Influencer marketing focuses on using key leaders to drive your brand’s message to the market. Rather than marketing directly to this large group, you instead hire or pay these influencers to inspire and get the word out for you.
According to McKinsey, Influencer Marketing generates double the sales of paid advertising, as well as three times the amount of “word of mouth” messages. Furthermore, it results in recommendations – where people are up to fifty times more likely to purchase.
Influencer marketing could benefit your business in a number of ways, and you should consider using it because:
- It’s more authentic than an advert.
- It’s more cost effective than many other marketing channels.
- It provides shareable content, which could amplify results exponentially.
- You can effectively target a new audience.
- It’s a way to create real-time engagement.
- It’s an easy way to build trust with your customers and future customers.
Two cases come to mind where Influencer marketing benefited the business and the influencer, such as Youtube star PewDiePie teaming up with the makers of horror film ‘As Above, So Below’ – creating a number of videos in which he completed challenges and tasks set in the catacombs in which the film was set. This resonated with his then 27 Million subscribers, and received nearly double the views that the trailer for the film did.
The other, according to Neoreach, is American retail giant Walmart teaming up with former Vine star Meghan McCarthy. Meghan posted on Snapchat, Instagram, Twitter and Youtube, putting her stamp of approval on the promotion that she was promoting. Her posts gathered hundreds of follow up posts and tweets, an impact that no television ad campaign could make.
The Big Influencers for 2018
According to Forbes, some of the top influencers of 2017 are going to be even bigger in 2018.
If the budget is there, then these are the kind of people that you want influencing customers to buy into your product or brand.
These include gaming maestro Markiplier, Keynote speaker and entrepreneur Gary Vaynerchuk, cooking whiz Rosanna Pansino, six-year-old Ryan ToysReview and powerful lady Lilly Singh.
Whilst all of these people have the majority of their following on YouTube, they are also influencers on the likes of Instagram and Facebook and could cost a hefty sum.
Some of these people may be out of your price range, but if you can find a local influencer to promote your product, then that may be worthwhile to your business.
MSc Digital Marketing Management Student (Full Time)