With 80% of consumers saying they have purchased something via an influencer recommendation, the power that social media influencers have in today’s world is something that brands cannot ignore.
Having a strong influencer engagement strategy can help your business reach thousands of new customers in new markets, execute successful online product launches and boost your brand awareness. In this blog, we run through the top 5 reasons that you should invest in influencer marketing.
- Get High ROI Results
When your brand has built credibility online and builds a consistent presence within Influencer Marketing, many businesses see quite a high return. The key point to know is that your business must really understand who your target audience is. Investing in influencer marketing can drive results, but only if you have a deep understanding of who your target audience engages with. According to TapInfluence, the return on investment can double after three months.
- Build Brand Awareness
Investing in influencers that have your target audience in mind can develop brand awareness much quicker and more effectively than other digital channels. These influencers have already developed concentrated followings of potential customers. Over 40% of people have admitted to purchasing an item after seeing an influencer using it. Even for followers that may not purchase, creating stronger brand recognition may bring them to purchase further down the line. One such way of doing so is creating educational and ‘shareable’ content.
- Increase Reach in New Markets
As previously mentioned an influencer’s following can also create brand awareness in new markets that your business is interested in exploring. This way your brand can test the engagement and interest of other markets with a significantly reduced time and financial investment.
- Start the Customer Journey
As influencer introductions may possibly be the first time that a user has engaged with your brand, for higher value items, it may just be the first touchpoint of many to influence a user to convert. This is more true for B2B businesses utilising influencers. Consider the price of your items and the amount of consideration it may take someone to purchase.
- Build Deeper Stories and Stronger Connections
Engaging with influencers is like using expert content marketers to build content about your brand that they know their audience will resonate with. Influencers can build personal, in-depth stories about your brand or product while curating the content with their audience in mind. This obviously creates a more personalized experience for the user to potentially be interested in converting in the future.
Is Influencer Marketing Worth the Investment?
Absolutely! However, prior to investing in this type of marketing, it’s vital for your business to understand your target audience in great detail, as well as understand the influencers which they engage with the most. It’s also important to understand the timeline it may take to start to see a return on the investment made.
If you are curious about investing in influencer marketing, reach out to Meerkatz for the advice!
Source: Rakuten
