Use Influencer Marketing to Make It BIG Online
PewDiePie. Song of Style. The Blonde Salad. There’s a new breed of celebrities in town and brands just like yours have made them millionaires. From collaborations with global names like L’Oreal, Disney and Amazon, these influencers are changing the shape of their industries. Their rise to fame and fortune is almost exclusively on the back of blogs and social media popularity. This is influencer marketing in action.
Courted by brands eager to tap into their huge audiences, these digital celebs make a living by endorsing products, trying services and sharing their opinions with the world. If your budget does not have the thousands of dollars it costs to collaborate with these types of a-list influencers, there are plenty of other affordable, accessible and powerful personalities and industry experts ready to help you get started with influencer marketing.
But, first things first. How does influencer marketing work? How is it measured? Read on to find out more and discover how to build an effective influencer marketing strategy for your business.
What is Influencer Marketing and How Effective is it?
Recent studies show that influencer marketing is extremely effective.
- TapInfluence and Nielsen Catalina Solutions research concluded that influencer marketing generates 11x more ROI than traditional advertising annually
- Influencer Marketing blows away other activities, creating $285 in incremental sales per 1,000 impressions
- Unlike advertising, influencer marketing content is available permanently online, increasing media value over time with no additional investment
- ROI has been shown to double after three months, with 2x as many impressions after the campaign ends
Molly Reynolds from The Unicorn in the Room says that content marketing is also a viable antidote to other marketing inefficiencies:
- Even the best content will have a limited audience if it’s only published on your own media channels. Influencers make a living thanks to their huge networks, with loyal and large followings. This means your content reach is amplified when working with influencers.
- The increasing use of ad blockers means not all paid ad spend is efficient – or even seen. However, social media following and blog readership is elective, so any content created using influencer marketing will be visible to the audience.
- Traditional PR works but, not all effort guarantees coverage. With influencer marketing, you’re paying to work with the influencer and assured of a positive piece of content.
Of course, in order to tap into these benefits, you need to build an effective influencer marketing strategy.