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Think of influencer marketing as the Wild West or, dare we say, the wild child of marketing. For many, it’s new and uncharted territory — but for brands that have taken the leap, they’re seeing significant results from their influencer relationships.
The biggest challenge is that unlike other marketing methods, brands never really know what to expect when it comes to costs. There’s a simple reason for this: the entire show is run by independent bloggers and other influencers who set their own rates as they see fit. Some overcharge, some undercharge, and if us marketers are lucky, many get it just right.
But no matter how you slice the influencer marketing pie, one thing remains true: influencer marketing is a kick-butt way to advertise.
While it can feel like you’re drowning in the murky waters as you try to navigate these influencer relationships, they can yield real results when managed right. Gaining awareness, pushing product out the door and increasing sales, finding long-term customers, changing brand perceptions, and increasing page rank are just a few of the MANY benefits. Check out this infographic for these and other influencer marketing insights.
Influencers build trust
To date, blogs are found to be the third most influential source for making purchase decisions. Customers visit blogs daily, not just for inspiration but for validation and ideas on what to buy. After all, their favorite bloggers know best. And that’s where trust comes into play. A branded message just doesn’t do it for customers anymore; they want to get the information straight, unbiased and from real experiences. A surprising 92 percent of customers now find recommendations from other people, even those they don’t know, more trustworthy than brand messaging. Yowzers!
Influencers boost conversions
As if that’s not enough reason to test out influencer marketing, sharing your content through influencers in your industry can increase your conversion rate by up to 10 times. Armed with these stats, brands are catching on and are adding influencer relationships to their marketing arsenal quicker than their customers can click ‘like’ on their latest Instagram. In fact, 65 percent of brands are now participating in influencer marketing.
Whether you’re a B2B company offering cloud software or a fashion brand with clothes to push out of online carts, influencers exist in EVERY industry (see infographic). Ready to jump-start your influencer marketing program? Check out this article to help you get started.