By now, I’m sure most of you know what Influencer marketing is. In its simplest form, it’s brands using key content creators to showcase what they’re all about. But why does it work so well?
I don’t know about you but I can’t remember the last time my friends and I bought a product as a result of a TV commercial or radio ad or better yet a flyer! That simply doesn’t happen very much anymore. And why would it? Who believes a brand would say anything bad about their own product? This obvious bias in advertising resonates more with Gen Y, and Gen Z consumers - making them less likely to watch, nevermind believe, paid advertisements.
Traditional advertising has taken a huge hit these last few years and I mean HUUGE - CTR for banner ads is only 0.06%! People today don’t respond to hard-sell marketing techniques anymore. This is why brands have turned to creating a more personal & transparent way of connecting with their audience. Who better to get through to consumers than consumers themselves?
This is where influencers come in. For a while we believed that the only way an individual could sway the opinions of consumers was if they were some kind of A-list celebrity, now we can confidently say that that couldn’t be further then the truth. Because of social media, Influencers can be found with all sorts of followings - and what’s really interesting is there is that typically, influencers with smaller followings, are actually more engaging and believed by their audience!
Now more than ever, trust is crucial - and 83% of consumers trust the recommendations of their family or peers over any form of traditional brand advertising. People want to see content that relates to them but more often than not, brands have a difficult time bridging the authenticity gap on their own. In other words, brands need Influencers to deliver authentic advocacy.
The reality is, it’s a highly saturated market. So, it’s not just about the sale for brands, it’s about building trust within targeted communities to develop life-long customers. This is where influencers make the biggest impact because they know exactly how to speak to their audience, and when they speak their followers listen.
Influencers have build massive communities for themselves by becoming experts at creating quality content that resonates with their audience and brands need to be taking advantage of this opportunity.
Are there influencers you follow for practical advice?
If so you’re not alone, according to Forbes 60% of consumers believe UGC (user generated content) is the most authentic form of content creation. This can be something as simple as a static social post or product reviews & blogs. This gives brands the opportunity to reach audiences they would not have otherwise reached.
(72%) of consumers’ purchasing decisions are influenced by Instagram profiles, so how and where your brand is digested on social media might be more important than you think.
In 2017 alone influencer marketing grew 198% and as an expert in the space- I know there's a good reason for it. There are clear trends developing within the realm of Influencer marketing, diversifying the category itself, and giving new options to marketers.
If you are looking to develop authentic relationships, repurpose creative content, increase engagement & conversion rates then you better hop on board because influencer marketing is definitely worth the hype.