Many brands have learned how to harness the marketing power of working with social influencers, and that trend is expected to grow. According to Entrepreneur, spending on influencer marketing could reach between $5 and $10 billion by 2022.
Influencers are people on various social media channels who have built an audience around themselves and what they say or do on their channel. They can come from any background and are typically not famous, but they’re known well by their followers, which could reach into the millions or billions. Those with less than 10,000 followers are called micro-influencers. They’re seen as more relatable and authentic than larger influencers because they interact with their audience more.
The right partnership with an influencer can give your brand a huge boost. Here are five reasons to start using social influencers.
Influencers are already connecting with your target audience
Consumers are spending a lot of time on social media. Business Insider reported that Instagram reached 1 billion daily users in 2018, which makes it the largest social community aside from YouTube (1.9 billion) and Facebook (2.27 billion).
With so many social channels, it can be hard to know exactly where your audience spends most of their time. Placing ads on the wrong platform can be a waste of resources. That’s where influencers come in. They’ve already attracted a niche audience with shared interests, and if you’ve picked the right influencer to partner with, they’ve already been having a conversation with your potential customers.
Followers trust Influencers over brands
People are more likely to engage with an influencer on social media than they are with a brand. They know a brand is trying to sell a product, but an influencer might be sharing a product because it’s something they use themselves. Business Insider’s Influencer Marketing Report found that the average influencer engagement rate across industry verticals was 5.7%, while the average engagement rate for brands on Instagram alone was between 2% and 3% in 2018.
Consumers try to avoid ads
Pop-up blockers exist for a reason. Customers don’t want to be bombarded by advertisements, and they actively try to avoid them. But influencers allow you to get around that and sell in a more subtle way. By sharing your content or information about your product or service on their channel, influencers help to amplify your reach and drive revenue.
Influencers create and share content
In order to stay relevant, influencers are constantly coming up with new content for their audiences, and they know what keeps these audiences engaged. Allowing them some creative license when promoting your product or service can help make sure your potential customers are paying attention.
Working with influencers is cost-effective
When compared with more traditional methods, such as paid ad placement and celebrity endorsements, influencers are much less expensive, especially if they’re micro-influencers.
Businesses that know how to select and work with influencers can gain up to $18 in earned media value for every dollar spent on influencer marketing, according to a 2019 report published by Influencer Marketing Hub. The report also found that even companies with a mediocre understanding of how to use influencer marketing had an average earned media value of $5.20 per dollar spent.