Most influencers specialize in a specific industry – whether it’s fashion, technology, fitness, food, or art. There are also lifestyle influencers, who have influence in multiple industries.
Either way, influencers are considered subject matter experts. The people who follow them do so because they’re interested in that specific subject or niche. And the content the influencer produces is relevant to their niche, and therefore their followers.
Another huge benefit of influencer marketing is the level of engagement it helps you generate. Since the audience you reach is highly relevant, there’s a good chance that they’ll be more open to engaging with the influencer’s branded content, and your brand.
If you partner with influencers who excel at engaging others, you’ll end up with even better results. The previous case study also highlighted the massive amount of engagement and impressions. But that’s not just a one-off case. Other companies, like Interac, have been working with influencers to reach and engage a relevant audience.
The Canada-based banking network worked with influential social media influencers, such as Mama Bee, who has 338K followers on Instagram. These influencers posted their experiences using debit or credit cards from Interac.
One of Mama Bee’s posts, which you can see in the screenshot below, has already received more than 12,400 likes.
Benefit #3: You Can Increase Conversions
The campaign has reached more than 8 million people. And the influencers’ posts have gotten more than 670,000 engagements.
Conversions are another crucial metric that businesses use to measure the effectiveness of their marketing campaigns. And one of the main benefits of working with influencers is their ability to drive conversions.
You may be able to increase traffic and leads with another type of marketing campaign. But what’s the point if that traffic doesn’t convert?
Influencers have a major impact on people’s purchase decisions. In fact, Twitter and Annalect found that almost 40% of Twitter users have purchased a product after seeing an influencer tweet about it. The study also found that being exposed to promotional content from both the brand and an influencer can increase purchase intent 5.2 times.
Benefit #4: You Can Maximize Your Marketing ROI
Your return on investment is one of the most crucial metrics to measure for any kind of marketing campaign. And you won’t be disappointed with influencer marketing in this aspect either. TapInfluence reported that influencer marketing delivers a sales ROI that’s 11 times higher than any other digital marketing channel.
The previously-cited Tomoson study also found that for every dollar invested in influencer marketing, businesses earn an average of $6.50. The top 13% were able to generate around $20 for every dollar spent on influencer marketing.
Benefit #5: You Can Save Tons of Money
In addition to all these results, influencer marketing is also cost-effective. In fact, the Tomoson study revealed that it’s the most cost-effective online customer acquisition channel, along with email marketing. So it can be an ideal channel for startups and businesses with budget constraints.
According to an Influence.co analysis, influencers charge an average of $271 for one Instagram post. The charges may differ according to the platform you’re using, and the influencer’s following size. For example, influencers with 1,000-9,999 followers may charge just over $100 for one Instagram post.
The rate usually increases as the audience size increases. Those with 100,000+ followers may charge around $700 for one post.
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