Influencer Marketing: Your Complete Guide
An influencer is a person who has a huge fan following and who can influence their opinions or decisions based on his. He is credible and is looked upon by his followers because of his authority, knowledge, position or relationship. Influencer marketing is a practice where a brand partner with influencers to communicate the brand or product campaign to the target audience. This form of marketing communication has better conversion rates and help marketers to dive deeper in their niche.
Influencer Marketing is a practice where marketers partner with influencers who have a considerable number of followers to promote a brand or a product. This new style of marketing communication is already at a rise as more brands are turning to digital creators to reach new audiences and younger customers to build buzz around their products.
Influencers are usually digital content creators or social networking websites users, pages and groups who have lot of followers. They include –
- Niche bloggers with high fan following.
- Renowned and hugely followed Social Networking Websites (Youtube, Facebook, Twitter, etc.) users.
- Other People, Pages & Communities with many followers on social media platforms
Influencers, though are paid by the brands to help them in carrying out their marketing strategies, are considered to be earned media and hence result in better conversion rates for the brands.
“This is where entertainment is going for teens and Millennials. It doesn’t matter how raw the content is. It matters how successfully it is accepted by the audience and how successful it can be for your audience.” – Ricky Ray Butler, senior vice president, Corbis.
Qualities of Influencers
With the rising trend of Influencer marketing, it is important to know who a true influencer is. Here are the following qualities of a good influencer
- Trustworthiness – these people are trusted by their followers (millions of them).
- Fan-Following– These people have tons of fans & followers of their niche. E.g. Ethan Banks (tech influencer), Frédérique Harrel (fashion blogger), Ted Coiné , etc.
- Leadership – These guys are the true leaders. The not only guide their followers, but also interact with them. These guys know what the people want and how to fulfil those wants.
- Influential – Influencer are here in the market to influence the decisions of the followers. 92% of consumers say they trust earned media. (Webbed Feet, 2012.)
- Trend setter – Most of the influencers feed their audience with new trends and hence influence their opinions and decisions.
Influencers can prove out to be the ‘Agents for change’ for your business. All you have to do is to partner with the right one.
Reasons to go for Influencer Marketing
- Tomoson marketing study revealed –
- Influencer marketing was rated as the fastest-growing online customer-acquisition channel
- 59% of marketers will increase their influencer marketing budget.
- Influencer marketing is the most cost-effective channel
- 51% of marketers believe they acquire better customers through influencer marketing (Source)
- A study conducted by Nielsen revealed –
- 85% of consumers regularly or occasionally seek out trusted third-party content when considering a purchase.
- On an average, earned media (content written about a product or service on a reputable third-party) lifts brand familiarity 88% more than branded content alone. (Source)
- Businesses are making $6.50 for every $1 spent on influencer marketing.
Influencers are connected with the target group more than any company can ever be. They are a part of them, more famous though. Their posts, videos, or images result in a personal touch with the audience.
People trust them
They aren’t millionaire celebrities. People trust them as they are honest and are a part of their community. People trust them as they think influencers have a better knowledge base than them.
They are not Big Companies
Hence working with them is easier and simple. They don’t have that busy schedule as compared to other big advertising companies. Less workload results in more creative ideas for your benefit.
Influencer marketing is better than advertisements
According to a recent study (Webbed Feet, 2012), 92% of the consumers say they trust earned media, while only half trusted paid ads. Plus, influencers’ posts have a long-lasting effect and long shelf value (on the internet). Unlike those 40 second ads, influencers can make a 10 minutes video, or a 1000 words blog post and people do read it.
Influencers perform their jobs in a particular niche. They have a better and wider reach than other mediums. We have different influencers for different niches. All you have to do is to find the right one.
Unlike millions spent on advertisements, influencers provide you better reach with a less cost. Cost per lead of earned media is far less than paid media.
Lead generation by earned media is 10-15% more than as compared to paid media. (Conductor, 2014.)
Future of Influencer Marketing
With around 47% of online consumers using an ad block, influencer marketing is one of the only options that is left with the brands. Other options include – E-commerce partnerships, inbound marketing, paid search advertisements, email marketing etc. Out of all these, influencer marketing was rated as the fastest-growing online customer-acquisition channel with over 84% of marketers planning to execute at least one influencer marketing campaign in the next 12 months.
People believe in others whom they look up to more than they believe in advertisements. Influencers are known for their knowledge and expertise. They do have the ability to influence their followers’ interests and opinions. Any brand planning to spend on digital marketing must include influencer marketing as a part of their strategy..
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