Influencer marketing is one of the best strategies for growing your company’s audience, establishing your authority in your domain, and becoming a thought leader in your area of specialization.
There is no denying the popularity of influencer marketing. Market size increased from $1.7 billion in 2016 to $9.7 billion in 2020. It rose to $13.8 billion in 2021, showing a steady rise. The industry is anticipated to grow to a massive $16.4 billion sector this year.
This article covers what is called “influencer marketing,” the benefits of influencer marketing, and how you can grow your business with influencer marketing.
What is Influencer Marketing?
Influencer marketing is a practice used by companies to advertise their goods and services by collaborating with well-known social media influencers or bloggers. Someone who can influence others’ purchasing decisions is known as an influencer.
An influencer can accomplish this because of their position, authority, education, and unique connection to their audience. Brands may use influencers’ usually huge and engaged audiences to increase their credibility and possibly boost sales.
The Benefits of Working with Influencers
We’ll concentrate on just a few of the many benefits of working with influencers so you can get a better understanding of what this kind of marketing can achieve.
An Increase in Trust leads to Better Engagement
Influencers are known to have an established bond with their audience because of their content.
If your content strategy is excellent, working with an influencer will make it simple to communicate your message to the audience while ensuring a higher engagement rate.
Increased brand awareness is guaranteed whether the influencer is a micro-influencer with 10K–30K followers or a mega-influencer with millions of followers.
By participating in the influencers’ newsfeed reel, you are putting your message or brand in front of thousands of people. As a result, a wide range of audiences will be made aware of your brand on various levels.
Boosts Your Overall Content Strategy
Influencers’ sharing of your content helps to fill in any content strategy gaps.
Although you shouldn’t compromise on a poorly designed content marketing strategy for your website, whenever influencers promote something, the overall strategy improves quickly.
The incoming traffic from the influencer’s side can help you to maintain a constant traffic flow until you can think of new ideas to implement, particularly when you have run out of things to share on your social media page.
Influencer marketing does improve the outreach factor, even though it can be expensive. Within a short period, millions of users can see your product on numerous social media platforms.
Influencers are listened to because they’ve already developed a close relationship with their audience.
Better E-mail Marketing Opportunities
Ultimately, if you have established a procedure to obtain the referral traffic’s contact information via your products or services page, you are in good hands!
How To Grow Your Brand With Influencer Marketing?
To stay in touch with potential customers, you can make a personalized newsletter campaign using the newly acquired email list. Your email schedule, email content, and the time of day you send those emails all affect how many sales and interactions you receive. However, it effectively benefits your company as a whole.
1. Who Are The Right Influencers?
According to a study, 67.9% of American marketers were expected to use influencer marketing in 2021. 80% of marketers believe influencer marketing to be successful. Select influencers who comprehend your industry when hiring them for your company.
Investigate the influencers who are already discussing comparable goods and services. Use hashtags on social media, look through competitor mentions and tags, conduct a YouTube keyword search, and begin following well-known blogs and bloggers. A further option is to ask your followers who have large followings to promote your brand. Learn more on how to find influencers for your niche.
2. Micro-Influencer Marketing
Using macro-influencers or celebrities who might be too expensive is not necessary if your business is small. Micro and nano influencers, or those with 1,000 to 20,000 followers, can be used. A survey found that 47% of influencers have 25,000–1,000,000 followers or macro-influencers. They are more approachable than conventional celebrities and have a high engagement rate.
3. Choose the Right Social Media Platform
Each influencer has a preferred social media platform. Choose an influencer who is well-known on the platform before choosing them to represent your brand. Before hiring an influencer, determine where your potential customers like to hang out.
Use TikTok or Instagram influencers, for example, if Gen Z is your target market. TikTok, Facebook, and Instagram are the three most popular platforms for American marketers.
4. Set Goals and Track Your ROI
Set measurable objectives after choosing the influencers and platforms to use. Share your intentions and goals with the influencer to attract new customers so that they can adjust their content accordingly. Trackier’s Affiliate Management platform is the tool you need to attribute your marketing campaigns all to one single dashboard.
5. Provide the Necessary Influencer Marketing Resources
You must give the influencer the tools they need for your marketing campaign to be successful. Send them any information they can use to promote your brand, including images, videos, presentation slides, case studies, client testimonials, and so on
In case they have any queries or require clarification, you should also be available. Once you begin receiving inquiries from prospects as a result of the marketing campaign, take action to turn them into devoted clients. That’s the only way you’ll achieve your marketing goals.
In the modern world, influencer marketing has become a crucial tool as a marketing strategy. However, you must be willing to experiment in your own niche to determine what works and what doesn’t as influencer marketing does not have a one-size-fits-all approach. Influencer marketing can be useful for all types of businesses, whether they are well-established or just getting started. But make sure the influencer is fully aware of your brand.
Trackier’s Performance Marketing and Affiliate Management Software enable brands like you to create, automate, measure and optimize all your marketing campaigns on one platform while providing you with actionable real-time analytics so you can make better marketing decisions and maximize your ROI. Request a demo and get a free trial today!