With social media becoming increasingly prominent in the world, it’s only natural that we are now turning to the immense influence of popular social media users to help encourage others to invest in your company.
This process is called Influencer Marketing. It is one of the best ways to build a solid relationship between your consumers and your brand by using somebody who can adequately influence a large audience on social media. Through their own personal branding, they have established a large social following and have secured trust with the consumers who are potentially interested in your product. By targeting influencers, immersing yourself in their brand and liaising with them, it is possible to reach a wider number of potential consumers whilst simultaneously increasing your retention rate, as it will be a relationship built on trust.
Influencer marketing has been steadily growing thanks to the rise of influential figures in Social Media. These influencers can be found across various social platforms, namely YouTube, Twitter, Instagram and Pinterest. A number of brands have already proved that Influencer Marketing works a charm, with Birchbox teaming up with popular Instagram lifestyle blogger Emily Schuman, who boasts of a neat 380k Instagram followers, leading to a sponsored post reaching over half a million consumers.
Influencers are valuable because of their engagement and connection with consumers. They are a credible source and people trust them because of the familiarity that they are ‘one of us’. It’s been found in a study by McKinsey that when purchasing a product, the retention rate was 37% higher when passed on through word-of-mouth. This proves that there is a sustainable amount of power in influencer marketing.
Finding an influencer who suits your niche/audience is a truly valuable way to encourage your consumers to purchase your product. Implementing Influencer Marketing into your marketing strategy will add another string to your bow, enabling you to establish an important trust between your brand and your desired consumers, leading to an increase in brand awareness.
With many brands queuing up to collaborate with them, it might be about time you did too. If you wish to speak to our Social Media team, we can give you more information on how best to use influencer marketing for your business.
