If you’re looking at influencers it means that you have either heard of the success others have had, or you are looking for better ROI than you are currently getting on your marketing spend.
Let’s take a quick look at digital marketing mix:
- Display advertising
- Social media marketing
- Search marketing
- Affiliate marketing
- Email marketing
- Content marketing
- Influencer marketing
Most of these channels are established, with content marketing being the exception as it is the newest, outside of influencer marketing. ROI on these channels is both known and in many cases declining. Rather than continuing to invest in channels that are not delivering, brands are looking for new and better options.
Marketing technology companies are emerging with content and now influencer marketing solutions. These new approaches are delivering better results, with influencer marketing providing 11x the ROI of digital advertising.
So why use social influencers?
The answer is that because consumers are looking to other consumers for buying advice. The days of brands owning both the messaging and the distribution channels are gone.
Social media has forever levelled the playing field. Consumers now have the same reach, and in many cases a larger reach, than the brands they buy. Influencers are also considered more trustworthy and authentic, because they started out by writing, filming and sharing their thoughts and ideas as a way to connect with other like minded people, not to sell products.
We are in the age of consumer-to-consumer marketing, in part, brand messaging has lost the trust of the masses. In a 2015 poll, Ipsos found that marketing and advertising is dead in integrity, coming in at just 4% below even Congress at 6%.
No matter how great the content that a brand produces is (e.g. consumer focused), it will be met with skepticism. Using influencers is a way for brands to rebuild that trust.
Influencer marketing is now a firmly established marketing channel with best practices, supporting industry research and a plethora of case studies demonstrating impressive results. Influencers are now entrepreneurs, who have created a new “influence economy.”
If it’s your first time working with them, I recommend using HypeFactory.com to make the experience efficient for you and to raise the level of ROI you can achieve in your first campaign.