Marketing has become a game of chess, with so many moves available, meaning that modern businesses are now using innovative ways to get themselves heard – from creating online courses of their own to the tech-savvy tactics of PPC advertising. However, there is a newer strand of marketing on the books for contemporary businesses which is in someway a form of affinity marketing. What we are referring to, are influencers.
What Is an Influencer?
The digital age has created lots of new jobs that never existed as little as a decade ago. One of those jobs is held by influencers. These people operate hugely popular social media accounts and provide content to their audience, often by vlogging and taking photos. Their content and personas have enabled them to attract a huge following, and even opened doors for them in other aspects of the entertainment world. An influencer is a modern-day celebrity starring in their own show.
The Benefits of Working with Influencers
Due to these influencers having a large dedicated following, with listeners and readers hanging off their every word, they have unarguable marketing potential. Brands will pay influencers who discuss topics within their industry to review, discuss and promote their products and services.
Most influencers can entice their following into making a purchase by offering them exclusive discount codes, because they listen to their channel or read their content. This also benefits the business, because they can see how many sales came via the influencer’s content. Thus helping to monitor this avenue of marketing performance.
Influencers are a quick way of getting your product seen by not only a mass audience, but, by choosing your influencer wisely, you can find your exact demographic. Other benefits of working with influencers include:
- It doesn’t require any active participation other than contacting them and arranging a deal
- Costs are limited to the fee or commission received by the influencer
- It is a time-saving marketing technique
- Improves brand awareness and establishes trust quickly
Concerns of Working with Influencers
There is no question that working with an influencer can have a monumentally positive effect on business sales. However, the general public and even the most loyal fans of influencers have started to question some influencers – particularly if they were paid to promote some products or services. Ultimately, this suggests that their review or recommendation is ingenuine, and causes a loss of trust in the business and the influencer.
The earnings for influencers can range from free goods to six-figure incomes, which also means the cost of working with an influencer can vary significantly. New startups or businesses struggling will probably not be able to afford those influencers with a considerable audience. Smaller businesses may want to reach out to up-and-coming social media stars and zone in on their demographic to get the most out of influencer marketing – while they may be smaller, they often have a very engaged audience. Think about who your audience is likely to be influenced by, and see if you can link up to boost your brand’s power.