4 Reasons Why Brands Should Invest in Influencer Marketing
Brands have faced many challenges this year, including how to continue marketing in a tactful and effective way during a global pandemic. With productions canceled and marketing budgets slashed, influencer marketing has proven to be a powerful and successful marketing tactic in these unprecedented times. By collaborating with influencers, brands can reach a new audience, increase sales, and build brand loyalty in an authentic and meaningful way.
According to industry surveys, 80% of marketers already leverage influencers in their marketing strategy. Despite the rapid growth of the industry, some brands are still reluctant to embrace influencer marketing. Whether you’re concerned about influencer fraud or you’re just more comfortable with traditional marketing methods, you’re at a big disadvantage if your marketing strategy doesn’t include influencer partnerships.
Here are 4 reasons why your brand should invest in influencer marketing.
Influencer marketing is more effective.
With consumers spending more time than ever on their mobile devices, influencers give brands direct access to their target audience. They also lend some of their hard-earned credibility to the brands who work with them. According to Nielsen’s Consumer Trust Index, 92% of consumers trust influencers over traditional marketing methods. It’s no wonder influencer marketing is so effective. In fact, TapInfluence found that the ROI on an influencer campaign doubles after just three months. The study also found that a single piece of influencer content showed an 11x sales lift over a 12-month period.
Influencer marketing is more affordable.
Additionally, investing in influencer marketing tends to reduce overall marketing costs. With influencer marketing, there is no need to book a fancy studio, hire a camera crew, and pay top dollar for a model or actor. Seasoned influencers are skilled at creating professional-level content and usually include all production costs upfront in their fee. Along with significantly lower production costs, influencer marketing also provides brands with a bank of influencer and consumer-generated content that can be repurposed later.
Influencers are agile.
This year has demonstrated how important it is for marketers to be able to adapt quickly in times of crisis. Successful influencers have the unique skill of truly connecting with their audience in the appropriate tone and format even under the darkest of circumstances. During the height of the COVID-19 crisis and the Black Lives Matter movement, influencers demonstrated just how agile they are. When marketers lost access to studios and production crews during stay-at-home orders, influencers were able to continue creating content for their brand partners as they normally do with their own equipment and often in the comfort of their own homes. By quickly adjusting their strategy to offer support and provide value, influencers were able to continue marketing for their brand partners without offending their target audience.
Influencer marketing delivers measurable results.
While it can be difficult to measure the effectiveness of some traditional marketing formats, such as print ads, influencer marketing results can be measured. There are several KPI’s that brands can use to determine the overall success of their influencer marketing campaigns, including engagement, audience growth, and conversions to name a few. The influencer marketing industry has also seen a rise in the performance-based model (link to performance-based model blog post when it’s published), in which the influencer’s compensation is based upon measurable campaign results. In this model, an influencer is given a unique promo code or link to share with their audience so brands can easily track link clicks, sales, and other campaign results. With quantitative results like these, brands can better assess what is and isn’t working and how to change their influencer marketing strategy for future campaign success.
Influencer marketing has proven to be the most effective, affordable, and adaptable marketing method. Still, finding the right influencers and developing a successful influencer marketing strategy can be challenging for some brands. That’s where we come in.
At Agency 133, we cultivate genuine partnerships between our talented clients and brand partners to create meaningful and successful marketing campaigns. To learn more about our roster of incredible talent, shoot us an email at email@example.com. For more influencer marketing tips and industry insights, follow us on Instagram, Facebook, and LinkedIn.