The Pros of Influencer Marketing
Social media has given birth to an age of influencer marketing. People fall in love with various internet personalities and begin to rely on them to recommend various products and services. This incredibly lucrative marketing strategy is currently all the rage. The following reasons, and many more, are a great explanation as to why brands are so committed to tapping into this marketing stream.
Compared to traditional marketing, hiring influencers is much cheaper. The average cost of working with a micro-influencer (someone with anywhere from 2,000 to 50,000 followers) can be negotiated anywhere from $250 up. There are even some individuals who will work in exchange for free products or services. This gives companies the opportunity to pay quite a few influencers what it would cost to pay for a celebrity endorsement or produce a comprehensive marketing campaign. Additionally, there is no guarantee these expensive measures will translate into sales. Influencer marketing is a much more targeted approach for a lot less money. It’s a win-win for businesses.
Working with influencers also gives businesses the unique opportunity of seeking out their target audience and marketing directly to them. As a business owner, would you rather advertise to a hundred people and hope some of them are passionate about your product? Or would you rather advertise to a hundred people you already know have an interest in your product? The latter group is more likely to buy what you’re selling. This is why influencer marketing can be so effective. An article written for shanebarker.com mentions, “Collaborating with the right influencers for your brand can help you reach relevant audiences. You need to carefully choose influencers who are relevant to your niche and industry. You can approach influencers who endorse brands similar to yours. This makes it easier for you to identify influencers who have an audience that you are trying to target.” Influencer marketing also saves businesses time. Each internet personality has already worked to cultivate the audience for you and your product.
This form of marketing is a way for brands to sort of take a shortcut in terms of building relationships with consumers. Instead of building a relationship from scratch, they have the ability to cultivate an environment where it feels as though a close friend is recommending something for you to try.
Shanebarker.com also states, “Trust takes time to develop and people trust the influencers they follow. So, if an influencer talks positively about a brand, then their followers are more likely to believe them. Therefore, one of the biggest pros of influencer marketing is that it helps you build people’s trust in your brand and enhance your brand’s credibility.”
As social media platforms become increasingly popular, influencer marketing does too. This targeted approach to marketing seems to really be taking off. When done correctly, it can be extremely lucrative for both the company and the influencer. You can expect to see it for many years to come.