Influencer Marketing – Should you consider influencer marketing for your Business?
Influencer marketing is a fairly new marketing technique that aims to use the reach of a top influencer to increase brand awareness and interest. As a business owner, getting an influencer to talk about or review your product can increase your sales and profits if the influencer has a wide following and is highly respected.
What exactly is influencer marketing?
This is a form of marketing that requires a brand to use an influential individual to talk more about the brand’s products or services rather than advertising the products directly to the buyers. Also referred to as influence marketing, influencer marketing can be in the form of a review article or post, shout out on social media with the influencer’s recommendation, testimonial advertising, and others.
For influencer marketing to deliver the best results, it’s advisable that you use an influencer who has a large following from your target demographic.
What is an influencer?
Influencers come in different forms, with the majority being celebrities. However, an influencer can also be a vlogger, blogger, social media poster who has a large number of followers or a thought leader in a specific industry or sport. Almost every industry or niche that exists has influencers.
Influencer marketing vs. celebrity endorsement
Despite being quite similar in how they work, celebrity endorsement and influencer marketing are not the same. Celebrity endorsement is considerably reliant on the celeb’s fame to increase the awareness of the product, whereas influencer marketing is based on a semi-organic word of mouth form of advertising from trusted sources.
In reality, every celebrity qualifies to be an influencer, but not every influencer is a celebrity. To be an influencer, one should have a large following from fans and supporters, be a credible source of advice, hold authority as an expert, or simply be an individual who people admire and look up to.
What is the value of influencer marketing?
The value of influencer marketing is mainly based on the influencer’s plausibility or authority when talking about a specific product, as well as how effectively they can reach a wide audience of followers. When looking for an influencer to work with, you should target an individual who has built a credible reputation for a long time, to make it more likely for buyers to purchase your products.
Influencer marketing, when used in the right manner, can reduce costs when compared to traditional marketing methods, while still delivering up to three times the ROI of traditional marketing.
Does influencer marketing work for every business?
Sadly, influencer marketing will not work for everyone. For this type of marketing to work for your business, you have to identify the successful influencers within your niche. In addition, you will want to ensure that the influencer says something positive about your products or services.
That way, it will be easier to bring out your Unique Selling Propositions (USPs) to your audience, such that they will be convinced to find out more or to make a purchase. As long as you find the right influencer within your niche, then influencer marketing should work for your business.