Running a business isn’t exactly a walk in the park. With over 359 million companies vying for attention, it feels like every market is more crowded by the minute. 

It’s no wonder that many businesses struggle to keep up and some (20%) fail. Not because they lack a great product or service, but because their marketing strategies don’t quite hit the mark. 

The old advertising methods often feel impersonal and, frankly speaking, outdated. 

However, influencer marketing, though not a brand-new concept, makes up for a reliable strategy to promote your business without sounding salesy. 

Stick around as we discuss why this strategy works and how you can use it to build a loyal customer base. 

What Is Influencer Marketing?

Influencer marketing is a strategy in which brands collaborate with individuals with a massive following on social media or other online platforms. These influencers use their credibility to promote your products or services to their audience. 

This form of marketing is based on trust. Say you come across a new skincare product from a random brand ad. You’ll likely scroll past without a second thought. 

However, if you see someone like Emma Chamberlain or Huda Kattan endorsing it, it might suddenly grab your attention. Why? Because you trust them. You see them as credible personalities, which encourages you to give that product a try. 

The same principle applies to your audience. They’re more likely to engage with recommendations from influencers they admire. 

Research highlights that “influencer marketing has great potential to provide significant benefits to SMEs in their endeavors to reach their target market, expand brand awareness, and increase sales.”

Why Invest In Influencer Marketing?

Marketing always comes with a price tag, and as a business owner, you would naturally want to know that every dollar is well spent. After all, you want your marketing efforts to hit the right notes and deliver results. 

Increased Brand Awareness

No matter how good your brand message is, if no one’s listening, it’s all for naught. Unfortunately, traditional ads often blend in the background, leaving you with a hefty bill and not much to show for it. 

This is where influencer marketing for business shines. Influencers have an established follower base that trusts their opinions and sees them as authentic voices (not just salespeople). 

Say, for instance, you intend to launch a new healthcare product. Instead of spending a fortune on generic ads, you can partner with someone like Sarah Day. 

When Sarah shares your product in her video, her followers see it as a trusted endorsement rather than a sales pitch. The result? You get the reach, and she gets a free product (or pay). 

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Authentic Engagement 

Traditional marketing often struggles to break through the noise and, worse, leaves people feeling overwhelmed. In fact, according to INC, 96% of consumers do not trust advertising. This implies that paid ads are unlikely to engage your audience. 

However, when influencers talk about your brand in the context of their everyday life, they create a sense of trust that traditional ads simply can’t match. Their followers view these endorsements as personal recommendations rather than generic pitches. 

It makes them go from “Never tried it before” to “If you liked it, there must be something good about it. I’ll give this a try, too. Thank you for introducing me to the product.” 

This translates into meaningful interaction that leads to stronger brand loyalty. 

Targeted Reach

Marketing to the masses is no different from throwing a wide net into the ocean and expecting to catch something. Plus, you never know you’ll find exactly what you’re after. 

With influencer marketing, though, you’re not casting a wide net but fishing in precisely the right spot where you know the catch will be valuable. 

Influencers have carefully cultivated followings that align with specific interests and lifestyles. This means when you partner with an influencer, you’re reaching a large audience and the ‘right’ audience. 

You end up promoting your product/services in front of people who are already interested in what you have to offer. Could there be a better way to make marketing work? 

Creative Content 

One standout benefit of influencer marketing for business is the incredible creativity influencers bring to the table. They are content creators at the core - they thrive on producing engaging, visually stunning, and highly shareable content. 

This creative spark sets influencer marketing apart from traditional, often formulaic, advertising methods. 

Take an influencer like Zach King, known for his mind-bending magic tricks and short films. 

Now, think for a moment. A tech company introduces its new product in a straightforward demo. However, if they collaborate with Zach, he’ll end up creating a mesmerizing video (just like he usually does) where the gadget appears out of thin air, like one of his signature illusions. This way, his followers are being entertained and intrigued by something truly creative while your product gets promoted. 

So naturally, Zach’s video would inspire many to check out your product. 

Cost Effective 

Compared to traditional advertising campaigns, which can drain resources quickly, influencer marketing strategy offers a cost-effective approach that often delivers a higher return on investment. 

One of the reasons it’s so budget-friendly is the flexibility it offers. If you’re tight on budget, you don’t have to partner with mega-celebrities to see success. Micro-influencers - those with smaller but highly engaged followings - can effectively reach niche audiences. 

In fact, the American Marketing Association (AMA) also mentions that “Nano-influencers, with a smaller following, are more cost-effective in revenue generation compared to their macro counterparts.”

They charge less, but their close-knit communities drive higher conversion rates. 

How to Use Influencer Marketing for Business Growth

Recent influencer marketing statistics show this strategy will experience a 9.91% annual growth rate, resulting in an estimated US $56.28 billion market value by 2029. 

Given its endless benefits, businesses are increasingly investing in it, but to make the most of it, you need to follow a strategic approach. 

Choose the Right Influencers for Your Audience

You can’t just pick someone with a large following. Instead, you need to find someone who resonates with your target audience - relevance is key here. An influencer’s audience should overlap with your own. This will ensure that their followers are potential customers for your brand.

