7 Ways Influencer Marketing Can Help Grow Your Business

Introduction

Influencer marketing is a kind of social media marketing in which a business gets its products or services endorsed/advertised by a social media influencer. In recent years influencer marketing has taken the industry by storm. Soon influencer marketing will take over other forms of conventional and electronic marketing methods. According to a survey, influencer marketing has grown by a third in 2021 compared to its value in 2020

Benefits of Influencer Marketing

There are countless benefits of influencer marketing that other forms lack; some of the major ones are:

1. Brand Awareness

Word of mouth marketing is a proven most efficient way of marketing. According to Nielsen, 92% of the people trust their friend’s words over any other form of marketing. Influencer marketing takes this method to its extreme and increases your brand awareness by many folds.

2. Targeted Audience

One of the biggest edges influencer marketing has over other conventional forms is that you can reach your specific target audience. For example, if your product is a makeup item, you need to find an influencer whose audience is mainly or the influence content is related to your product. 51% of the marketers believe they get better customers from influencer marketing.

3. Consumer trust

When your product is endorsed by a person whose opinion is valued by the audience, they will have more confidence in your product. For example, if a person wants to buy a car, he will watch or read an expert’s review on it, and if the expert recommends the product, they will be more confident in buying it.

4.Longterm Partnerships

Businesses usually sign a long-term deal, and the influencer becomes synonymous with that brand. Some examples are Mr beast’s partnership with honey and David Dobrik’s partnership with SeatGeek, which lead to both brands exploding in popularity. More than 37% of the influencers say they work in long-term partnerships instead of one-offs.

5. Cost-effective

Influencer marketing is the most cost-effective method compared to other conventional marketing methods, including search engines, where you have to bid against the competition, which considerably raises the price. You can deal with the influencer of your choosing one-on-one and agree on a mutually beneficial contract.

6. Sales Increases

Point blank influencer marketing generates sales. Mediakix conducted a study according to which 50% of marketers think the return on investment is higher in the case of influencer marketing as compared to other methods.

7. Suitability

The last benefit of this type of marketing is suitability. You can advertise almost any kind of product and service nowadays, due to a diverse range of content creators. All you have to do is find the one whose followers are consistent with your target audience.

Conclusion

The hardest step in influencer marketing is finding an influencer whose followers are consistent with your target audience. Knowing this most influencers will not be easily swayed. The best option is to reach a long-term mutually beneficial contract with them. Once this happens that influencer will become your brand ambassador and will be a walking advertisement for your product. Influencer marketing is growing day by day, and in today’s highly competitive market, if you can find the right influencer to endorse your product, your business will flourish.