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Influencer Marketing in 2021- Could Your Business Benefit?

But, as with all things, you want to know, is it effective? So the question is: is influencer marketing still a good strategy in 2021? In this article, we are going to take a look at the current state of influencer marketing. The idea behind influencer marketing isn’t complicated. Find someone with a large following and partner with them to promote your products or services. 

Most influencer marketing is done on social media like Instagram, Snapchat, and Tick Tock. When you join with influencers who have half a million followers on Instagram (the top platform for influencer marketing), they will expose all of their followers to your products or your services. It’s a great way to promote your brand to a broad audience and capitalize on their large following. Influencer marketing is amazing because it capitalizes on word of mouth. Most of the younger generations don’t trust traditional advertisements. Yes, your product looks incredible, but these days you need an influencer to tell people to buy it. When an admired person promotes a product or service, consumers are more likely to be receptive to his or her suggestions. However, 92% of consumers believe suggestions from people they trust. Influencers with less than 50,000 followers have a fan base that trusts them implicitly. There are two types of influencers you may want to consider, 

Micro-Influencers

Not all influencers are created equal. In the past, mega influencers (over 1 million followers) were the most desired. Influencer marketing was all about reach: quantity over quality. While they might have the reach, mega influencers lack in substance. They don’t necessarily care about or use the products they promote, making their promotions no different than paying for a celebrity endorsement. Today, that’s changing. Micro and nano influencers (those with under 40,000 followers) are becoming the most sought-after influencers. Smaller influencers curate a more authentic and personal relationship with their followers, and thus, increases trust in the products they choose to promote.

 

Studies have shown that as reach increases, engagement decreases:

10,000+ followers: 3.6% engagement

5,000-10,000 followers: 6.3% engagement

1,000-5,000 followers: 8.8% engagement

Modern influencer marketing experts know that reach isn’t the most important part of marketing. If a million people are aware of your product but only two people convert to sales, is it worth it? Micro and nano influencers offer more bang per marketing buck, and all signs point to them as the future.

Long-Term Partnerships with Brands

Many marketing professionals treat influencer marketing like paid advertisements. Give an influencer some money, they promote your product, and you both go your separate ways. 

Consumers easily see through this strategy. It’s impersonal and obvious that the celebrity influencers don’t actually care about the product. They just talk about it once, and it’s forgotten.

In 2020, there’s been a clear shift away from these one-off promotions to foster long-term relationships. More and more brands are starting to run months-long campaigns (if not longer) with the same influencer to build credibility with the audience. If consumers see the influencer using the same brand or service time and time again, they’re more likely to engage. It’s more authentic and doesn’t seem like a pushy advertisement that drives people away.

Although there are other types of influencers, These are shown to be the most promising when looking at results. The excitement around micro-influencers is partly based on their ability to cultivate niche communities around specific interests. Whereas larger influencers attract a broader swath of followers across many groups, micro-influencers enable brands to tap into more clearly defined micro-communities. This has enabled marketers to launch highly tailored micro-influencer campaigns, in some cases with powerful results. see if influencer marketing is right for your business. If its not we have one that will fit your needs. Call 616-888-5050 or contact us.

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