When it comes to purchase decisions, most consumers — especially younger buyers — rely on people, even those they don’t know. That’s why it pays for you to find influencers who can spread the word about your products.
Why Use Influencer Marketing?
Data compiled by NoGre, a graduate education community has found 70 percent of teen subscribers think YouTubers are more relatable than celebrities, making them important marketing assets.
The report further revealed 88 percent of consumers trust online recommendations as much as personal recommendations. That’s a bit higher than the claims of another recent online trust study.
Social Media Makes Influencers More Relevant for Businesses
Gone are the days when businesses spent a fortune tying up with celebrities for promotions. Thanks to social media, there has been a shift towards word-of-mouth promotions via influencers.
Various social media channels, for their part, have made it easier for brands to leverage their platforms. Sponsored posts, banner ads, stories and promoted tweets are just some of the opportunities social media presents today.
How to Make the Most of Influencers to Connect with Customers
What makes influencers attractive to businesses is their ability to catch audience attention. Millennials and Generation Z however can tell when promotions are based solely on a contract. It is therefore important for businesses to ensure endorsements from influencers appear authentic and believable.
It’s further important to remember a growing number of brands are trying to tie up with prominent social media influencers. To ensure longevity and exclusivity, it is a good idea to create longer contracts.
“Companies better be ready to commit to between 6-12 months of 5 figure checks if they want exclusivity for their industry,” said Joel Contartese, an influencer marketing expert quoted in NoGre’s research.
Of course, that’s not realistic for most small businesses. Fortunately. there are alternatives.
Businesses should also focus on micro influencers who are four times more likely to get a comment on a post than macro influencers.
“You can attain the same or larger reach when spread across a handful of micro-influencers for a fraction of the cost, while adding a more diverse, yet targeted audience,” said Troy Osinoff, Author and Head of Customer Acquisition at Buzzfeed also cited by NoGre.
For more information, please see the infographic below:
This is the generation of influencer marketing. It is no longer enough to just market your products using old methods. You need to reach out to influencers as well.
Well said, Aira! Consumers want brands to be approachable and interesting!
“Millennials and Generation Z however can tell when promotions are based solely on a contract.” I don’t buy this line. One notorious festival comes to mind: The Fyre Festival. Google it. Lots of young people fell for the festival ads hook line and sinker – and those ads contained more than 400 influencers!!
Good point, Alex! There were many issues with Fyre and it had lots of people fooled!