Do you really need influencers for your brand?
Tue Aug 27 2019
With the recent news of scandals, fraud, and changing landscape in the influencer marketing industry, some speculate that the influencer economy is on its decline.
However, it seems that the end is nowhere near. Recent studies show that influencer marketing still plays an extremely important role in many brands’ strategies. In fact, 69% of marketers rank influencer marketing as a top strategic priority for 2019, and 61% have increased the amount of money they invest in influencer marketing this year. In order to have a competitive edge, your brand needs to work with influencers.
Today, we will break down the basics of influencer marketing, the value influencers provide for brands, and how you can perfectly plan and execute an influencer campaign. Let’s get started.
What is influencer marketing?
If you somehow still haven’t heard about influencer marketing, it is a digital marketing tactic that focuses on working with influential people, or influencers, to drive a brand’s message to a target audience. Combining the idea of celebrity endorsements with modern-day content-driven marketing methods, brands work with influencers to create eye-catching content and effectively reach their highly engaged audiences.
Why does your brand need to work with influencers?
Influencer marketing works for companies of all sizes and across all industries, ranging from categories like beauty and fashion, to travel and tech. This is because influencers — no matter how niche — have built strong relationships with their online audiences and create content that they know will resonate with their followers. Not to mention, influencer-generated content (IGC) earns over 8x the engagement rate of brand-directed content.
In other words, IGC is a powerful tool that brands can leverage to achieve a variety of marketing goals, such as:
- • Growing brand awareness — In today’s digital age, you need to have a big presence on social media for consumers to acknowledge your brand. Since social media influencers already have big followings online, working with them will allow your brand to reach their existing audience and share your message far and wide.
- • Increasing conversions — Influencers help to humanize your brand. Especially because IGC is diverse, people from all walks of life can relate to them. That’s why recommendations from trusted and knowledgeable influencers have 4x the impact on a consumer’s purchasing decision than a regular recommendation!
- • Sourcing content — Influencer partnerships can go beyond just a single social media post. Because IGC is quick and cost-effective to produce, brands can extract even more value out of their collaborations. Influencers act as a one-man creative team and can churn out high-quality content in a matter of days for a fraction of the price of a brand-directed studio shoot. Plus, IGC can be repurposed across all marketing channels, including paid social, email promos, websites, and even offline.
As Frances Lowne, Social Media Strategist at Paula’s Choice, once said, “It’s so important to be playing in the influencer space now, because, honestly, if you don’t have a presence on Instagram, your brand is basically irrelevant.”
What brands use influencer marketing?
If you don’t believe that influencer marketing works, see how these brands transformed their marketing strategy and boosted their business with the help of influencers.
Instagram / @ahliyah.michelle
After facing difficulty creating large amounts of content in-house, Makeup Eraser turned to Instagram influencers and implemented a new ‘always-on’ influencer program. As a result, the beauty brand was able to reduce content creation costs by 90% and produce 10x the amount of content with the same budget.
Then, the brand was able to extract even more value from its influencer partnerships by repurposing IGC on Sephora.com and in Costco stores.
Instagram / @pierre_abena
As an international health food retailer, iHerb needed to create authentic content in over 50 diversified markets — an expensive and time-consuming task for its internal creative team.
So the company outsourced to influencers from all over the world to create engaging content that resonated with each market. With the help of its influencer partners, iHerb was able to generate nearly 600 pieces of content localized for each of its top markets, leading to 35.5 million impressions, 107.3k clicks, and $1.2 million in media value.
Instagram / @hintofgrey
After investing in an influencer marketing platform, Greats was able to scale its influencer program and make data-driven decisions on which creators to further invest in. The footwear brand’s influencers created such amazing content that Greats sold through their entire inventory in under a month — instead of an entire season.
That is the true power of influencers.
How can I build a successful influencer marketing program?
If you’re just starting to dip your toes into influencer marketing, check out our blog post, 5 Free Influencer Marketing Tools to Get You Started, for some basic resources. But if you’re past that stage, we recommend you invest in an influencer marketing platform (IMP) like AspireIQ. Our software offers a direct way for brands and influencers to connect and work together efficiently.
AspireIQ helps brands:
- • Discover targeted influencers at scale in a fraction of the time. This will also help brands find an influencer that aligns with your brand. We even have tools like Audience Demographic Search so that you can pair up with the right influencer every time.
- • Connect with influencers and make long lasting relationships.
- • Manage your influencer relationships and stay organized. Since this is the most complex and time-consuming part of running an influencer program, it can be extremely helpful to use an automated system to avoid missing opportunities or damaging relationships.
- • Analyze and measure your campaign ROI by tracking important metrics such as the number of impressions, engagements, and brand mentions.