YouTubers, bloggers, Instagrammers, and other social media influencers are dominating the world of advertising and brand endorsements. But does this mean that influencer marketing is taking the place of traditional advertising? It seems that several studies are supporting this hypothesis, showing that influencer marketing can improve every aspect of a brand’s performance. So it’s only natural that brands have started to prioritize this marketing channel, giving it an important role in their marketing campaigns.
In this post, I’ll share a fact based analysis on how influencer marketing can affect your brand performance. For a quick round-up, scroll down to the infographic at the end of the post that brings all these aspects together.
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How Influencer Marketing Affects Performance
Influencer marketing helps boost multiple aspects of a brand’s performance. Based on an Augure study, 69% of marketers seem to agree with this statement, saying that influencer marketing an effective marketing channel. But how exactly does influencer marketing impact brand performance? Take a look:
- Increases visibility – If you’re planning to raise awareness about your brand, influencer marketing is an excellent choice. About 93% of marketers have found influencer marketing effective for increased brand awareness. Influencers have thousands (and some even millions) of followers. And when an influencer showcases your products or talks about you to their followers, they’re helping you gain visibility. They are also more likely to be trusted by their community.
- Builds loyal customers – Every business needs to earn the loyalty of their customers in order to truly succeed. About 76% of marketers say influencer marketing has helped them build loyal customers. This is not a surprise because influencers can help you build genuine relationships with your target audience, which is essential for earning their loyalty
- Increases conversions – Influencers know how to reach out to an audience and frame messages that will resonate with their followers. They have the ability to present products in a way that will incite a desire to purchase the product. Influencers have already won the trust of their audiences. So their content is often seen as trustworthy. People are compelled to follow an influencer’s product recommendation. This is why 75% of marketers say that they have been able to drive conversions through influencer marketing.
Influencer Marketing Challenges to Look Out For
Although influencer marketing has been proven to be a highly effective marketing channel, there are a few challenges that could get in your way. Watch out for the following challenges and set up a plan to overcome them:
- Finding the right influencer – In the Augure study, 75% of marketers reported encountering the challenge of finding the right influencer partner. Working with someone who does not truly persuade or understand your audience could seriously hinder your efforts.
- Getting the attention of influencers – 69% of marketers reported difficulties in finding the right engagement tactics for their influencer marketing. Influencers have plenty of endorsement offers and it might not be a cakewalk with so much competition. Costs could potentially be driven high because of high competition.
- Measuring campaign performance – Another huge influencer marketing challenge you could face is measuring the performance of your campaign. In fact, 53% of marketers reported experiencing this issue. If you can’t keep track of your campaign performance, you will be unable to determine whether or not you’re making actual progress.
Influencer marketing clearly comes with its fair share of challenges, some of which could prevent you from successfully implementing your own campaign. Even if you prepare for the challenges, you’ll likely make a few mistakes along the way. With strong planning, you can overcome common influencer marketing challenges and recover from your mistakes.
Some ideas to experiment with as you work on an influence marketing strategy could be:
- Use different tools to find the right influencers. These could range from Twitter lists, to niche communities, Klout, LinkedIn pro finder and others
- Start out with a proper goal in mind and also define right metrics that you will track.
- Make yourself aware of the interesting stats, challenges, and solutions of influencer marketing before you begin
All these interesting ideas are curated in this infographic and I hope you will enjoy sharing it with your teams and organizations. Do not forget to share your questions and ideas with me on Twitter or in the comments below!
About Guest Author: Shane Barker is a digital marketing consultant that specializes in sales funnels, targeted traffic and website conversions. He has consulted with Fortune 500 companies, Influencers with digital products, and a number of A-List celebrities.
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