For every dollar businesses are investing in influencer marketing, they are subject to an average return of $5.78.
Data fetched from a report indicates that influencer marketing grew from a $1.7 billion industry in 2016 to a staggering $9.7 billion one in 2020.
You’ll be shocked to know that in 2021 itself, the global influencer marketing industry reached new heights – when it crossed the $13.8 billion mark.
Such exponential growth indicates that brands are investing their precious dollars in influencer marketing and, at the same time, are subject to exponential returns.
As a business owner, C-level executive, or marketing executive, since you are reading this article, you’re probably wondering:
“Why exactly are brands, especially top giants, pouring their top dollars into influencer marketing?
Is influencer marketing even beneficial?
Should we allocate a few hundred or thousand dollars towards influencer marketing?”
And if these are the kind of questions popping in your head, allow us to help you out.
Throughout this blog post, we’ll help you explore the world of influencer marketing – as we’ll be looking at the four BIG benefits of incorporating influencer marketing into your overall marketing strategy.
4 BIG Benefits of Influencer Marketing That You Didn’t Already Know
Following are the four BIG benefits of influencer marketing:
- Helps Build Trust & Credibility
- Drives Conversion
- Helps Avoid Positioning Yourself as Pushy
- Helps Build Winning Partnerships
Let’s touch down on each of the influencer marketing benefits one by one.
Helps Build Trust & Credibility
About 81% of consumers consider trust to be one of the most crucial factors that they consider while making purchase decisions. This means – the more they trust a brand to deliver a great product/service the more likely they’ll do business with them.
The problem with today’s digital world is that – it’s cluttered. Almost every single brand out there, even the ones offering poor-quality products and services, is running aggressive marketing and advertising campaigns with the result that it has just become harder for customers to trust anyone.
And if you want your brand to stand out and break through the noise, we’d advise you to focus on building trust and credibility. Positioning your brand as reliable and trustworthy is what will help you drive customer loyalty and hit your KPIs.
While most people would claim influencers as people with decent or massive fan-following across different social media platforms, what makes them special is that they have spent years building trust with their followers. Their followers trust them. Most importantly, their followers look up to them and seriously take into consideration their recommendations.
61% of people trust influencers’ recommendations. This means – when an influencer in your niche promotes your product(s) or service(s) on social media, they’re telling their followers that they trust your brand’s product(s) or service(s). And since it’s coming from an influencer they look up to, their followers would love nothing more than taking the desired action – like hopping onto your brand’s Instagram profile or website or landing page. Directly or indirectly, you’ll be redirecting years of their built-up trust and credibility towards your brand.
Drives Conversion
When an influencer in your niche promotes your product(s) or service(s) across their social media channels, you’ll see a spike in your website or landing page traffic – depending on where the influencer’s posts or stories are redirecting your audience to.
Now, if you want to boost your sales it’s really important to collaborate with influencers in your niche. At the same time, it’s important to make sure that the influencers’ followers comprise people who are most likely to purchase your product(s) or service(s).
Collaborating with the wrong influencers will be nothing but a waste of your precious dollars. And if you collaborate with the right influencers and roll out highly-converting campaigns, then you’ll see an exponential spike in your website traffic.
From there, depending on your website and the rest of your marketing funnel, if everything is optimized and in the right place, you’ll see an ever-increasing number of people purchasing your products or booking a strategy call with you – which means a higher conversion rate. And that’s one of the gigantic-sized benefits of influencer marketing.
Helps Avoid Positioning Yourself as Pushy
As we mentioned before, almost every single brand out there with an online presence is trying so hard to put their ads or emails in front of their audience that it has become really frustrating for people.
While there’s no official figure for this one, an average person consumes anywhere between 6,000 and 10,000 ads (both digital and print) every single day.
And it’s just too much.
Your prospects and customers already have enough brands pushing their products and services in front of them. And while we’re not against ads, you can avoid positioning yourself as pushy by running strategic influencer marketing campaigns.
Don’t get me wrong – with influencer marketing you’re pushing your products in front of your consumers. But technically, it’s not you who’s doing it. Instead, it’s the influencer who you’ve collaborated with – who’s promoting your product(s) or service(s) on their social media profiles.
This way, you won’t have to worry about appearing pushy – which is a really huge benefit.
Helps Build Winning Partnerships
The benefits of building long-lasting and winning partnerships with influencers in your niche are endless. By collaborating with these influencers, you’re tapping into an already engaged audience.
Not only can you collaborate with these influencers, but also appoint them as brand ambassadors. At the same time, you can get them to sign an exclusivity contract – which will help you ensure they don’t work with your competitors.
And if the money or offer is right, it’ll be a win-win situation for both parties. The reason why it’s beneficial is that – when their followers consistently see them promoting your brand’s product(s) or service(s), they would genuinely be aroused.
According to a research piece, it takes eight touches on average to get your prospect interested in your products or services. Building long-lasting partnerships with influencers will help you put your products or services in front of your audience more often. And when their followers see your brand multiple times, they’d want to try your product(s) or service(s) out.
Conclusion
The benefits of incorporating influencer marketing into your marketing strategy are endless. And with platforms like Facebook, Instagram, YouTube subject to such heavy consumption, it makes sense to promote your brand across these platforms.
At MoreInfluence we help brands generate more influence and help them drive more sales, generate higher revenue, and, most importantly, build trust and credibility with our strategic influencer marketing approach.
Head over to our “Our Process” page to gain insights into ??our end-to-end process.
Don’t wait around! Schedule a call with our experts today!
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