As many modes of marketing have slowly become obsolete online, there is one which is growing increasingly. In fact, 2018 can be called the Year of Influencer Marketing since it has really picked up this year. However, influencer marketing is not something new. The rugged, Marlboro Man is the biggest example of traditional influencer marketing.
However, the current market environment, as well as the pros that influencer marketing offers, has pushed it into the limelight. Still not convinced? Take a look at the following pointers that show why it is so popular.
1. Reviews Matter More
Nowadays, buyers are becoming smarter and make the choice to actively research their options before they make a purchase. Apart from price comparisons, product reviews and recommendations have started to make a huge impact on customers’ buying decisions. So much so that there are YouTube channels dedicated to product reviews. YouTube has an international audience and these videos can garner millions of views. Brands also actively reach out to collaborate with them to influence their viewers and increase product sales.
2. Buyer’s Remorse and Opportunity Costs
As more products are being introduced into the market, there’s bigger opportunity cost and more buyer’s remorse. A makeup palette can cost around $49 but a person can also get a good shirt for that price. Additionally, what if they buy from another brand and get two palettes for the price of one? There’s a lot of opportunity cost and buyer’s remorse in the market. However, people are more likely to trust the product being recommended by their favorite influencer. Additionally, they also offer them discounts that give them 10% to 20% off.
3. No Ads or Gimmicks
One of the major annoyances with traditional marketing and even on YouTube is that they distract a person from what they are doing. Even on websites, these ads can be so annoying that many people use widgets like Adblock to keep their browser free of them. With influencer marketing, there are no such ads or distractions. It captures the user’s attention and holds them effectively, without any problems at all.
4. They Connect Directly with the Audience
Influencers interact directly with the target audience, which gives them bigger persuasive power. They are also present where the audience is. While a business might make use of a social media page, it doesn’t connect with people the same way an influencer does. Based on how likable or influential the person, a business can experience a 100% increase in their ROI and sales.
5. It’s a Win-Win Situation
With influencer marketing, a business has a new means of generating meaningful content. Influencers can work with the business. They also understand their audience and can help to make sure that they are effectively utilized. Additionally, not all influencers require compensation in money. Some are looking to increase their followers, enjoy perks that the business offers and look for other opportunities. In any case, it is a proper win-win situation where every party benefits effectively.
With all these pointers, you can see just why influencer marketing is becoming so popular and is only expected to grow.
