2019 is the year of influencers where people got impressed by the social media celebrities and were really inspired by their leaders’ products / services and ultimately became brand advocates. So let’s get deep dive into how brands can flourish their business using this enhanced version of brand endorsement and yet ultra-modern strategy i.e. Influencer Marketing.
What is Influencer Marketing?
Influencer marketing use influencers or brand advocates who already have huge fan following of the like-minded people to promote a product organically.
Influencers are the original content creators who already influenced a certain segment of people with their content – whether it’s blog or vlog or video. Now, coming to the brands, Brands are hungry to promote their product to their target audience and hence they find this as a great way of marketing their product to the already aggregated group of potential customers. Brands really find it easier to communicate the benefits of the product / service through the potential customer’s trusted influencers / creators.
People trust people, not automatic robots neither companies and nor advertising agencies. People love to listen to their leaders as these influencers have already positioned themselves as the authorities in their niche industries and therefore people really get inspired by the products / services which their leader use and which ultimately boost sales for the brand associated with the influencer.
How to build your brand in the digital world?
Although there are various tools and techniques through which a small company can become a good brand, the techniques can vary from SEO, PPC, Display, Email, content, videos and what not. Each and every brand wants to use every available marketing strategy but does every strategy provide the same level of trust and value to the customers. Definitely not! The businesses rely on relationships rather than just Ads. And here comes the next level of marketing strategy that use an already established relationship amongst the influencer ( leader ) and followers – A well-established TRUST.
For any business to prosper, it must target its products / services to the right people at the right place and at the right time for communicating the true benefits of the product / service. And building a healthy relationship with the potential customers before selling, relationship will be made by the most important factor i.e. Trust and the product will be sold because of true value.
Influencer marketing gives a solution for trust building between the brands and the buyer personas. Followers already believe and trust their authorities ( leaders ) and when any influencer use / promote any product / service, they are highly impressed with that brand and ultimately use that brands’ product. It just sort of enhanced version of celebrity endorsement where people are biased towards their social media celebrities ( influencers ).
The businesses’ products also rely on the net benefits of the product / service.
If the total number of benefits exceeds the total number of costs then only customer will find the true value of the product / service. So the businesses must focus on the true benefits by designing the solution rather than just the pricing. These benefits should be communicated through right medium at the right time and right people, brands have a great opportunity to communicate the benefits of the products / service through the already established leaders who already have brands’ target audience within very short time which is comparatively short with respect to other forms of marketing that require huge amount of time to build trust and communicating value.
Another aspect for brands to grow their business is relationship. People buy from people. Hence, brands have to establish a great relationship between themselves and their customers for retention and only the delighted customers will ultimately become the advocates of the brands that can skyrocket the sales through word of mouth. Influencer marketing uses word of mouth. People get inspired from other people to use a certain product.
Small brands often associate themselves with the bigger brands and use brand association leverage strategy for attracting new customers. In case of influencer marketing, influencers are brands themselves, they are the celebrities of the modern world. And, companies can use the brand association leverage strategy by associating themselves with the already established brands in the online world ( Influencers )
Influencer marketing statistics by Industry experts
51% Better potential customers are attracted through influencer marketing
$6.5 is achieved by the brands for every $1 they spent
37% of the marketers said that they got great leads through blogs and 25% said thumps up for Facebook and rest from Instagram, YouTube etc.
51% of the marketers are increasing their marketing budget for influencer marketing
Marketers rated influencer marketing as the most trusted source of lead generation ahead of SEO, PPC and Email
22% of the marketers gave thumps up to influencer marketing as the most cost effective online channel
Influencer marketing is doing wonders for brands. It can help your brand grow exponentially and sky rocket your profits in a very short time. So when are you using it to leverage your business.
Grynow is a world class influencer marketing company based in Gurgaon that have helped many small businesses to achieve new heights in terms of return on investment. We have great relationships with diverse set of social media influencers from youtube, instagram, Tik Tok etc. having very niche audiences of their own. Grynow will help you with right influencers to promote your brand’s product / service and can achieve you your desired business goal in short time.