what is influencer marketing

What is Influencer Marketing and Why it is Important for Your Business?

Admit it. Ads are no more promising and remain unnoticed many times.

Even if you follow some traditional methods of digital marketing you will always find yourself running after your customers rather than getting any proper attention from them.

Let’s have a quick look at some of the statistics:

  • 615 million devices now use adblock (PageFair)
  • 91% consumers find ads as more intrusive now than before (Hubspot)
  • 70% people say they dislike mobile ads (Hubspot)
  • Most popular ad blocking app has reached 300 million downloads in 2016 (Hubspot)

With these stats you can get to know that marketing through ads is not a very smart move these days. People no more get influenced with these ads.

Due to extremely high competition in the market it is very much difficult to convince people to buy your product and convert them into customers.

That’s why companies are going for Influencer Marketing.

Let’s dig in to find out what influencer marketing really is and why it is dominating the other marketing strategies.

What is Influencer Marketing?

Influencer marketing is the process of finding people to promote your product who have highly engaged number of fan following and high impact on their followers.

People who are famous in social media platforms are Influencers. These Influencers are experts in the industry and so they have a number of following (in one particular niche) who get influenced by their lifestyle and what they say.

For example:

What is influencer marketing

Everybody in the fitness industry knows this guy named “Sergi Constance”. He is having 2.6 million fans on Instagram and almost every guy wants to have a physique like him.

With this much of fan following whatever he says when it comes to build muscles people follow him.

Now imagine how much profit a supplement company can get if he recommends it himself.

Or a clothes brand just like this.

Influencer marketing

This is the power of influencer marketing which no other marketing has because people tend to believe people who they see as their idols.

Reasons Influencer Marketing is the Right Choice for You

1. It’s Different

Don’t think celebrities endorsing products has some similarity to influencer marketing. This is totally different and way more better than that.

Celebrity endorsement is to just pick a celebrity to endorse your product. It really doesnt matter where their expertise lies. They are endorsing the product just because they are famous.

But in influencer marketing companies choose people who are experts in their niche and are famous which ensures that the influence of product will be high. It is all about building up image in front of their followers.

2. Your Customers Trust Influencers

People are fed up with fake ads and fake promises. All of us have regretted once in our life, when we have purchased a product after watching an over exaggerated advertisement which has resulted in complete disappointment.

Sounds familiar?

That’s why we dont trust these ads anymore.

But in case of influencer marketing, influencers that are well trusted in certain circles use word-of-mouth advertising to showcase products as useful and reliable.

So it is really important for companies that are trying to gain new customers to connect  through these influencers to build a good image and trust.

3. It’s Powerful

what is influencer marketing

Due to the large number of active accounts and engagement of people in social media platforms it has become absolutely necessary for brands to focus on these platforms. Every year companies spend millions of dollars on ads because they know its potential is huge.

But the problem they face is less number of engagement of people to these ads irrespective of how much they are optimized.

As influencers have highly engaged following in social media platforms (which means their words don’t get ignored unlike ads) influencer marketing has been proved to be very powerful in terms of driving traffic to company websites and leads to their business.

One of the example I have also mentioned earlier in my post How to make money on Instagram is GiGi Hadid with 32.4 million followers did a collaboration with Tommy Hilfiger last year and it resulted in 900% of increase in the traffic of brand’s website in only two days.

Also Shane Barker has mentioned some other examples where brands nailed influencer marketing and left their competitors far behind in sales.

4. Perform Better than Ads 

People often decide to purchase after watching a positive review of a product from an influencer which means companies can accelerate their sales through paid reviews.

Whereas ads are nowhere near the potential of influencers. They remain unnoticed and even blocked many times. With the increase in ignoring behavior of people towards these ads companies are relying more on influencer marketing.

5. High ROI

According to Tap influence, influencer marketing generate 11 times greater ROI than digital ads.

Saying Hello doesn’t have an ROI, it’s about building Relationships.

Also for almost 74% consumers, social media is a major decision making factor before they make a purchase and we know that social media is ruled by influencers.

Right?

That is why companies are ready to spend a lot on influencer marketing because it provides better ROI than traditional ads.

Conclusion

Influencer marketing has become the most prominent and the easiest way for companies to launch their products in front of millions of people.

So if you are a startup who is struggling to get more attention of people then influencer marketing is the best choice for you as it will provide you more exposure and opportunity to extend your reach to tap the market.

 

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