These days, just about everyone and their mother are trying to be influencers. This supply and demand ratio greatly benefits brands worldwide as finding worthwhile influencers to collaborate with is not only easy but inexpensive. The market is flush with ripe girls and boys looking to monetize their social media accounts in exchange for marketing your brand for you. Win-win.
For those who have yet to jump on board the influencer marketing train, you’re seriously late. Trying something new when it’s hard to measure your return on investment can be scary but all you need to do is look at the numbers. Real-life influencer campaigns and their results prove that it can not only help you reach your marketing goals, it can greatly reduce your overall spend.
Get a Kick-Ass ROI
Generating 500k in sales revenue from a marketing campaign is incredible. If your campaign cost you a million to run though, it means you’re probably horrible at your job. For this reason, your ROI, or return on investment, is the most important metric when it comes to marketing. Your ROI measures the efficiency of your marketing investment. In other words, it measures the amount of return on an investment relative to the investment’s cost.
In 2016, Nielsen Solutions found that influencer marketing generates 11 times the return on investment compared to traditional marketing initiatives. Now I don’t care who you are- no one says no to an 11x return.
Besides the immediate return, influencer marketing will also have you enjoying long-term benefits. Forming relationships with influencers who can vouch for and promote your brand on a continual basis is invaluable.
Reach the Unreachable
Ads are annoying. It compromises online safety, decreases load speed and interrupts web surfing. A new report from PageFair found that ad blocker usage jumped by 30% in 2016. This is on top of the already 615 million ad blockers installed around the world by that time. What this means is that all that work you’re putting into creating cool, eye-catching ads is falling on blind eyes. They’re not even seeing it.
Now, there’s no way you can convince these people to remove their ad blockers (because let’s face it- ads are the worst), but you can use the loophole that is influencer marketing.
Influencer marketing lets you spread your marketing seeds without traditional advertisements. Instead of sending your message the old-fashioned way, influencer marketing uses social media and its biggest players to show off your brand in a non-promotional and seamless way. Take that, ad blockers.
Edge Out the Competition
Forrester Research Group conducted a survey and found that as of 2016, nearly 75% of marketers across all industries cut a slice out of their budget pie for influencers. Regardless of the industry you’re in, those odds say that a big chunk of your competitors are doing it.
While we’re not suggesting you to copy-cat everything your competitors are doing, influencer marketing is too good to pass up. Like we mentioned, it saves you money and helps you reach your goals quicker. If you don’t get today’s influencers to promote your brand, your competitor will get them to promote theirs. The choice is yours.
No matter how you look at it, there’s no denying the value in influencer marketing. If our arguments weren’t enough, take it from businesses themselves. AdWeek revealed that 94% of brands they surveyed felt that partnering with influencers was a good experience and yielded a positive ROI. Brands cited different reasons for success with influencer campaigns; increased website traffic, increased brand awareness, increase revenue generation, and higher customer engagement.
If you don’t know where to start, consider making use of influencer apps that do the work for you. Rep does just that. Rep is an app that joins vetted brands and influencers together through an intuitive system that learns and surfaces ideal matches. You can gauge alignment and reach with a target subject or audience and analyze the potential impact of each partnership. The best part- it’s free.
Jump on the train, friends. It’s already left the station and blazing full speed ahead.