Influencer marketing has undoubtedly become one of the best ways to promote your products or services online, and many brands are investing more and more in this ever-evolving industry. Not only has it become an accessible way to reach your target audience, but influencer marketing is more measurable than ever. Although ROI isn’t always measured in money, brands see huge returns when they decide to partner with an influencer. Whether tangible or intangible, the ROI should be: exceed the invested capital, meet or exceed the target value, increase brand awareness and increase organic content.
But how exactly can influencer marketing or working with an influencer marketing agency generate huge returns for brands? Read below to find out.
Increased brand awareness
Influencers have created their own trusted community on social media, and choosing the right community to represent your brand means gaining access to their audience and gaining more qualified traffic and access to potential customers.
Acquired Media Value
Another way to increase website traffic, engagement and therefore ROI is through the affiliate links or tags used by the influencers, which can redirect followers to your brand. Beyond revenue, Earned Media Value (EMV) provides a number to translate the impressions generated by the influencer – either through daily visitors, page views, shares, likes or comments.
Increased number of leads and conversions
People trust influencers and they give a sort of endorsement when they represent your brand. More than 70% are more likely to buy products and services based on social media recommendations, also known as influencer marketing. As a result, the likelihood of converting those leads into sales is higher than with other marketing strategies.
Influencer marketing works mainly because of its authenticity and is less constructed than traditional marketing methods. Users who engage with an influencer’s post about your brand reshare or repost it, and it gives customers an opportunity to provide honest feedback about your products.
Recent data shows that companies are seeing more than 5x the revenue each time they invest in influencer marketing, proving this should be on your list when expanding your brand’s reach and on social media platforms want to be one step ahead. Influencer marketing agencies can help you with the right strategies and influencer campaigns that will increase ROI and give your business the attention it deserves.