Influencer marketing is all the buzz today.
It is not something new but most companies haven’t yet tapped into its full potential.
Most of them have tested it but they still don’t have a comprehensive strategy for it yet.
What is Influencer Marketing?
Influencer marketing is a type of marketing that establishes long-term relationships (sometimes in the form of payment or an agreed upon reciprocity) with influencers to drive awareness for your brand, highlight your key messages and sell your products and services to a larger audience.
Why Does Influencer Marketing Work?
And there are still plenty of opportunities around influencer marketing because, according to research, it can:
- generate 11 times the return on investment (ROI) of traditional advertising
- 94 percent of marketers find influencer marketing effective
- 90 percent of consumers trust peer recommendations
- 60 percent of consumers consult digital content before considering a purchase
Influencer marketing has become a potent weapon for marketers looking to reach specific audiences.
The Trick is Finding the Right Influencer
The trick with influencer marketing is finding the right partner or influencer to work with. For example, celebrities have a massive reach, however, often their followers are often passive, which leads to low levels of engagement. On the contrary, respected bloggers and niche experts tend to get more substantive engagement.
How Much Does an Influencer Cost?
Influencer marketing also offers an array of pay arrangements. Depending on what sort of deal you work out, you might pay an influencer per post or video, or with trips or free products. Many determine influencer pay based on cost per engagement, cost per click or cost per acquisition.
Influencer Marketing Has Just Begun
Check out this infographic below by One Productions to learn more about influencer marketing.
This infographic was created by One Productions.