What Does Influencer Marketing Do?
You hear about them, and you may see them online, but these conspicuous characters are more than pretty faces and trendy dance videos.
In today’s digital age, influencer marketing continues to be a prominent marketing tool for brands and companies seeking to connect with their target audiences in a credible and meaningful manner. In fact, this industry expanded to a whopping $16.4 billion industry in 2022, according to Influencer Marketing Hub.
What is Influencer Marketing?
Influencer marketing is a form of marketing that involves collaborating with influential individuals to promote a brand, product, service, or experience. Influencers are typically individuals who have established a loyal and engaged following on various social media platforms such as Instagram, YouTube, TikTok, and blogs.
Influencer marketing aims to leverage the influencer’s popularity, credibility, and influence over their audience to promote a brand’s message. Instead of directly advertising to a target audience, brands partner with influencers to create more authentic and candid content that showcases the brand’s products or services in a relatable way.
Influencer marketing often involves the influencer creating sponsored content, which can be product reviews, sponsored posts or videos, or other types of branded content. This content typically includes a disclosure that it is a paid partnership or advertisement.
Is Influencer Marketing Worth It?
Influencer marketing can be worthwhile for brands if they find the right influencers whose audience aligns with their target market. To find the right influencers (or creators), there are various factors to consider such as the brand’s goals, target audience, budget and the specific influencer partnership. Here are some considerations to help evaluate the potential worth of influencer marketing:
If the influencer has a loyal and engaged following that matches the brand’s ideal customer profile, it increases the likelihood of reaching and resonating with the right audience.
When an influencer authentically promotes a product or service they genuinely believe in, it can positively impact the audience’s perception of the brand.
Influencers have the potential to drive engagement, such as likes, comments and shares, which can create buzz around a brand. Moreover, influencer marketing can lead to conversions, whether driving website traffic, generating leads, or increasing sales. Tracking and measuring these metrics is crucial to evaluate the ROI of influencer marketing.
These partnerships can vary in terms of cost. It depends on the influencer’s reach, popularity and engagement rates. It’s essential to assess the potential return on investment (ROI) by comparing the expected benefits, such as increased sales or brand exposure, against the costs of the collaboration.
It’s important to note that influencer marketing is just one component of a comprehensive marketing strategy. Interested in trying it out? As a top Florida digital marketing and public relations agency, BoardroomPR pros are prepared to conduct the proper research and campaign objectives and liaise between influencers and you. To learn how BoardroomPR can assist with influencer marketing, click here.