Written by Natalie Lancaster
Following the rise of Mrs Hinch in 2018, the need to add influencers into brand strategies has become paramount and it is predicted that influencer marketing will become a $10 billion industry by the end of 2020.
Influencers are touching every topic you can imagine from food and beauty to fashion and home interiors, and in turn marketers have increased their budgets by up to 65 per cent to ensure brands are getting exposure from the right influencers. And, 89 per cent of those say the return on investment is comparable or better than other platforms.
This platform of promotion has become so popular the Advertising Standards Authority has now outlined a guide to inform influencers and brands on how they should be making their content clearly labelled, if it is an advertisement.
So, what benefits can an influencer marketing strategy offer brands?
Influencers are now seen as trustworthy sources and their followers rely on the messages and brands that they’re promoting. And, in turn, the influencers cater their messaging to appeal to their own audience while also targeting for the brand. Lisa Targett the UK general manager of the influencer marketing platform, Tribe, says: “Leave it to the creators to show how best to engage their audience – don’t necessarily art direct. You could be missing out on really interesting insights generated by your customers about how any why they love your product.”
2. Generates relevant leads
With influencers being a trusted marketing tool, this can lead to potential customers being directed to the brand’s social channels, website or to make a purchase.
The Digital Marketing Institute states that 40 per cent of people had purchased something after seeing it on Twitter, YouTube or Instagram. It said: “If consumers feel confident about an influencer’s recommendation, they are more likely to make a purchase. Brands are able to piggyback on the trust of influencers.”
3. Raise brand awareness
Working with influencers on products, brands and events is a fantastic way to raise awareness, as influencers who can share their experiences through social media will ultimately put your brand in the spotlight. This can help it to become more relevant in the eyes of your audience.
4. Bloggers for your budget
A benefit of so many influencers being across a number of topics means there is a lot to choose from to suit your brand and your budget.
For example, micro bloggers are taking social media by storm and are essentially giving businesses a wider spread of ambassadors to work with.
According to Growth Business a micro influencer is “people with smaller followships but with great credibility. What these micro-influencers lack in reach, they more than make up for in audience engagement and authenticity.”
Micro bloggers can help form a targeted community of other influencers and their audiences around a brand to create a buzz on its products and services.
Need help with your influencer marketing strategy? Our team has a wealth of experience working with influencers across a wide range of sectors, platforms and followings.