With the growth of social media platforms, the demand for influencer marketing has sky-rocketed in the past year, and is set to double.
Over 63% of marketers have specifically set aside and increased budgets for influencer marketing by the end of 2017. Now why has influencer marketing seen such a huge spike in investment from brands and clients ?
Here are just some of the reasons.
Influencers have acquired the ability to attract their audience through their true nature. They express themselves through the authentic storytelling of their content (a brand), which is what their follows look for in an influencer and is what marketers agree to be the biggest benefit of influencer marketing. Being able to relate to them and connect with them through a social media platform is what allows them to build a genuine and loyal follower base over time. According to a recent study, close to 71.2% of influencers believe that their honesty and sense of humour is what actually keeps their audience consistently engaged.
This authenticity is what keeps an audience consistently engaged when it comes to promotional content created by influencers, rather than the traditional ads plastered across magazines and billboards which does not receive much response. An engaged audience is also much easier for brands to win over and convert to loyal and paying customers over time as the trust and relationships are built alongside.
Influencer marketing allows for brands to target a specific audience that their product caters to, through the selection of the influencers for their campaigns. If a brand choses an influencer from a specific niche, the influencer’s follower’s will much likely have interest in the brand or the product as they share more or less the similar interests in the field.
With influencer marketing, clients are able to look through a range of potential KPIs for their campaigns and choose the ones they feel are best suited to represent the brand. For example at Indie Collaborates, we offer clients a wide range of influencers from our community list, fit for any brief that is given to us, be it fashion, beauty, travel, photography, tech, general lifestyle.
Influencers also have the ability to improve the sentiment of the brand as opposed to traditional advertising and PR efforts. Influencers take the time to gradually build themselves up on a social media platform and earn their followers with their engagements. They take the time to engage with their audience and thus, their followers feel connected to them and are able to relate with them on a more genuine level.
Therefore with their prolonged efforts, they built trust with their followers over the years and form a a connection with them which is more genuine as compared to a campaign represented by a huge celebrity that most audiences are not able to relate to in any way, and is clear reflection of a purely paid advertisement.
Another major benefit to influencer marketing is the return on investment it is able to yield. It has been researched that influencer marketing generates 11 times the ROI generated from traditional methods. More than half of marketers turn to influencer marketing to grow their social media following and engagement, as well as driving traffic to their official websites.
Other than that, 71% of marketers in the feel that influencer marketing helps them to raise their brand awareness on social media platforms, with 67% agreeing it helps them reach a more targeted audience. But these are not the only reasons why brands are leveraging influencers for their marketing campaigns.
The RhythmOne study found that influencer marketing delivers high returns in terms of earned media value. This is the value attributed to factors such as social sharing and publicity as well as other forms of organic digital media exposure. In Singapore, influencer marketing helped advertisers generates $6.85 in EMV for every dollar spent.
Influencer marketing is also a much more cost effective alternative as opposed to traditional forms of marketing and advertising, which could typically come up to hundreds of thousands of dollars. Yes it will be posted on massive billboards in the CBD area and will be present at every MRT and bus stop, but does it really drive traffic?
With influencer marketing, you have the advantage of being able to track the progress of your campaigns and analyse the best methods to reach your targeted audience. This allows your clients to be informed of where theirs costs get into, how much
At Indie Collaborates, we provide statistical reports after each campaign and measure the it’s progress. We also provide packages for clients looking to take on multiple influencers for campaigns at our special in-house promotions. Leave your next campaign to us let us deliver a smooth and efficient campaign with our streamlined services and profound knowledge of the influencer scene in Singapore.