The Indomitable Power Of Influencer Marketing: A Rising Star Of The Marketing Domain
Learn Why 75% Of All Marketers Consider Influencer Marketing As The Future
Influencer marketing—it is a raging trend in the world of marketing today. Businesses are reaping massive profits and reinforcing their brand image through the auspices of influencer marketing. The trend is catching on fast and all businesses, large & small, are adopting influencer marketing strategies front, right and center.
A recent report by popular influencer marketing firm Takumi shows that more than three-quarters of marketers employed influencer-marketing programs and dedicated substantial resources to it. As evident from such facts, companies across different sectors are choosing the digital and enhanced version of word-of-mouth marketing to reach out to the masses, and it is a huge upward trend.
The primary purpose of this article is to cast an investigative glance into the phenomenal success of influencer marketing by looking into the benefits it offers and the true extent of its acceptance as an effective digital marketing strategy.
A Brief Introduction
The phenomenal success of influencer marketing is quite remarkable. While the idea is nothing new, the advent of digital technology & the Internet and influencer marketing’s ability to leverage them lends it immense promotional power. Influencer marketing addresses and engages the digital community using social media platforms. YouTube, Facebook, Instagram, Pinterest, Snapchat and Twitter are some of the most populous social media websites of today. With the ability to reach millions, these online websites are the perfect promotional platforms for content creators.
Slowly but surely, brands have begun to utilize the untapped potential of the idea. Businesses across a wide range of sectors are now working with independent & creative content makers to expand their reach & influence opinions.
Influencing Public Opinion
Marketers across sectors are jumping on the influencer marketing bandwagon with increasing frequency. The bright prospects of better engagement, greater reach, bigger promotions and more profound influence are something that no self-respecting marketing professional can ignore. Brand influencers are critical to the success of any proper marketing strategy as it is their ideas, words and opinions that hook & engage their audiences.
So, who are these influencers?
Influencer marketing employs or, more appropriately, utilizes content creators and famous individuals for promotion and spreading the news about a brand. The idea of using famous faces to pitch for a service or product has been around for ages. However, the rise of social media ushered in a new era of marketing and famous social media personalities have the potential to sway the opinions of the masses.
• These “influencers” enjoy immense popularity with massive followings and dedicated fan bases.
• Companies tie up with these influential personalities to reach massive social media and online community.
• Marketing experts consider influencer marketing to be the modern & evolved version of word-of-mouth marketing. Experts also opine that this mode of marketing generates twice the sales compared to conventional paid advertisements.
• An influencer’s opinion, presentation and subconscious psychological influence have the potential to increase brand retention rate in customer mind by more than 37%.
• Influencers webcast their opinions and experiences live on online platforms, with potential leads learning about a new product or service, within a few hours of its launch.
Such a vast influence on such a massive audience why 75% of all significant marketers across different markets are investing large amounts in the strategy. The 2020 Covid 19 pandemic was a revelation and showed everyone the unparalleled benefits of the Web and technology. The next section looks into the data that show how much influencer marketing is influencing brands and its followers.
Influencer Marketing’s Rise Into The Mainstream
The very best in every business are adopting, designing and executing influencer-marketing programs to reap its unsurpassed benefits. The retail, legal and manufacturing sectors are allocating increasing resources to influencer marketing this year.
Notwithstanding the massive economic disruption caused by the Covid-19 pandemic, marketers are opting for multi-medium influencer marketing campaigns increasingly.
• Investments in influencer marketing campaigns are steadily increasing with many putting their faiths in the extensive reach of the system.
• Marketing professionals are observing value in the content and skills of popular & talented content creators. Their popularity and their following, coupled with the brand’s demand, is the perfect recipe for promotional success.
• The authenticity of this influencer opinions and the live nature of everything offers an accurate depiction of the product and the brand’s values & principles. The honest and upfront nature of influencer marketing is one of the biggest reasons behind its phenomenal success.
• Different mainstream channels such as television, print, radio are now adopting influencer marketing, etc. While the idea of employing famous faces has been a time-tested strategy for on-air promotions, the resurgence and incorporation of brand-new influencer strategies is a welcome change for many.
