With the penetration of the internet and progressive technologies gaining rapid control of businesses and the corporate world, the current ecosystem has allowed numerous influencers to emerge. Regardless of your market niche or industry, you will find people who have built a network of tangible and substantial value.
Influencers use this web of connections to promulgate services and products as well as gain monetary benefits from such activities. The economic output of reputable influencer can put even the elites to shame, which is why you find many celebrities following pursuit.
According to a recent study by Business Insider, nearly 68% of US marketers from companies with 100 or more employees will sue influencer marketing in 2021. Furthermore, influencer and paid content will nearly amount to 20% of all US agencies and marketing professional’s digital ad budgets in 2021.
Moreover, the use of influencer marketing is expected to rise to 72.5% by 2022. In fact, 68% of US marketers are planning to use TikTok as the survey by influencer marketing platform Linqia reports.
In light of this information, let’s take a quick look at how influencer marketing can boost your ROI (return on investment) in 2021.
- AI and ML Applications
With artificial intelligence and machine learning being applied to almost every case scenario that requires studying huge chunks of data, you can also use this technology to make informed decisions. Many marketers are using AI to make their campaigns more effective by using AI to find the right influencers, deciding on the right type of content, and managing ROI.
Here you can take the example of Captiv8, which offers an end-to-end influencer marketing platform powered by AI. With such a tool, you can generate branded content that is data-driven to ensure maximum engagement from targeted audiences. Other examples include CreatorIQ and GRIN, to name a few.
- Boost Sales
There are several ways through which you can use influencer marketing to boost your sales. Here is what you can do:
- You can offer free samples/gifts to the influencer to review or mention your brand on their channel.
- With the help of an influencer, you can run an online competition or a giveaway event to promulgate the image of your venture.
- In some cases, you can even hire an influencer to take control of your social media accounts with mutually discussed and assigned targets/objectives/goals.
- An influencer’s blog can also promote and advertise your products/services by simply requesting a guest post opportunity.
- Sponsored content can also be created by paying the influencer to use their social channel and blog to generate impact for your venture.
- Complex But User-Friendly Programs
With the advent of smart computing technology, many new software and programs were given birth that can reduce the time taken and effort required to produce results. In this fray and mix of technologies, you can learn to master some viable tools to boost your influencer marketing strategies. Here are some tools that can help you perform influencer marketing research:
- Awario – a social media and web monitoring tool with features for influencer research.
- BuzzStream – offers a browser extension that helps in researching influencers
- Fourstarzz Media – an inventory of more than 750,000 influencers with numerous filters.
- NinjaOutreach – has a database of over 25 million websites and a cloud-based research tool.
- Heepsy – uses AI to match your brand with the best influencer from a database of 7 million.
- Hype Auditor – offers a database of more than 10 million YouTube and Instagram influencers.
- Nurture Employee Ambassadorship
While influencers are a great option to further promote and create awareness for your brands and businesses, you can use your own workforce to accomplish similar goals. Here you need to transform your employee into your company’s ambassador.
In order to accomplish this, you need to make sure that your employees are satisfied with your business approach, how you manage the entire team and keep your workforce happy. Once you establish goodwill with your employees, you can then transform them into your brand ambassadors, where they openly promote your venture through their private network, social media, and word of mouth.
- Inducing Thought Leadership
Building industrial thought leadership requires considerable effort where you manage your reputation as well as bring about changes in business operations that are innovative. In order to build a credible reputation, you have to deliver the WOW effect as well as make sure that your quality of services and product doesn’t dwindle with time. Here are some ways you can use influencer marketing to generate thought leadership in your niche market:
- Reach out to thought influencers with considerable expertise regarding a peculiar industry or market niche to help you manage your business reputation.
- Make sure that you clearly define thought leadership topics that you can manage and then align your influencer marketing objectives accordingly.
- You can also create a collaboration plan where both you and the influencer of your choice can strategize content creation for long periods of time (6 months or a couple of years even).
- Organizational Culture
Your organizational culture is what nurtures your brand. Building a resolute culture imparts valuable ethics, morals, and ideologies across various platforms. Once you have developed such a culture that attracts attention and imbues people with gratification, you can work with an influencer to further promote your organizational culture.
Promoting your organizational culture showcases that you offer a work environment that is driven with purpose and offers inspiration to anyone who chooses to become a part of your venture.
People would love to identify themselves with a business with a strong brand identity, regularly perform well, and keep their employees happy. Young learners who buy essays UK know that organizational culture is an integral part of a business.
- Study Population Segmentations
It is important to realize that you need to study the target audience and population segments when using influencers to run marketing campaigns. In order to maximize your returns, you need to reach out to the audience that is the perfect match for your venture. Building a customer persona can greatly aid this process.
When you reach out to a particular influencer, make sure that they belong to your industry, have considerable influence regarding your market niche, and deal with the right audience for your business. If that is not the case, you need to search for another influencer that deals with a similar audience and works with a population segment that agrees with your venture.
- Winning Over Customers’ Loyalty
Lastly, influencer marketing can also be used to promote brand and customer loyalty. Here you can use a credible influencer to portray the benefits of dealing with your business as a customer. You can include long-term rewards and bonus packages for loyal customers with additional perks of your own liking. Just make sure that they don’t heavily tax your earning and offer a reasonable potential to earn from the investment.
As a form of the social media marketing that involves endorsing products and services, influencer marketing can use the expert level of knowledge and social influence to maximize returns. This is why they are a force to be reckoned with since they exert substantial power to affect the buying habits of their targeted audiences.
I hope this post was able to provide you with a meaningful understanding of how influencer marketing can boost your returns on investment. Ensure that you study your market well and outreach only those influencers worth your time, effort, and incentives. That’s it for now. Cheers, and all the best for your future endeavors!