Why is Influencer Marketing the Best Form of Advertising?
Looking back to 20 years ago, (maybe even 10!), and the most popular form of advertising was somewhat traditional. Think TV ads filled with A-list celebs and glossy pages in magazines, and that is what we were used to.
However now, as we move further into 2021, influencer marketing is considered the best form of advertising and for very good reason, too. And with 65% of influencer marketing budgets set to increase throughout this year, it is going to take something special to knock it off the top spot.
So, here a few reasons why influencer marketing is the best form of advertising in 2021.
1. Increases qualified leads
Influencers have spent many years building their audience, turning them into loyal followers. With a knack for building genuine and authentic relationships, they are able to engage with and influence the purchasing decisions of consumers.
Social media comes with the ability to gain detailed insights and analytics, measuring the engagement and interactions between the influencer and their followers.
Insights allow the influencer (and brands they choose to work with) to understand how valuable the content they push out really is. And with an already engaged and interested audience, brands can rest assured that their product or service that is being promoted by an influencer, will generate qualified leads that will convert.
To put it simply, influencer marketing can generate leads that have a much higher chance of turning social media users into customers and converting their engagement into sales.
2. Shared content and assets
Influencers are renowned for their creativity, and this is showcased throughout their social media feeds and online content.
So, when an influencer creates content and mentions a particular brand, product, or service (that isn’t part of their contractual agreement), not only are they receiving free exposure, but the innovative content and praise is also a reflection on the brand, too.
As part of an influencer marketing campaign, it is down to the influencer to create the content, as opposed to an entire creative team that you usually find working on more traditional ads. This can also be much more cost-efficient.
Brands are then able to share this content (with permission) across their own social media platforms and it is a great way to kickstart a long-lasting relationship.
Not only can brands share it, but social media users can, too. And this results in raising brand awareness and expanding reach among potential consumers.
3. Higher return on investment (ROI)
Influencer marketing campaigns allow brands and businesses to better reach their target audience.
It provides brands with the opportunity to be more direct with their advertising campaigns, and whilst influencers often have a large number of followers, it is the ideal way for them to reach their target audience on mass.
89% of marketers say that ROI from influencer marketing is better than, or comparable to other forms of marketing and advertising.
ROI isn’t always measured via sales. It could be as simple increasing brand awareness or growing social media accounts, and it varies for each brand, too.
Ways to measure ROI;
Social media growth
Impressions and online engagement
Expand audience reach
We’ve already touched on this slightly, but influencer marketing is cost-effective. So, for brands, this is what makes influencer marketing the best form of advertising as you really do get more bang for your buck.
Dependent on your budget, you could work with one mega or macro influencer, or a handful of mid-tier or micro influencers - either way, it will almost definitely cost less a billboard or TV ad and will guarantee you some seriously impressive results.
Assess your end goals and what will suit your campaign best and before you know it, you’ll be saving money whilst gaining important insights and garnering the results you’ve always been after.
5. Builds trust
Lastly and quite possibly most importantly, influencer marketing campaigns are able to build trust between the brand, influencer, and consumer in ways that traditional methods just cannot do.
Social media users see the influencers they follow as virtual, online friends. Therefore, they listen to what they say and turn to them for advice and recommendations about a variety of topics.
From parenting and fashion, to beauty, health, and fitness, influencers share their honest and authentic opinions, helping them to forge relationships with their followers.
And naturally, potential consumers go to the profiles of influencers before they make that all-important purchase.
Social media users trust their favourite influencers, making them the perfect tool for a new marketing campaign.
Influencer marketing isn’t going anywhere, at least not anytime soon, so it is down to brands to adapt and make the very most out of this new and impactful means of marketing.
With so many benefits and little to no cons, it really is a no brainer.