The heightened trust in multi-channel influencer marketing is one of the biggest reasons behind its meteoric rise. Social media platforms are a crucial player in these strategies. An increasing focus is on platform-independent techniques.
Guaranteed high ROI of most influencer marketing is another primary reason for the widespread implementation of the system. Add the myriad of other benefits, and you have a powerful marketing technique that here’s to stay.
The Decisive Benefits Of Influencer Marketing
Here’s a reiteration of the many decisive advantages that influencer marketing brings to the plate.
1. Building the credibility of the brand= Social media influencers enjoy a lot of trust from their loyal followers. They are an inspiration to their followers, and their opinions are often trusted without question.
It is this influence that brands exploit or utilize for promotion and building the credibility of their brand. Their loyal followers lap up the recommendations and information coming in from any influencer. It is thus no wonder why brands using this format of marketing have experienced a five times increase in their sales.
2. Highly relevant promotional technique= The highly relevant and targeted nature of influencer marketing helps it garner a quicker and more significant ROI than the majority of its counterparts.
For example, suppose you are looking to promote fitness equipment. In that case, tying up with a fitness personality with a large social media following is the perfect influencer marketing strategy for you.
Not only do you get to reach your target audience but also build the value and image of your brand manifold. Bigger influence means higher conversions and increases sales.
3. Faster customer acquisition= The impactful influence of influencers can help a brand acquire a large number of potential leads incredibly fast. Conversions are quicker too as the targeted audience is already interested in that product or service.
A study done by Influencer Marketing Hub shows that influencer marketing is the fastest at acquiring potential leads and successful conversions. Such a quick and remarkable effect is one of the most significant advantages of influencer marketing.
4. SEO Boost= Have you heard of the Domain Authority? Well, it is a score assigned to a website based on the quality, accuracy and relevancy of the content within. The better the content, the more the DA score and credibility of the website.
But what does it have to do with SEO and influence marketing?
Well, domain authority is a significant search engine score and has a big impact on SERPs. A large number of backlinks to top-notch content and other credible websites boosts Domain Authority scores. Links to good influencer content can improve SEO rankings for a business website, boost traffic and add credibility to their brand.
5. Vastly increases brand awareness and penetration= The extensive reach of influencer marketing does not just increase the probability of lead conversions but increases the attention of the brand extensively.
Apart from reaching the targeted audience, the strategy allows wider brand exposure and improves brand penetration. An influencer’s back up increases the visibility of the product and helps it reach to a broader audience.
6. Light on the pocket= Low expenses and better ROIs are the trademarks of digital marketing. The case is the same with influencer marketing as it is a part of digital marketing. Working with famous online personalities and renowned content creators is not that expensive at all.
Unless you want a celebrity as your brand ambassador, normal influencers can be worth every penny you invest. The so-called micro-influencers can help you reach millions at meagre charges. And in some cases, free products and services are enough to get them working for free.
7. Business-agnostic strategy= Influencer marketing is appropriate and applicable to all businesses and industries. All marketers need to do is find an influential individual who uses and believes in what their brand has to offer and voila! Their popularity and influence can be leveraged to reach out and connect with audiences, both niche and general.
Choosing and finding the right influencers for the job is crucial, however. Equally important is their trust, understanding and connection with the brand. Building a long-term relationship is essential, and it is best to consider this as a mutually beneficial investment.
In conclusion, we can say that the unprecedented and unmitigated rise of influential marketing is a clear indication of its high efficacy. Marketing platforms have increased twice, and the strategy is being adopted as a mainstream marketing strategy across the marketing spectrum.
Influencer marketing is now competing with content marketing, and even the most orthodox marketing minds are accepting it as a sound strategy.
It is no wonder 75% of marketers are looking forward to implementing influencer marketing as a permanent marketing strategy. One can say that the rise of influencer marketing has only just begun!
Author-Bio: Rebeca Silverman is a marketing guru, a social media influencer and a professional working with a major digital marketing firm in Florida. She is an authority in marketing and dispenses her knowledge to anyone in need, only at MyAssignmenthelp.com, USA’s most popular assignment writing service.