Influencer marketing drives business with savvy and smart strategies.
As you probably know, influencer marketing is a marketing strategy that uses key experts to drive your brand’s message to the mass or specific target market. Rather than marketing directly to a large group of consumers — you inspire, hire or pay influencers to spread the news about you, your product or brand.
This post talks about popularity, investment and success, objectives, initiatives and mistakes to avoid in influencer marketing.
Here’s how popular influencer marketing has become and will continue to be in 2018:
- 86% of marketers used influencer marketing in 2017, 92% found it to be effective.
- 39% of marketers plan to increase their influencer marketing budgets in 2018.
- Only 5% of respondents plan to decrease their influencer marketing budgets.
- 81% of marketers are using influencer content in other channels, with 51% reporting that it outperforms brand-created content.
Those stats are compliments of the Linqia’ s State of Influencer Marketing Report 2018.
Check out these additional insights on channels and the levels of influencer marketing:
- 92% of marketers cite Instagram as the most important social network for influencer marketing in 2018, followed by Facebook (77%). At 71%, blogs are a close third, up from 48% last year.
- 52% of marketers are planning programs that leverage multiple types of influencers (celebrities, top-tier, bloggers, micro-influencers) as part of an integrated strategy.
- 44% of marketers plan to use influencer content to improve the performance of other digital channels and 36% will integrate influencer content with e-commerce to drive product sales in 2018.
Investment And Success
In 2016, most marketers spent between $25,000 – $50,000 per influencer marketing program, which Linqia reports will double to $50,000 – $100,000 per program in 2017.
So influencer marketing is powerful and isn’t a huge investment bucket, but check out these results for a White Wave campaign for its Silk Almond Milk (for milk!):
- Households exposed to influencer marketing purchased 10% more Silk productsthan the control group.
- Each 1,000 people viewing influencer marketing purchased $285 worth of Silk products over the control group.
- The ROI of the blog posts alone (not including social promotion) is 11X the ROI of banner ads, after 12 months.
In addition to generating revenue, what other objectives can influencer marketing help brands accomplish:
- Create authentic content about a brand.
- Generate authentic, easily discoverable product reviews.
- Generate content cost-effectively.
- Reach younger generations who don’t trust traditional advertising.
- Drive engagement around a product or brand.
- Drive traffic to a website or landing page.
- Grow my email database with qualified consumers.
- Drive online and in-store product sales.
How do brands and companies plan to use influencer marketing in 2018:
- Run influencer marketing programs that leverage multiple types of influencers.
- Use influencer content to improve the performance of other channels Integrating influencer content with ecommerce to drive product sales.
- Shift from one-of, tactical campaign execution to an “always on” influencer strategy.
- Contract with influencers exclusively to be ambassadors for my brand.
- Use AI to improve the performance of our influencer marketing programs.
- Integrate influencers into our CRM and loyalty programs.
- Use celebrities and famous influencers in chatbots.
- Virtual influencer marketing through augmented reality
Mistakes to Avoid
How smart are those marketers and the ones that really succeed are mindful of these seven mistakes that can sabotage influencer marketing success:
- Having no specific business or marketing objectives.
- Being impatient in building knowledge and understanding your audience.
- Anticipating immediate ROI.
- Doing a poor job of choosing the right influencers.
- Concentrating on an influencers’ following vs. engaged followers.
- Resisting a sustaining campaign and only tapping in to influencers when you need them.
- A campaign lacked relevance resonance and even reach.
So how are you planning to use influencer marketing to accomplish your business goals?
Subscribe to our posts via RSS