We have written several pieces on the power of influencer marketing and the need to have it as part of your marketing mix, if you are looking to sell a product to consumers these days. Our position on the topic has only strengthened over time, and we once again encourage all readers to really consider the potential and to get into the game.
Don’t get caught up in semantics, and most certainly don’t be stubborn about being anti-pay to play engagements with micro influencers. Some brands we speak with feel they are a vanity play and don’t drive real results. We would argue the exact opposite, as the data points to these types of engagements being real KPI winners. You have to be smart about who you engage with, what the goal is and the metrics for success should be outlined up front of course. This is true for any marketing tactic though.
As other digital advertising becomes more competitive and intrusive it is very important to find new ways to penetrate and create awareness for your products or services. Influencers (especially the good ones) provide an entree to captive audiences who trust their marketing messages and endorsements. You must seek out the right partners and capitalize on these opportunities.
TapInfluence put out this compelling report, that highlights some telling statistics and is worth a download. Here are some that they collected and posted on their website:
Influencer marketing content delivers 11X higher ROI than traditional forms of digital marketing. (TapInfluence study with Nielsen Catalina Solutions, 2016)
Twitter users report a 5.2X increase in purchase intent when exposed to promotional content from influencers. (Twitter and Annalect, 2016)
74% of people turn to social networks for guidance on purchase decisions. (Ogilvy Cannes, 2014)
40% of people say they’ve purchased an item online after seeing it used by an influencer on Instagram, Twitter, Vine, or YouTube (Twitter and Annalect, 2016)
49% of people say they rely on recommendations from influencers when making purchase decisions. (Twitter and Annalect, 2016)
73% of Millennials see it as their responsibility to guide friends, peers, and family toward smart purchase decisions. (Fleishman-Hillard PR & Hearst Magazine)
71% of marketers believe that ongoing ambassadorships are the most effective form of influencer marketing. (TapInfluence & Altimeter, June 2016,)
These stats jump off the page and should make it pretty clear that this is a frontier that needs to be in the mix. Influencer collaborations drive real business results and cannot be ignored. In the end of the day they are just people with a POV and a captive audience that seems to care about what they have to say, and takes direction when they give advice. Perhaps I just influenced you to get started? Case in point…