Looking back into the current social media situation, one can really figure out there is a huge influence on people due to influencer marketing. With people always looking up to their role models for opinions, there is a huge potential to expand your business with the same marketing techniques exponentially. In other words, one can even say that these influencers are the new ad campaigns for social media.
What is Influencer Marketing?
When you look up to the business world, every business giant is talking about influencer marketing and the opportunity they put forward for new and booming industries. So, what exactly is influencer marketing? In a more lucid manner, when brands or businesses align themselves with an influencer so that words could spread out about their company, such a marketing strategy is often termed as Influencer marketing.
The idea behind such a strategy is that since these influencers already have a huge fan following, people are most likely to buy the products they are advertising about. And to our surprise, most of the times, this strategy also works.
Influencer Marketing vs. Ad Campaigns
While discussing influencer marketing, you must be wondering how it is different than conventional ad campaigns that run on the social media platform. Studies have also shown that influencer marketing over the past few years has a better capability to draw customers as compared to that of ad campaigns. It is mostly because ad campaigns are diversified and is often shown to the wrong audience. While on the other hand, influencers have their own niche so that brands within the same interest can attract customers who are more likely to buy their products.
Take off instance, an Instagram model advertising about the new shade of lipsticks to her audience of female viewers are most likely to buy the product while on the other hand, if the same brand tries to opt for an ad campaign, it will appear in front of the public which includes a majority of male audience who are most likely not interested in the product.
Effectiveness of Influencer Marketing
While letting the numbers do the talking, 69% of the marketers have reported that influencer marketing has been effective for their business. Among them, 73% has agreed that it helps in a lead generation while 76% in customer loyalty. Here we can get a clear idea that influencer marketing is indeed helpful in expanding your business to a newer audience.
The only downside to it is finding the perfect influencer in the market. Unlike any trend, influencer marketing has been saturated with a tonne of individuals claiming to be influencers. While the people with a huge fan following say 1 Million might charge more than you can invest, and the rest may even result in losing your entire money. So, it completely depends upon you, which influencer suits the best for your business module.
At the end of the day, it all comes down to you whether or not you want to use the influencer market for your business. Looking at the current market situation, it is one of the effective ways to make sure your business gets a good grasp of the huge audience out there. With proper dedication and working with the proper source, one can really prosper with influencer marketing.