Social media marketing has become a staple tactic in business and brand identification. Recently, businesses have begun producing new and creative ways to outshine their competition online. A new and interesting tactic employed by brands is influencer marketing and collaboration. Companies are using popular internet micro-celebrities to endorse and promote their products on their personal social media accounts to build brand awareness and boost sales. Should your company start using influencer marketing?
The Benefits of Collaborating with Influencers:
There are many advantages to integrating influencer marketing into your social strategy. It is critical that people have faith and confidence in your brand and its products. A benefit of influencer marketing is that the audience will believe that they are buying your goods on the advice of a dependable friend because they trust and respect the influencer. Influencers are masters at producing content that resonates with their target audience, which sets them apart from celebrities endorsing products. These social media stars are cheaper and more accessible than traditional celebrities. Many influencers also create their own unique content for advertisements that are specific to their brand, saving you time, money, and manpower.
This new form of word-of-mouth marketing can expand your brand’s reach and effectively expand your customer base. Influencers are the perfect endorsers for products because their relatable personalities make audiences trust their advice and opinions.
Finding the Right Partners:
Choosing the right influencer(s) can be a tricky task. There are distinct types of influencers based on their following. The most well-known influencers are known as “Macro-Influencers” and may charge higher prices for advertising. These media stars are experts at connecting with their audiences and have the power to persuade large groups. Companies with more funds allocated to marketing typically choose to work with high-profile influencers. If you are looking to connect with a more niche audience and want to limit your investment in social media personalities, then using multiple “micro-influencers” would be the best fit for your brand.
To have a successful partnership, social media marketers should create a personal connection with the influencer. This builds trust between both parties and forms an authentic relationship that will translate into their paid content. Tip: Be cautious about the people you choose to work with. This person will be representing your company, so make sure that their values and reputation align with your brand.
Measuring the Return on Investment (ROI) of Influencer Collaborations:
Marketers understand that the appeal of media stars is growing rapidly. A crucial step of influencer marketing is to assess the impact that these advertising campaigns have had on your business through analytics and data metrics. There are online resources available, such as Google Analytics and other third-party sites, which allow you to review your profitability. It is important to measure your ROI to ensure that influencer marketing is a worthwhile collaboration for your business. Another way to measure the performance of influencer partnerships is by using promo codes. These are online coupon codes that shoppers can enter during the checkout process for a special benefit or discount. Because these codes are unique to each influencer, they can give marketers statistical insight into which advertiser is generating the most sales leads and revenue.
Working with influencers can be costly if companies choose to use multiple influencers or one high-profile social media personality. Measuring the number of profits, they bring into the company can determine whether it is a financially responsible decision to keep working with them.
Companies need a new and innovative way to connect with their audiences and hold their attention. By using influencer marketing, you can appeal directly to the consumer in an entertaining but informative manner.
Are you looking to improve your current social media strategy with new techniques, like influencer marketing? Contact Think Creative Agency today for a wide range of marketing assistance tailored to fit your specific needs.
