When was the last time you saw an ad about a product you didn't know and instantly made a purchase? Not so much! Now think about the multiple times you've bought something because someone you follow on social media or YouTube recommended it. Well, you’re not alone as many millennials and Gen Z do the same thing.
Over the years, customers' behaviours have changed drastically compared to what we all know. With endless choices to choose from, smart devices, doorstep delivery within days, and non-stop content on social media, many people are no longer paying attention to traditional marketing.
Many business owners have also noticed this shift and are looking for what to do to gain more loyal customers and give their brands more visibility. The answer is simple- influencer marketing.
Multiple reports have shown that customers now trust the reviews of real people like them compared to ads done by so-called brands. They want authentic recommendations and prefer learning about the products they want to purchase from people they feel connected with.
In this blog, Unify Wizards will break down the meaning of influencer marketing, its importance in growing your revenue and how best to use it to your advantage as a bungee owner.
What is Influencer Marketing?
Influencer marketing is a digital marketing strategy that businesses use to promote their products and services. They do this by partnering with social media influencers with a lot of engaging audiences that brands can use to build credibility and increase their sales. The main goal of influencer marketing was created for influencers to work with brands to help promote their products or services.
Influencers, in simple words, are popularly known as social media personalities with thousands of followers who have the ability to influence the way they see and buy products or services. They usually have a particular niche and build trustworthy relationships with their audience. Influencers have the skill to create content that their audience will love, making them perfect for increasing brand visibility and gaining customers' trust.
What is the Difference Between Influencers and Content Creators?
Content creators are known for creating unique and valuable content to make money, build an audience, or share their talents online. Influencers, on the other hand, mainly focus on posting sponsored content for money and popularity.
Let us elaborate on their differences for better understanding.
Content Creators
- Focus: They create original content inspired by their expertise and field in the form of blogs, videos, and graphics.
- Main Goal: Talk about their expertise, and share knowledge for their audience.
- Examples: Bloggers, vloggers, podcasters, graphic designers, writers.
- Content Style: They are full of educational, informative, tutorials and guides that focus on their expertise.
- Monetization: Through ad revenue, licensing, and freelancing.
Influencers
- Focus: Having loyal customers and creating engagement.
- Main Goal: Influence the opinion of their audience and loyal followers to take action while promoting products, services or brands.
- Examples: Instagram lifestyle influencers, TikTok personalities
- Content: Relative and personal that also contains sponsored posts, product reviews and brand collaborations.
- Monetization: Through sponsorships, brand deals, affiliate marketing.
Different Types of Influencer Marketing Collaboration
Discount Codes and Affiliate Marketing
Brands always use this social media marketing to attract more customers and increase their sales. These discount codes are often too good to refuse and encourage consumers to purchase immediately.
Affiliate marketing is when an influencer receives a commission on all the sales made through their content and influence. This type of collaboration encourages influencers to actively promote the product and is the best way to track ROI in Influencer Marketing.
Competitions and Giveaways
These influencer campaigns are used when brands need more visibility or want to introduce their target audience to a new product. This is achieved by making the influencer announce a competition or giveaway on their page and the brand product will be the centre of it all. It can also be used to boost the brand's social media following and capture consumer data.
Long-Term Partnership
Long-term partnership with an influencer is when brands make influencers the face of their brand for a period of time. This can range from one year to five years and there is no difference between the traditional marketing strategy where a brand connects its name and image to a well-known personality.
Sponsored Post
A sponsored post is simply when an influence is paid to create content with a brand’s product or service. Influencers usually add a disclaimer when sharing this content to let their followers know it is a paid partnership.
This type of online marketing is effective because it seamlessly blends into the influencer's regular content. With this strategy, brands have better visibility to larger audiences while taking advantage of the influencer's unique voice and style.
How Influencer Marketing Benefits Brands
Increased Brand Awareness
Influencers are known for having loyal audiences who always believe their recommendations are the most useful. Therefore, brands collaborate with them to boost their visibility and gain the trust of their target customers. Social media influencers give brands access to new demography and millions of new followers that can be achieved within a short period of time on their own.
Improved Credibility and Trust
According to statistics, many customers find it difficult to trust brands' claims about their products or services. They also believe influencers make them feel seen and heard when compared to traditional advertisements. That is why many brands are now working with influencers to build credibility and increase their sales.
Provide Authentic Campaigns
The goal of using influencer marketing is to drive authenticity when compared to traditional marketing campaigns. Influencers introduce products or services to their followers in a more personal, and genuine manner that shows they have tested them. Brands also have the opportunity to decide every detail of the campaign or allow the influencer to use their creativity and voice that they know will resonate better with their audience.
Drives Conversions and Sales
According to many studies, consumers are likely to buy a product because their favourite influencer recommended it. This shows influencers can convince their audience to take action, driving sales for the brand. They also create a sense of urgency and fear of missing out, especially with offers or exclusive discounts to make their followers buy impulsively, thereby increasing conversions.
Makes Your Brand Relatable
Brands must be relatable if they want their target audience to build relationships and loyalty. Instead of just a logo or a corporate voice, every customer wants a brand with a face they can relate to. This creates emotional connections and makes your brand feel more approachable and value the interests of its customers.
For example: When influencers share their journey with your product, behind-the-scenes experiences, and how the product transforms their lives, it gives your brand depth and personality.
The Key Takeaways
Influencer marketing is a strategy where brands use influencers to bring awareness and promote their products or services.
According to reports, more than 70% of brands globally are using influencers to increase their visibility and credibility online
Carrying out an influencer campaign for your brand can be what will introduce your business to the right customers.
Are you finding it tough to partner with the right influencers for your business? Let Unify Wizards connect you with the top social media influencers, vloggers and creators who will skyrocket your brand's visibility and convert their audience to paying customers.