This past year, over a billion dollars was spent on unique brand of advertising that is influencer marketing. Influencer marketing has taken a key role in the business world, with various organizations employing the use of digital marketing.
The Return on Investment derived as a result of a push in digital marketing is at the peak level according to the experts at Forbes. Influencer marketing has seen a surge in popularity with many businesses rushing to adopt this radical marketing strategy to increase their profits exponentially.
The following are some of the most effective influencer marketing strategies to employ to build your business and brand:
Do not limit your marketing drive to the use of only celebrity endorsements and other mega and macro influencers. The use of micro-influencers was the key to the significant uptake in the SEO of many a business in the year 2017. Start your marketing from micro influencers and work your way up with a balanced marketing strategy. Every strata of influencers serves a unique purpose- the ability to reach different potential market bases and the geographical reach of your brand appeal is contingent on employing the right influencers.
The use of videos in marketing was a concept that finally became widespread in 2017. Quantifiable research has shown the effectiveness of videos in converting clicks to sales when compared to the use of text. Video marketing has become a mainstay, with around 75% of the traffic on the Worldwide Web, some form of marketing.
Video marketing solves the problem of the bored viewer. Stimulating visuals keep audiences interested and more receptive to your pitch. Videos are also social media friendly, with all the major social networks having video playback capability.
Keep your company’s ROI and KPI in check, as a measure of influencer marketing effectiveness. You must also set realistic and particular goals, your goals must be trackable and not merely abstract. Businesses should also take advantage of the various tools available to track ROI and KPIs.
The use of the biggest market for influencer marketing is a no brainer. The monthly users of Instagram peaked at 800 million users in late 2017 and this figure is trending upwards. Make Instagram your biggest digital marketing investment in order to take full advantage of its potential customer base.
Post captivating media that is capable of keeping audiences hooked to your brand and also increase your follower base. Mediakix stated that the value of influencer marketing on Instagram is $1 billion and is expected to double within a year. Instagram should be utilized aggressively by brands looking to boost sales.
The cost of employing the services of a competent influencer is going to increase as the benefits of influencer marketing become more pronounced. The demand for the best influencers will lead to a competition amongst brands seeking to retain the best influencers, for this reason a bond of loyalty should be created early. Ensure your brand offers a product that is beyond monetary compensation only, rather, create a product that is worth marketing with passion.
Influencer marketing took the business world by storm in 2017. Ensure that your business and brand take advantage of this hugely effective form of digital marketing. The use of influencer marketing will increase both your earnings and your mass appeal.