Influencer marketing campaign is an extension of the original concept of word of mouth marketing, focusing on social context and performed in a more professional way.People buy from people. This is seen time and again as brands try to establish human characteristics. Even for online shopping, most people check reviews from, yes – ‘People’.
Influence is something you earn, not something you buy. Influencers are the people with whom people engage and react better because they trust. Influencer is admired due to his or her expertise or passion for a product, services or topic. According to Forrester, 73% of marketer have a budget for influencer marketing. Overall, 59% marketers at consumer brands say they’re planning to increase their influencer marketing budget in 12 months. Another interesting statistic reveals the, a sharp increase in the growth of influencer marketing.
- 84% of B2B buyers start the purchasing process with a referral. (LinkedIn)
- 92% of consumers rely on referrals from people they know above all else. (TapInfluence)
Now, we will look into the basic but most interesting reasons for the increasing popularity of influencer marketing:
Influencer Marketing campaign is cost effective
According to traditional marketing, advertising was the only medium to influence people. The purpose of advertisements was to influence the customer in favor of a product. It was an expensive way to establish a brand image and small business groups had huge budgets for advertising. Comparatively, influencer marketing requires small budgets. Not only big brands can afford influencer marketing but also it is available for small business groups. $6.85 for every $1 spent – this is the average media value earned by brands which implemented influencer marketing. (Burst Media)
Influencers marketer are social animals
Undoubtedly influencers are the most social people. Influencers not only talk about their experiences and their challenges but also encourage people to come participate in forums and share their reviews. Influencer actively engage their friends, contacts and followers connected with them across digital channels.
Influencer marketing is all about brand loyalty
Most of the influencers write and post about a brand because they have used the product or the services. They share their experiences aloud because they are highly satisfied. They want to be associated with the brand as they are very passionate about it. Therefore, influencers are the most loyal brand ambassador or the best advocates for a brand. MLM firms depend highly on influencers – For example, Herbalife has evolved into a multi-billion dollar brand and interestingly most of it’s marketing is done by influencers.
Influencer marketing is ‘Niche’
People engage with and react better to the people they know, trust and admire due to their expertise or passion for a product or topic. An influencer who has already gained the trust from his/ her followers over the years of relationship uses his or her expertise of subject matter to communicate a brand’s message to a particular market segment. Micro influencers have a relationship with their audience on the much closer level, they’re able to support niche marketing efforts. A survey has revealed that an influencer who has followers under 1000 had a ‘like’ rate of 8% in comparison to an influencer who has followers between 1000 to 10000 who had a ‘like’ rate of 4%.
Influencer marketing is measurable
It is very hard to measure when money is spent on Ad campaigns how many people watched it and how many people got influenced from the Ad. In influencer marketing campaign it is much easier to measure the results. The results can be measured by impressions, likes, comments, social shares and brand mentions. These performance metrics are used to evaluate any influencer marketing campaign.