Growing up, Influencer marketing was different because of the rules and technology available was also different. We watched our favourite celebrities on TV wearing prominent brands and later we would ask our parents to buy us the same brands we saw on TV, so we could dress like those celebrities. (INFLUENCE!)
What is Influence?
By definition influence is the capacity to have an effect on the character, development, or behaviour of someone or something.
Nowadays, you don’t have to be a celebrity or be on TV in order to influence consumers’ decisions to purchase, thanks to social media.
According to Shane Barker, people trust social influencers way more than fancy advertising campaigns with celebrities. Which explains the reason why brands prefer to use influencer marketing to boost their brand awareness and connect with a larger audience.
However, brands need to plan their social media campaigns properly in order for them to have a positive effect on consumers’ buying behaviour.
There are 5 most important influencer marketing objectives brands should focus on:
- Brand Awareness
- Follower Growth
- Web Traffic
- Direct Sales
Influencer Marketing is an inexpensive way to spread brand awareness when compared to other traditional forms of marketing, simply because it does not require brands to promote directly, which mitigates costs incurred from professional photoshoots.
Instead, brands have turned to influencer marketing to build trust with a targeted audience by leveraging the fact that influencers have large and dedicated audiences who trust their recommendations when making purchase decisions.
In a study done by AspireIQ,
Since influencers are tastemakers in their respective fields, consumers are likely to follow brands that are endorsed by their favourite influencers on social media.
Instagram followers are probably the most engaged consumers, even though they have not yet made a purchase.
According to Hootsuite, top brands on Instagram see a per-follower engagement rate of 4.21%, which is 58x higher than on Facebook and 120x higher than on Twitter
Nowadays, it is easy to ignore traditional forms of marketing such as online adverts, thanks to Adblocker. Marketers are having a tough time since it’s hard to get website traffic through branded content.
Which then means consumers become more receptive of authentic content created by people they relate to.
This enables influencer generated content to be a powerful weapon for influencing consumers’ buying behaviour. In some instances, consumers may not buy immediately after viewing a website but the brand will be embedded in their mind for later consideration.
According to AspireIQ, influencer generated content on social media earns more than 8x the engagement rate in comparison to branded content.
This then creates an opportunity for marketers to source large amounts of inexpensive authentic content for both paid and owned channels.
Which means influencer generated content is more engaging and effective in comparison to professional branded content.
“Influencer generated content is extremely efficient in getting the attention of your target audience. Because followers of influencers have opted to receive their messages and view their content. So, when an influencer talks about your products and services, it is likely to be received better.” Grin
Putting influencers under pressure to create high-quality content which will be aligned with a specific brand.
According to a study by Twitter,
“Brands should come up with campaigns that will benefit both the influencer and their followers (potential customers). The best way to meet this influencer marketing objective is to make use of affiliate marketing and discount codes.
This campaign would involve a custom discount code that can encourage consumers to make a purchase. Brands can also provide their influencers with affiliate links that will help them track sales driven by influencers. Then, they can offer commissions to the influencers for every sale they drive.” Shane Barker
Getting a positive review or mention by a trusted influencer has a great impact in driving consumers to making a purchase.
However, while increased brand awareness, follower growth and content will increase sales in the long run, brands need to invest in a more focused strategy and know exactly what their objectives are for a specific campaign in order to achieve their organizational goals.