June 10, 2020
How Influencer Marketing increases your social media awareness [Infographic]
Influencer marketing is a growing trend in digital marketing world. Brands are investing heavily on Influencer marketing as the results are better than other marketing tactics. We are going to tell you why it is so popular and how it can increase your social media awareness.
What do the stats say?
When it comes to influencer marketing, as you can see in the infographic above, the stats show some amazing results. Let us divide the results in various goals which will help you to justify your influencer marketing efforts:
As you can see 70% of millennial refer to influencers for purchase decisions which show how efficient influencer marketing can be. It is a fact that Word-of-mouth generates twice as many sales as direct advertising. In fact as per Bright Local 88% of people trust other consumer reviews and recommendation by influencers for purchase.
Followers VS Engagement
As you can see people aged 13 to 24 trust influencers with high follower count. We all know that numbers talk! But when it comes to choosing the right influencer for your campaign, engagement is a key factor. An ideal influencer will be one with high following and good engagements who promotes products or services in your niche. Many brands are now going to micro influencers who have lower followers but high engagement. It is good to have a mix of both macro and micro influencers.
As you can see in the above infographic influencer marketing has the fastest customer acquisition compared to other marketing tactic. It is in fact twice faster to acquire customers than organic search. What it means is if you are promoting your product or service with influencers in your particular niche, it is much easier to reach your target market.
There is an average of $7.65 in return for every dollar spent in influencer marketing Some companies are even earning more than $20 for every dollar they spend. It is estimated to be a $10B industry in 2020! If you are primarily in food, apparel and beauty industries, the prospect of influencer marketing is beyond limits.
When it comes to influencer marketing, Instagram has been the top platform for brands to utilize and get positive results. Influencers can bring a good amount of followers and engagement to your account especially if you organize giveaways. YouTube is also a very popular channel for influencer marketing and there is a large population who follow YouTube videos for purchase decisions. Facebook and Twitter have their equal shares of influencer marketing. One of the rising stars to look out and is becoming extremely popular is Tiktok, so definitely try it out!
INFLUENCER MARKETING DO’S AND DON’T’S
In order to arrange a successful influencer marketing campaign, the first thing you need is to find out the right influencers in your industry niche with good following and engagement. You can search manually which is time-taking or check out some influencer databases/networks like Activate or digital marketing brands like Token who can find it for you lot easier. According to Hubspot 48% of marketers working with influencers say audience relationship is the most valuable factor when considering which influencer to collaborate with. Few more things to check are influencer audience, engagement rate, and creativity in photography. Lay out an agreement and make sure to check the analytics at end.
The monetary part of influencer marketing is very tricky as the correct amount depends on the amount of followers and engagement. It is good to check the average market rates beforehand. It is best not to ask influencers to pay for anything and make sure you get the content and rights to reuse in own channels. There is high probability that influencers can refuse for the type of work or remuneration, so it is good to keep a few extra contacts in hand.
WHERE TO START
With these amazing stats, you must be very interested to start your influencer marketing campaign but confused where to start with? Let us help you out. Token has a huge experience in arranging influencer marketing campaigns for brands in multiple industries. We can send you a step by step guide starting for your next influencer marketing campaign covering all the below topics. Just fill up a small form below and let’s get the discussion started.
- How to find influencers
- What to check
- How to employ them
- Setting up guidelines
- Collect analytics
- Closing of deal
This guide can help you with the right tools and techniques to implement a successful influencer marketing campaign! So what are you waiting for? Start filling up the form now!
Hope we are able to show the influence of influencer marketing through this infographic post and the tips will help you get started. For any questions, don’t hesitate to reach out to us at firstname.lastname@example.org. Talk to you soon!