Influencer marketing is when a brand collaborates with a social media persona to advertise a specific product or service.
Once considered a fringe method of advertising, influencer marketing is booming right now. Millions of customers are turning to trusted influencers for recommendations on everything from world travel to professional therapy.
In 2021 alone, influencer marketing grew into a $13.8 billion dollar industry, soaring past it’s previous year’s record of $9.7 billion.
Here are five things you need to know about influencer marketing, and how brand partnerships can help grow your audience and drive sales in 2022.
1. 93% of Businesses Have Used Influencer Marketing
If you think influencer marketing is the unlikely exception to a successful marketing strategy, think again: just 7% of businesses with an online presence have declined to hire an influencer for some part of a digital marketing campaign.
With massive online followings in the fashion industry, followed by lifestyle, beauty, and food, there truly is room for every kind of business to find and collaborate with a seasoned social media guru who embodies the essence of their product.
2. Influencer Marketing is Successful Because It Hinges On Authenticity
Customers purchase products from brands they trust. It’s as simple as that.
Influencer marketing works because it leverages the trust customers already have in established names, and piggybacks off of it. With 42% of the population now reporting the daily use of ad-blocking software, your customer base may never even see your paid advertisements unless they come from the account of an influencer they already follow.
Get this: 82% of social media users say they use brand collaborations online to help them make purchasing decisions, and 49% of all social media users have made a purchase based on something they saw on the web.
3. Micro-Influencers Are the Next Wave of Influencer Marketing
Don’t have a $10,000 budget to shell out on influencer marketing campaigns? That’s okay.
Along with the rise of influencer-led ads dominating customer’s feeds, micro-influencers are seeing a rapid increase in customer conversion when used for smaller brand partnerships.
Defined as anyone with a follower count ranging from 10,000 – 50,000, micro-influencers may not have as wide of a digital reach as their celebrity counterparts — but their impact on audiences can’t be denied.
Due to their lower pay scale and audience reach, brands can utilize multiple micro-influencers at one time. On average, a micro-influencer can command between $100 – $1,000 a post. However, macro-influencers can run upwards of $10,000.
4. When It Comes to Performance Metrics, Influencer Content Wins Every Time
According to MediaKit, 60% of customers shared that user-generated content (aka, influencers) performed better than marketing done directly through their brand. This includes online ad campaigns, social media posts, and email blasts.
The data is undeniable: customers want to engage with real people. They feel a sense of connection when making a purchase. What’s more, micro-influencers command an average of 3.8% engagement rate, compared to macro-influencers with just 1.2%.
5. Influencer Campaigns Built On Diversity Will Flourish in 2022
When a brand embraces diverse influencer marketing, they broaden their reach. They include people that are frequently left out of traditional paid marketing campaigns.
Two reasons diversity is an asset when investing in influencer marketing:
- Diversity increases your relatability. In 2021, 32% of customers who purchased from an influencer’s ad did so because they believed the person looked like, sounded like, or represented their lifestyle.
- Diversity helps you stand out from the online crowd. Your products will quickly get lost in the online static. That is unless your advertising contains individuals who visually mirror your ideal customer.
In the end, hiring an influencer to market your product or service isn’t enough. Take the time to tap into your audience, their needs, and their lifestyles. Additionally, forge a connection with a trusted influencer. One who will create a lasting inroad to your ideal buyer.
At Goalpost Group, we help our clients break the cycle of bad marketing using strategy, structure, and killer content that drives sales and wins the day. Get in touch with a member of our team to learn more about how we can help transform your marketing.