As you may know that social media websites are becoming increasingly popular when it comes to online businesses, so much so that social media websites like Instagram, Pinterest, Facebook, and YouTube are being used to look for products online. Social media websites are becoming a new frontier for customer engagement and that can be increased even more with influencer marketing.
But the thing that surprised us the most is that many companies are still not using a tried and tested method of marketing to attract more business into their company, so for all the businesses that do not have the knowledge and the imagination to use influencer marketing to attract their company’s business. Today we are going to be telling you how you can attract more business through influencer marketing, so without further ado, let’s get started.
What Is Influencer Marketing?
Influencer marketing is a strategy that is used to promote a business or a product of some company using social media influencers. The prime benefit of using social media influencers is that it enables your product to reach a vast number of audiences and it allows your brand to build trust amongst the users, grow a social following, improve sales and improve the traffic on your website.
There are a couple of things that have to be taken into account when you decide the influencer that is going to market your product, but if a proper decision has been made regarding the influencer, then there is a high probability that this marketing strategy is going to be fruitful.
How to Choose the Right Influencer?
Choosing the right influencer is the most important step in influencer marketing, because if you are not able to pick the right influencer for your product, then you are going to waste a lot of resources for nothing. Many influencers buy votes to improve their engagement that’s why choosing the right influencer is going to depend on two things. Audience loyalty and engagement ratio.
- Choosing an influencer with a million followers is not the thing that you have to take into account, what you want to look at is the loyalty of the audience, this is necessary because an influencer can have a million followers but when they post some content, they only get a couple of thousand likes, this means that their audience is not loyal. Which is not going to be good for your company.
- The other thing you have to look into is the engagement ratio of the influencer, if the influencer has worked hard to make their following, their engagement ratio is going to be higher than that of a non-organic influencer.
If you have picked an influencer based on those two things than you are probably going to get a profit from your marketing investment.
Why Influencer Marketing?
Let’s look at some of the facts that revolve around influencer marketing.
- 70% of teenagers that are on YouTube, trust the opinions of influencers as compared to traditional celebrities.
- 49% of customers today depend on the opinions and recommendations of their influencers to decide whether they should buy a new product or not.
- If we look at the sales figures, a company earns an average of $5.20 for every $1 they spend on influencer marketing, this adds up to around 1:5 ratio profit.
- 89% of marketers claim that the revenues generated from influencer marketing are comparable to or greater than the other marketing channels that they have invested in.
These are some of the facts that you should take into account when you are deciding on a new marketing strategy for your company.