Influencers have ascended to lofty heights in modern society thanks to the rapid spread of social media. Unsurprisingly, marketers and brands have worked hard to capitalize on the attention these internet icons command, giving rise to a whole new field of marketing.
Make no mistake, influencer marketing is more than just hype. Not convinced? Consider that 92% of consumers trust influencers more than advertising or celebrity endorsements, or that the vast majority of younger consumers say social media influences their shopping habits.
Influencers aren’t just trendsetters. They offer a level of authenticity that brand messaging and celebrity endorsements simply can’t match. Influencers know how to communicate with their audiences in a way that builds trust and inspires action — no wonder they’re in such high demand.
Advantage of partnering with a social media influencer
Influencers create content that is entertaining, informative, and inspiring. Think about the large number of influencers who have built their online brands around beauty and wellness content. People trust them to provide expert tips on skincare routines, makeup application, gym workouts, and countless other topics. Because of this, nearly 60% of beauty and wellness brands have harnessed the power of influencer marketing.
It can be expensive, though. Some influencers accumulate millions of followers as a result of their unique content, and they command a price premium in exchange for advertising brands to their massive audiences. For instance, beauty influencer Huda Kattan charges about $91,000 per sponsored post for her 39.9 million Instagram followers.
The good news is that you can also benefit from micro-influencers with smaller followings. These individuals usually occupy niche spaces with intensely loyal audiences, making them even more desirable from a targeted advertising standpoint. In fact, 82% of consumers say they’re likely to choose products recommended by micro-influencers. Respected influencers exist in nearly every niche, and working with them allows you to tap into an audience you couldn’t access otherwise.
By utilizing influencer marketing, you increase awareness and exposure of your brand. The e-commerce space is saturated with millions of online stores. Influencers can distinguish your business from others and help you monetize product content. Eventually, you’ll have mutually beneficial relationships with influencers that encourage a culture of engagement.
No matter what you’re selling — whether technology, legal services, or food — chances are good that you’ll be able to find a brand advocate in your space. If you are a recurring revenue business and you’re not working with an influencer, then you’re missing out on a particularly valuable opportunity. Here’s why:
Influencers know your audience.
Influencers acquire an incredible amount of trust that’s difficult to beat, but brands can utilize this by investing in influencer marketing. Four out of 10 Millennial YouTube channel subscribers say that their favorite creator knows them better than their own friends. This means a positive YouTube review of your product may be even more valuable than the old gold standard: word-of-mouth recommendations.
Influencer marketing can amplify your content engagement.
When you work with influencers, you build a content generation strategy. Affable brand-influencer relationships can lead to opportunities to repost your partner’s content on your social media channels or website. With fresh content hitting your digital properties, you’ll enjoy more frequent site indexing by search engines. You have a chance to gain higher rankings depending on the quality and engagement rates of your content.
Influencers can become part of your brand voice.
Because influencer marketing has exploded, it’s possible to find the perfect brand representatives. Finding them may take time, but the right fits will effortlessly and effectively become extensions of your brand’s voice. For example, beauty brand Glossier saw potential in their engaged fan community. Now, hundreds of fans are formal representatives that endorse Glossier’s products to an even larger audience. In exchange, ambassadors receive free or discounted access to the products they love, creating a win-win.
Influencers are having a tremendous impact on every industry, but there’s especially exciting potential in the recurring revenue and subscription box spaces. It’s easy to see the significant overlap between the demographics that follow influencers and those that crave subscription box products. Direct-to-consumer businesses have a lot to gain from targeting influencers’ large and loyal audiences.