What is influencer marketing? It’s when businesses collaborate with people with large social media audiences to influence potential customers and mutually benefit.
Influencer marketing enables you to reach out to a broader audience, improve your online reputation, and build trust in your brand. According to recent research, influencer marketing can generate 11x the ROI1 of traditional advertising. And here’s how:
1) Builds trust
Recent data shows that 70% of millennials prefer product or service endorsements by non-celebrity bloggers or influencers2. Why? Because consumers can relate better to an actual person who they feel like they know. This builds trust in the influencer and in the brand he/she recommends.
Start by finding influencers that your target audience follows and reach out to them.This could be a well-known member of your community like a star athlete, or member of the city council.
Invite the potential influencer to use your product or service for free. In return, the influencer can mention your business on social media or even write a blog post about it on his/her website. Easy as that. It’s important to remember you cannot pay anyone, including an influencer, to write a review for you on any review site. This violates review site policies and is grounds for the review’s removal.
2) Improves brand awareness
When an influencer writes about your business, you have a great chance to make a good digital first impression with their followers. Use this brand awareness to your advantage by sharing interesting and relevant content on your social media pages and website that your influencer can link to. This engaging content helps you target your intended audience. It also adds to the social media presence of the influencer, ultimately adding value to both of you.
3) Boosts your ROI
Influencer marketing tends to outperform traditional ads. Why? Because influencers already have access to a niche audience. If you’ve identified a relevant influencer who already shares content that relates to the product or service that you offer, your chances of converting a customer increases. According to research, you can expect a return of $6.5 for every dollar you spend on influencer marketing3.
4) Improves your content
Influencer marketing can also help you fill content gaps in what you share online. You can readily share content of your influencers on Facebook and Twitter. This ensures that your audience gets access to engaging and relevant content on a regular basis. And this can save you time to focus more on your business and less on marketing while keeping your audience engaged and informed at the same time.
5) Provides insights
Feedback from your audience of current and potential customers is a great way of gauging their needs. Knowing what your customers want from your business is essential to providing an excellent customer experience. You can get this feedback by regularly checking the comments, likes, reposts, etc. on relevant social media posts of influencers.
And if you track your influencer’s posts, you get access to a lot of data. This data can give you insights into the type of content you should be posting to get more engagement. Better engagement means more customers. More customers mean growth for your business.