Many years ago, the influencer marketing arena was limited to celebrities or a few paramount bloggers. Now that social media platforms and influencers have risen simultaneously, saturated the market, and it's important to know that everyone can be an influencer. This type of marketing strategy is more challenging to navigate than ever as a brand. But after all, it is worth trying influencer marketing since people want to buy from other people. When a group of specific customers finds someone they like or admire, they are more likely to trust their influencers' recommendations.
What is influencer marketing?
Influencer marketing is a way for companies to boost their sales from endorsements or recommendations from influencers and content creators who have a significant social following and are considered experts within their niche.
The reason why many companies are struggling with influencer marketing is not that the channel or marketing strategy solely doesn't work. The sponsored content also needs to be reviewed whether it's thoughtfully planned, executed, and genuinely aligned with the audiences. While you may don't want to stifle the creativity and uniqueness of the influencers, you also don't want them to post something unrelated to your campaign. Words sell things, so your message is as important as your goal. It's best to define how to structure your influencer marketing campaign and message so that you can stick to it later on.
The current context of the influencer marketing landscape
Despite the COVID-19 pandemic spread over the last 12 months, which now seems to be ongoing, influencer marketing is constantly growing in popularity and global scale, making businesses unable to overlook its significant impacting role. 65% of influencer marketing budget increased in 2020 was reported, expected to rise more through 2021. During the lockdown and people hunker down at home, raising the need for interaction via the online world, influencers have worked incredibly hard to adapt to the newfound needs of audiences. While most of the brands and economics, in general, have been substantially impacted due to the novel coronavirus pandemic, it has enabled the influencer industry to shift in a slightly brand-new wave whilst generating more opportunities for brands.
Top 5 goals of influencer marketing
1. Increase brand awareness
Brand awareness precedes choice, and choice precedes results. It is generally measured by impressions, reach, and engagement metrics, so one of the top priority goals of influencer marketing focuses on building awareness towards a brand, product or service.
2. Reach new audiences
Influencers and companies coordinate to work on the same target audiences, and influencers should be able to share the information around your buyer persona, such as age, sex, interests, etc. help ensure the alignment for the target niche.
3. Generate sales
Today, more influencer campaigns are targeted to increase tangible sales, which can be tracked using customized links, landing pages, and redemption codes.
4. Improve brand advocacy
Good influencers advocate for products that they did or have experienced, and then they can provide strong validation
5. Drive lead generation
Influencer marketing gives many spaces to connect with customers directly, and your company can collect mails and demographic data through newsletter subscriptions, account setup, or giveaway entries. Calls-to-action messages are always a good way to generate more leads but don't overuse them in a single sponsorship. It can drive the audience's confusion and negatively affect performances across KPIs.
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