19 Apr Chasing Influence — Why Influencer Marketing Matters
Remember when one tweet from Kylie Jenner cost Snapchat parent company Snap $1.3 billion in market value? We’re sure they haven’t forgotten.
sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad.
— Kylie Jenner (@KylieJenner) February 21, 2018
The lesson here is: influencer opinions matter, and unless you want to end up in a similar pickle, it’s best to have those influential voices on your side.
Just how well does influencer marketing work?
Recent data shows that 72% of customers trust a business more after it is recommended by an influencer. Though influencers are in most cases complete strangers, their endorsements are treated similarly to a recommendation by a friend. Dedicated influencer audiences are invested in the individuals they follow…they don’t feel like strangers. And luckily for marketers, these influencer audiences put their money where their mouth is — influencer marketing can generate 11 times the ROI of traditional marketing!
In addition to driving quantifiable results among a target audience, there is a secondary benefit to engaging with influencers — an influencer you’ve contracted, and paid, is considerably less likely to dismiss your company or products down the line. If Snapchat had a business relationship with Kylie Jenner, even in the past, she may have thought twice about bashing them on Twitter.
Which influencers are right for your brand?
Kylie is obviously a behemoth of an influencer, but you don’t necessarily need to go big to drive results. The answer to the question “which influencers are right for my brand” depends in large part on your objectives. A recent study indicates that only 3% of people would consider buying a product being endorsed by a celebrity, but 30% of people say they’re more likely to purchase a product based on a recommendation from a non-celebrity blogger. So, if you’re looking to drive product purchase, then a smaller, more niche influencer is probably your best bet. On the other hand, if your main objective is to generate brand awareness, a macro-influencer or celebrity will reach a much larger audience in a much more efficient way.
Have we piqued your interest? If you’d like to learn more about what influencer marketing can do for your brand, get in touch.