Why companies should invest in Influencer Marketing?

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The digital world has made its way into the minds & hearts of people due to the content, accessibility, format, and realism.

Social media has become the go-to source of entertainment and information. The content posted on social media is fresh, relevant, and diverse. 

Social media influencers are gaining popularity since they are relatable to the audience. The viewers feel an instant connection with the content and the person because of its realistic nature. The fact that the influencers are not celebrities but ordinary people sharing their daily lives on the medium makes them real & relatable.

Influencers, as the name suggests, are people who possess the ability to influence the purchase behaviour of the audience or create a mass opinion about a brand or product.  

People often rely on these influencers for guidance, analysis, or information about any brand or product. According to research by Nielson, 92% of consumers trust recommendations from friends or family, also known as earned media. 

The research further states that online customer reviews are the second most trusted source of brand information and messaging. It indicates that consumers trust online messages, such as the power of influencer marketing.

Hence, this type of marketing effort helps companies benefit greatly in terms of increased sales.

Advantages of influencer marketing are- 

  • Wider reach – Social media is a tool for mass communication, and influencers can reach a wide audience base. This helps to increase brand awareness and reach. It also helps to increase brand visibility.
  • Trust – Influencers have loyal and trusting viewership and followers. People do not prefer ads. With ad blockers, brands find it difficult to reach their target audience. Influencer marketing is a great medium of expression for brands. Influencers bring trust and a loyal fan base to the table and hence, are more likely to convert to paying customers.
  • Higher ROI – Since earned media have a higher trust factor, brands that invest in collaborations with social media stars observe a higher return on investment. A study suggests that every dollar spent brings $6.5 as an average return on investment.
  • Changing content strategy – It is always a good practice to change the content strategy, revamp the marketing communication and explore new mediums. It helps the brands to stay relevant and maintain a connection with demographically varied audiences.
  • Long-term association – A long-term contract between the brand and the influencer helps the brand to constantly connect with their audience, get unfiltered feedback and have a relied face associated with them.
  • Suitable for all brands – Since the influencers create content on varied topics and enjoy dedicated followers; brands can collaborate with many influencers simultaneously, bringing them wider reach and authenticity. Influencer marketing is a cost-effective way for any small business to reach its target audience.

Rapid word-of-mouth, transparency, and the advantages of earned media make influencer marketing an effective marketing strategy for businesses of any stature to invest. The companies enjoy a higher rate of return on investment, direct connection with their customers, and instant feedback.

The digital marketing universe is undergoing multiple changes. It hence becomes necessary for marketers to constantly update their knowledge and skill set to stay ahead of the competition.

MIT School of Distance Education (MITSDE) understands the current skills gap in the market and strives hard to reduce it. Hence, MITSDE brings you PG Certificate in Digital Marketing (PGCM Digital Marketing)

The course covers the latest concepts & tools in digital marketing and teaches you to analyse data, design campaigns, and create a strong virtual brand.