Marketing is a crucial factor in improving the business. Different marketing strategies are used by companies today. Not only that, but there is development in marketing models as well. For instance, companies are using the AIDA Model in marketing everywhere nowadays to boost the profit. Likewise, another growing type is the influencer marketing.
In influencer marketing, a company collaborates with an online influencer to market its products or services. The influencer can either be a person or an organization. Influencers need to have a level of knowledge or social influence in the field they are marketing.
Influencer marketing is a type of digital marketing, which mainly focuses on social media. During this pandemic, digital marketing is the best way to advertise your products or services.So, companies need to be more aware, innovative, and hard-working than ever.
Also, influencer marketing is a form of inbound marketing. A big part of the work of inbound marketing is to focus on brands that distribute contents online. Moreover, inbound marketing gains social proof in the digital space. Hence, influencers are an essential part of inbound marketing.
AN EXAMPLE OF INFLUENCER MARKETING
One of the examples of influencer marketing can be the collaboration of PewDiePie and the movie, As Above, So Below. PewDiePie is one of the most popular personalities on YouTube, with 30 million subscribers. On the other hand, As Above, So Below is a horror film that takes place in the catacombs of Paris.
PewDiePie took a Catacomb Challenge. In the challenge, he gave his reactions to a recreated version of the movie’s original setting. Also, PewDiePie brought his fans into the process. Then, he asked them to choose the scares along his journey.
PewDiePie released the first half of his video of the Catacomb Challenge two weeks before the release date of the movie. The second part arrived a day later. His fans found the challenge video new and fun. It doubled the views of the movie’s trailer and also increased PewDiePie’s subscribers.
Hence, this is how influencer marketing works.
ADVANTAGES OF INFLUENCER MARKETING
There are many perks of influencer marketing. Any company can benefit from it if they choose their influencers correctly. Also, to make the influencer marketing productive, a company can follow effective decision making.
A few advantages of influencer marketing are:
- Quickly builds trust
Influencers are good at building relationships with their fans. Fans follow the influencers because they trust them. People respect their contents. Also, they take the suggestions and recommendations of the influencers.
When a company shares the content of an influencer in the related field, it gets his/her attention. Then, the influencer also shares about the company’s product or services. An active audience sees the content and trusts the influencers. It also means the audience believes the company. Hence, influencer marketing helps to build trust shortly.
- Improves brand awareness
Influencer marketing helps your brand to reach out to a large population. It can expand your branch. The audience can know about the services you provide and the products you offer. They can know about your brand in detail. Hence, influencer marketing improves brand awareness.
- Enriches your content strategy
Many firms are involved in content marketing. But sometimes, due to any reason, companies run out of content ideas. In such cases, companies can fill the gap by using the contents of influencers. It enriches the content strategy.
- Reaches your target audience effectively.
Reaching out to the target audience is a big thing in targeting. With influencer marketing, you do not have to spend extra time and money on testing and finding your audience. Relevant influencers post your content in front of the target audience. Hence, influencer marketing effectively reaches your target audience.
- Provides incredible values to the audience
Influencer marketing embraces the concept of inbound marketing. It delivers content that educates, inspires, and solve the problems of the audience. Also, influencers already know about the needs of their fans. Therefore, it becomes easier to tell what type of content they need.
- Builds partnerships
Connecting with an influencer can lead to the start of a secure relationship. You can engage with the influencers effectively and make the marketing better. Also, there can be opportunities for joint ventures, events, and so on.
DISADVANTAGES OF INFLUENCER MARKETING
Influencer marketing has some drawbacks that you need to know. Some cons of influencer marketing are:
- Influencer marketing requires time and effort to set up.
Before starting the influencer marketing, you have to go through the following steps:
- Research to find an appropriate influencer
- Prepare terms and conditions to cooperate with the influencer
- Check the contents of the influencer
- Measure the results of the campaign
Only after succeeding in these steps, you can start the influencer marketing.
- There is no guarantee that influencer marketing will work.
Influencer marketing can fail even after you put your best effort. Companies spend a lot of money and time in this marketing. Since there is no guarantee to succeed, it will be a massive loss for the company if the marketing does not work. Also, there is a big competition in the market. So, it increases the chances of failing.
- Influencer marketing can cost more.
It is necessary to prepare influencer marketing tactics to make it productive. Also, you need to monitor the results of the marketing. For this, either you need advanced technology or skilled employees. So, it can increase the cost.