Start by considering what your brand stands for and what your ideal customer looks like. If you’re a brand selling high-end, minimalist home decor, you’d want to collaborate with influencers who have a sophisticated aesthetic and an audience that appreciates design and quality (think someone like Chris Loves Julia, a popular home renovation and design blog). 

Besides, you must also ensure they carry your values and voice. Go for influencers who share your brand’s ethos to build meaningful connections with their audience (visiting your brand).

Use Different Strategies for a Successful Collaboration 

Getting the most out of influencer marketing isn’t about cutting a check and calling it a day. You need to employ a variety of strategies that go beyond the basics. 

• Gift products. Giving gifts is among the most popular influencer marketing trends. In fact, research shows that it is considered superior to paid influencer marketing. This strategy offers an opportunity for the influencer to experience what you’re offering without any strings attached. If they genuinely like what they try, they’ll share it with their followers in a natural, unforced way. 
• Sponsored content. Collaborate with an influencer to create a video featuring your product. Let them style it, wear it, and show how it fits into their daily routine. This makes the promotion feel like a genuine recommendation. 
• Giveaways and contests. Who doesn’t love winning something? Partner with influencers to host a giveaway among their audience. This will stir up excitement and get people talking about your brand. 
• Co-Creation. Take things up a notch by co-creating content or even products with influencers. For instance, if you’re a tech company, you could work with a tech influencer to co-create a series of tutorials or even design a limited-edition gadget. Besides creating buzz, this strategy will make the influencer feel personally connected to your brand.

Try Varied Social Media Platforms

When it comes to social media influencer marketing, Instagram often gets the spotlight, and for good reason. Its visual focus and highly engaged user base make it ideal for brands in fashion, beauty, and lifestyle products. 

However, limiting your efforts to instagram influencer marketing might not be it. Consider the different types of content and audiences on platforms like TikTok, YouTube, and even LinkedIn. 

YouTube, for instance, is ideal for long-form content where influencers dig deep into product reviews and tutorials. So, if your product requires a bit more explanation, YouTube might be the right channel. 

TikTok, on the other hand, is all about quick, creative bursts of content that can go viral in an instant. It’s perfect for reaching younger audiences and experimenting with trends. 

And finally, LinkedIn might not be the first platform that comes to mind when you think of influencer marketing, but it’s invaluable for B2B brands. 

You can collaborate with thought leaders on LinkedIn to position your brand as an authority in your field. 

Track the Performance

You might notice likes and comments rolling in but what you need to pay attention is whether they are truly affecting your bottom line. Start by setting clear goals before launching the campaign. Do you seek to increase brand awareness, drive website traffic, boost sales, or all of the above? 

Knowing what success looks like will help you determine which metrics to focus on. For instance, if your aim is to grow sales, tracking conversions from specific influencer posts will give you insights into which partnerships drove the most value. 

Influencer marketing tools are your best friend here. Use them to track everything from engagement rates to click-through rates to the number of times your brand was mentioned. 

Influencer Marketing Examples 

Influencer marketing for business is capable of shaping perceptions and redefining industries. Checkout these campaign examples that highlight its true potential. 

Dove

Dove took its commitment to body confidence to the next level by expanding its influencer community in 2022. The brand partnered with micro-influencers across various campaigns like #DetoxYourFeed and #PassTheCrown. Dove also earned recognition with a Shorty Award for its micro-influencer strategy. 

Burger King

Back in 2020, Burger King used TikTok’s viral culture to run its #whopperdance campaign. The brand partnered with popular creators like Loren Gray and Avani Gregg, who taught a fun dance routine to their followers. The incentive? A chance to get the iconic Whopper for just $1. The campaign was indeed a hit. 

Barbie

Barbie’s movie set a new standard for influencer marketing for business by starting its campaign well before the film’s release. It featured influencers worldwide, including stars like Dua Lipa, who shared their unique “The Barbie is” posts. 

The trend quickly went viral, making #BarbieTheMovie a global sensation. 

Grow Your Business with Video Marketing, Chicago Today!

We discussed the influencer marketing definition and strategies to target your potential customers without relying on traditional ads that often fall short. 

However, remember that the impact of influencer marketing isn’t immediate. Brand building takes time, and while a campaign might not result in instant sales, it could be laying the groundwork for future growth. 

Keep an eye on long-term influencer marketing trends, and don’t be afraid to experiment with different strategies until you find what works best for your brand. 

For businesses looking to take their content to the next level, investing in high-quality videos can make all the difference. You can partner with video production Chicago, which truly understands your market and the impact of influencer-driven content. 

Contact Indirap’s video marketing and production experts today to get your own customized plan!

FAQs

How do brands leverage influencer marketing?

Brands leverage influencer marketing by partnering with individuals who have a strong online presence. These influencers share the brand’s message authentically to drive engagement. 

What does it mean to leverage influencers?

It means utilizing their influence (and reach) to promote your brand. Since they have an established audience, you can use their credibility to spread your message more effectively. 

What are some strategies for successful influencer marketing?

Successful influencer marketing strategies include choosing the right influencers (who align with your brand) and encouraging creative freedom to ensure authentic content. Another effective approach involves collaborating with micro-influencers since they have a highly engaged audience. 

How to optimize influencer marketing?

You can optimize influencer marketing by defining your objectives and target audience. Regularly monitor your campaign performance and be open about adjusting strategies based on what’s working and what isn’t.