Influence? It is the capacity to have an effect on the behavior, character or development of someone or something on itself. That’s where influencer marketing was born! The influencers started this exercise long back when they wanted to take Instagram to a different level. They used Instagram for promoting and influencing people of their fashion, style, food habits, choice of electronics, etc. That was the time when they were infamous.
2018 showed a stark shift in the increase of the number of budding Instagram bloggers who have now converted to influencers with a bunch of followers. And, now is the time that brands cannot live without influential marketing!
So, Influencer marketing is collaborating with the influencers having a decent number of followers in exchange for the product of the brand. You need to choose the influencers in regards to your niche for your brand promotion and revenue increment.
There’s a thin line between celebrities and influencers. Let’s understand it this way – that a celebrity won’t work and is not affordable for a small brand or a budding brand. That’s when influencers draw their lines. They are very often real-time consumers who have in-depth knowledge of a particular product on the ground level as they have used it. This gives them certain leverage and empowers them to motivate their followers or influence them to take action.
As per the Influencer Marketing Hub, Google received 61,000 search queries for the term “Influencer Marketing” in the year 2018. They also found out that 92% of the respondents considered influencer marketing as effective. And, 63% of people wanted to increase their influencer marketing budget from 2020. All of this is because 82% of businesses believe that the quality of customers from influencer marketing campaigns is better than from other forms of marketing.
Influencer Marketing Case Study of Daniel Wellington
Filip Tysander devised a new strategy to launch his Swedish luxury watch brand in 2011. He chose some relevant influencers on Instagram and gifted them DW watches. He provoked them to put their pictures wearing the watch in their style using a hashtag #DanielWellington.
Tysander chose a platform that was relevant to his target audience (young and creative individuals) – Social Media. He also worked with a lot of micro-influencers to prioritize engagement over-reach.
Through all these activities, he got a boxful of testimonials from real-life users in the form of high-quality user-generated content. Then it gathered the power of word-of-mouth to spread the word and it scaled with the help of influencers. The influencers were also offered with a Promo Code to offer discounts to their followers on buying the watches.
The campaign was a real success and increased about 1 million followers of Daniel Wellington within a year. Now, it’s among the fastest-growing company in Europe with more than 4.6 million followers on Instagram.
The need and want for influencer marketing is there for a few reasons to increase the importance of the brand in the minds of consumers, they are:
Enhances brand awareness
With a lot of followers, they have the capability or the power to increase the exposure to a brand and their awareness. When they recommend or promote a brand, the followers are likely to buy their statements. Collaborating with social media bloggers/ influencers increases your brand visibility as well as attracts their followers to your brand.
Marketing means to have an audience related to your product implying that you have to draw your potential customer’s portrait and know them. Influencer marketing is the only way that directs you directly to your consumer (with the desired consumer profile). The influencer has already done the hard work of knowing the customer. All you need to do is to align your brand guidelines with the choice of the blogger/ model that you are choosing. Say, you have a restaurant, so you have to collaborate with the food bloggers as they have “food” as their niche. They will surely promote your restaurant to the audience that you would like to target, specifically.
Boosts up credibility & trust of the consumers/ followers
The biggest advantage that the influencers have is the trust that their followers have in them. They share the most honest feedback on the products a brand shares with them. This feedback is perceived as a genuine testimony by the followers. It helps in increasing the reputation of the brand and boosts your credibility. In the long run, winning people over digital media helps in creating more and more revenue.
The consumer is really smart these days. They don’t prefer making a purchase until it is backed up by reviews, website research, and a social media presence. Influencers make shopping look way easier for them through their honest reviews and feedbacks. Consumers trust their influencers and they go by their choice or recommendations. As per the Gen.Video study, 33% of the respondents agreed that influencers are their most trusted sources for shopping suggestions. The ROI of this exercise is as high as 650% with proper lead generations, conversions, and sales.
Looks like influencer marketing is winning over the digital realm! The brands now spare more budget for hiring bloggers so as to increase their conversion rates, ROIs, brand reputation, credibility and lead generation. Been inside the digital world, we know how do we make your space among the competitors.