their audience via influencers in the social media domain. The influencer then brings out a word for the product or brand they are working with. This has a lot of comparative advantages over some of the traditional ways of marketing, like advertisements.
Importance of Influencer Marketing
The innumerable benefits of influencer marketing are what make it so popular among businesses and brands! Here are some such reasons why influencer marketing is important for your business:-
1. Influencer marketing helps in bringing a sense of personal touch by leveraging the connection between the influencer and the audience.
2. Influencer marketing helps bring the essence of the product better than any other form of marketing. It is a common practice for influencers to talk about the product and demonstrate its use to the users.
3. Influencer marketing is a more credible and authentic way of endorsing any brand or product. Influencers play an important role in shaping the perception and attitudes of the audience. They lead the audience to believe in the brand's value proposition instantly. This is a typical process in the traditional forms of marketing, where it takes time for the audience to interact with the product.
4. Influencer marketing provides marketers the scope to cater to their niche-specific target audience. For instance, a sports brand gets an international football player on board to endorse its brand. This way, the brand can widen its appeal to the community of football lovers spread across the borders. So the brand has the opportunity to closely work on the interests of their targets - the football lovers!
5. The other most important aspect of influencer marketing is that it helps brands communicate with their audience in a more interactive and creative manner. With influencer marketing, the brands thrive on the ability of the influencer to interact with their audience. This helps the brands to position themselves in more creative scenarios which can not be handcrafted through typical ad films. This allows the brands to engage in a more refreshing affair rather than exhausting the audience's minds.
Scope of Influencer Marketing
Influencer marketing is all about positioning the brands in a more personalized manner. In the past, brands used to thrive on the flimsy trends of portraying brands extravagantly. This was done using platforms like TV ads, radio jingles, and others.
The problem with this was that success of these exercises revolved around the superfluous expenditure of time and resources. Hence for the part of 'influence,' brands relied on their stunt of posing themselves as supernatural. This made it nearly impossible for consumers to invest themselves personally.
All of this has dramatically changed with the sudden rise of the internet and social media users. Thus, the scope of influencer marketing has rapidly grown for businesses in the present day age.
It has now become very convenient for businesses from varying industries and backgrounds to connect with their audience just by a click. Influencer marketing provides the business with simple, smooth, and interactive solutions to position themselves in the market.
How does Influencer Marketing help your business?
1. Helps in increasing brand awareness
Influencer marketing helps brands increase their awareness in the eyes of the audience. Influencers provide the brand with the platform for the new age mediums like Instagram and Tumblr. This helps the brands to increase their awareness, with influencers spreading the word for the brand.
2. Influencer marketing is cost-effective
One of the most significant advantages of influencer marketing is that it is very handy on your cost expenditures. Influencer marketing provides an important opportunity for brands to replace ambassadors with influencers. Influencer marketing is hence one of the most feasible and viable options for emerging businesses and brands.
Especially for emerging brands, influencer marketing is an important platform to level the playing fields against the sharks who have dominated the advertisement space across decades.
3. Influencer marketing helps you improve your conversion rate
The factor of personalization is key to converting the prospect into a buyer. The impact of influencer marketing is immediate and direct. Thus, Influencer marketing helps in improving the conversion rate by converting the prospect into a buyer instantly.
What are the different methods of influencer marketing?
Sponsored Social Media Posts
Social Media Takeovers are one of the most prominent methods of influencer marketing. In this type, the social media influencers post their stories, images, or videos with the product making the users aware of the brand.
The affiliate marketing method is best suited for the needs of e-commerce platforms. The major advantage of this type of marketing technique is that it requires very low levels of cost.
This type of marketing method influences the buying decision of the buyer by redirecting the brand with the other brand which is required to be marketed. An example of this type of influencer marketing can be the lifestyle brand, which offers exclusive options to the consumers if they also buy the clothing product of the associated brand.
Gifts, Reviews, and Unboxing
This type of influencer marketing method revolves around the idea of becoming part of the virtual journey of the influencer. Influencers may provide an account of the personal experience or could make an unboxing video of the product in this form of marketing. This way, the brand tries to establish its goodwill in the eyes of the audience and offer them reasons to become a part of the consumer journey.
Guests Posts and Blogs
Guest Blogging is one of the other innovative ways of channeling the interests of the audience. With guest blogging, the brands make the attempt of multiplying their reach by getting redirects and references from the host. This is one of the simplest and authentic ways to promote your product, especially when you want to multiply your reach within any particular niche.