Digital Marketing and the Rise of Influencer Marketing: Why Businesses Are Jumping on Board
Published March 18th 2023
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In the last few years, there has been a dramatic shift in the way businesses market their products and services. No longer is it enough to rely on traditional marketing methods such as television commercials, print ads, and radio spots. With the rise of digital media, businesses are now turning to digital marketing strategies to reach their target markets. And one of the most popular forms of digital marketing is influencer marketing. Here's more about what influencer marketing is, how it differs from other forms of digital marketing, and why more and more businesses are jumping on board.
Simply put, influencer marketing is a type of digital marketing that involves leveraging the influence of popular people or “influencers” to promote a product or service. Influencers are individuals with a large following on social media platforms such as Instagram, YouTube, TikTok and Twitter. By leveraging their influence, businesses are able to reach their target market more effectively than with traditional marketing methods.
Traditional digital marketing involves using various online tools and strategies to reach potential customers. This includes search engine optimization, content marketing, email marketing, paid advertising, and more. Influencer marketing, on the other hand, involves leveraging influencers’ large following in order to directly reach potential customers. It also allows businesses to connect with their potential customers on a more personal level than traditional digital marketing.
So why are so many businesses jumping on board with influencer marketing, and how are they doing it?
It Creates An Instant Connection With Consumers
By leveraging influencers’ large following, businesses are able to instantly connect with potential customers. This connection can be further strengthened by the influencer actively promoting the business’s product or service. By partnering with an influencer, businesses can also benefit from their credibility. Consumers are more likely to trust an influencer than a company. One company that has used influencers effectively is Nike. They have successfully leveraged the influence of popular athletes and influencers to promote their product.
It Can Help Build Brand Awareness
Influencers are often seen as trendsetters and can help to create a buzz around a product or service. By partnering with an influencer, businesses can benefit from the influence of their vast following in order to reach a broader audience and build brand awareness. Creating brand awareness is traditionally a difficult aspect of digital marketing. Many businesses in the past would use tactics such as pay-per-click ads, which can be costly and often ineffective. And measuring brand penetration is tough too. But using influencers creates more obvious and instant benefits for a brand.
It's Real-Time, Cost-Effective Advertising
Influencers can help businesses deliver their message in real-time. This is one of the greatest advantages of influencer marketing when compared to traditional digital marketing methods. With influencers, businesses can get their message out quickly and at a fraction of the cost of traditional advertising. Aside from influencers, digital marketing experts are also looking towards review websites to help show prospective customers real, honest feedback. For example, the company Pawrade has plenty of Pawrade customer reviews that help instill trust in their future customers.
It Can Generate ROI Quickly
Unlike other forms of digital marketing, influencer marketing has the potential to generate ROI quickly. This is because influencers can promote a brand or product directly to their followers, who are likely to be the target market for that product or service. And since influencers are experts in their respective fields, they can help to accurately inform their followers about the product or service, which can lead to more conversions and sales. One company that has reported excellent ROI by using influencers is the beauty brand L’Oreal. Using celebrity influencers such as Rihanna and Blake Lively, the company was able to generate over $1 billion in sales.
It Is Cost Effective
Compared to traditional digital marketing tactics such as pay-per-click ads and SEO, influencer marketing is often much more cost effective. In many cases, businesses can negotiate a deal with an influencer for a set fee. This fee is often much lower than the cost of other digital marketing tactics, and usually results in more impressions, leads, and sales. Additionally, influencers can often provide more one-on-one communication with potential customers than traditional digital marketing methods.
You Can Reach New Markets
By leveraging the influence of an influencer or celebrity, businesses can tap into new markets that they may not have had access to before. Additionally, influencers can help to target the right customers for a particular product or service. For example, if a business is selling baby apparel, they could partner with a mommy influencer who is well known in a particular parenting community. This would give them access to a whole new market that they may not have been able to reach before.
It Allows You to Track Your Results
Unlike other forms of digital marketing, influencer marketing is quite measurable. Platforms such as Instagram and YouTube let businesses track how many people have viewed their posts, how many people have clicked on the link in the post, and how many people have followed the influencer as a result of their post. This allows businesses to easily track ROI and make sure that they are getting the most out of their influencer marketing campaigns.
Overall, influencer marketing is becoming an increasingly popular form of digital marketing for businesses of all sizes. From creating better connections with consumers to generating real ROI quickly, influencer marketing can provide businesses with an effective way to reach and engage their target market. And as the influencer marketing landscape continues to evolve, it’s important for businesses to stay up-to-date on the latest trends and strategies. By leveraging the influence of influencers, businesses can gain a competitive edge and reach new markets, while also staying cost effective. With the right strategies in place, businesses can maximize the potential of influencer marketing and get the most out of their campaigns.