Is It Necessary To Have An Influencer Marketing Strategy?
To begin, determine whether an influencer marketing plan is appropriate for your company.
You must first plan out your customer’s path in order to ascertain this. Only by understanding the decision-making process of your customers can you determine whether or not an influencer marketing approach is appropriate for your company.
Examine The Buying Process
The term “buyer journey analysis” refers to the processes that a customer takes before acquiring a product.
It necessitates research into how your customers behave, their likes and dislikes, their background, reactions, replies, and, eventually, whether or not they purchase things (and what causes this customer friction). This will assist you determine whether or not this technique is profitable for you.
Using the example of Lmnop, a business that offers “I love New York City” merchandise, let’s start by identifying consumer behaviour at these three primary touchpoints:
Prior To The Customer’s First Contact With The Brand
According to research, Lmnop’s clients are teenagers and young adults who like to be fashionable and popular. They come from a wealthy financial background and a western culture. They are incredibly active on social media and frequently share their brand experiences.
These customer attributes reveal that Lmnop’s potential consumers have traits that can be used in conjunction with an influencer marketing approach to increase sales and brand awareness.
When a Customer Interacts With A Company
When buyers see “I love NYC” t-shirts and caps from Lmnop, they ask their friends and online communities questions like:
- “Hey, do you think this is cool?”
- “Doesn’t this appear to be trendy?”
- “Gives off a nice vibe”
- “Does this look fashionable today?”
If their friends and relatives respond positively, they will buy lmnop products.
This demonstrates how customers are influenced and persuaded by social validation and opinion leaders when they come into contact with a brand. This means Lmnop requires a strategy that allows persuasion, popularity, and fashion to impact purchasing decisions.
When the Customer Has Leaving
After purchasing the “I love NYC” t-shirts and caps from Lmnop, buyers share photos of them with their friends using relevant captions and hashtags.
This feature of Lmnop’s consumers’ psychology indicates that they are always in contact with community members and experts.
Similarly, if your customer journey data indicates that customers rely on recommendations and evaluations from niche specialists, then congratulations on deciding on an acceptable influencer marketing plan.
Is influencer marketing more important for you than other marketing techniques now that you know it’s right for you?
The Importance of Using Influencer Marketing
Let’s look at why 91 percent of marketers regard influencer marketing to be significant now that you’ve determined that your clients are likely to respond to it.
Boosts Confidence
Hundreds of companies abound on the internet, making it difficult for shoppers to know who to trust and whom to purchase from. Decisions about who to trust and buy from are frequently made based on well-known recommendations. Customers are more likely to trust brands based on personal recommendations than traditional advertisements, according to 92 percent of customers. As a result, developing an influencer marketing plan is critical for your brand to win the confidence of its target audience.
Enhances your online visibility
Influencer marketing is crucial not only as a marketing approach, but it also has a good impact on your internet exposure.
When someone searches for your brand on Google or through social media channels, the reviews, suggestions, and responses of influencers frequently appear in the search results.
More Information
The creation of large amounts of new and engaging content is one of the components of influencer marketing. As a result, influencer marketing becomes increasingly crucial, as more content leads to increased visibility, awareness, and engagement.
More Remarks
Because influencers have a large and trusted following, followers may talk about the company more and more through comments, conversations, queries, story mentions, and other means. When an influencer talks about a brand instead of any other advertising channel, people tend to talk more and stick around seven times longer.
Cost Effectiveness
For a newly formed brand as well as a brand with a limited budget, an influencer marketing strategy is critical. These companies might not be able to pay or invest in paid marketing and advertising platforms. On average, every dollar spent on influencer marketing generates $6.50 in revenue. When compared to the pay-per-click model, each $1.60 yields $3.
As a result, the return on investment (ROI) of influencer marketing is significantly larger and more helpful in comparison to the amount of money spent on the plan.
Improved Participation
Marketing and advertising have become increasingly reliant on engagement. You will have effectively attained your value for money if your marketing approach can make your target audience desire to engage with your brand. Influencer marketing generates 3.5 times the amount of interaction as traditional advertising.
Enhances Customer Contact
Influencer marketing is vital because it allows your company to reach out to all corners of your target market. When an influencer talks about a brand, it is known to increase brand conversations by three to ten times. The simplest way to grasp this is to look at Lord & Taylor as an example. Lord & Taylor teamed up with 50 influencers and had each of them upload a photo of themselves wearing their new dress on Instagram on the same day. The dress was then sold out in less than a week.
The essential point here is that influencer marketing is critical not only for generating trust, but also for reaching out to customers and converting that trust into sales.