Influencer Marketing: Will it be beneficial for my brand?

More and more brands are choosing to work with influencers and we see the reach they can have. But is it really worth it for me to make that investment? Can I hire any influencer I like? How do I know if I’m choosing the right influencer? Will I recover the investment? These and more questions we ask ourselves when we want to use influencer marketing. Through influencers we can have  a large exposure window for our brand , which can be beneficial for companies if used strategically and with a planned marketing campaign. However, it does not mean that all the investment made will be recovered in sales, as is often believed.

Within digital marketing , influencers have become an important part of many brands’ marketing strategy. They have an active community of followers on social networks and are capable of influencing their decisions in relation to the brands and products they promote. That is, they influence the purchasing behavior of their audience.

Influencer marketing is one of the most effective ways to reach and connect with a target audience in the digital age. Because of the credibility that influencers have over their followers, they can help brands build trust, increase brand awareness, and even drive sales. In this article, we present everything you need to know about influencer marketing and whether it is really beneficial to include it in your brand’s digital marketing strategy.

What is Influencer Marketing?

Influencer marketing or “marketing with influencers” is the collaboration between a brand and an influencer to promote a product or service . Influencers, by having a large number of followers on social networks, have a committed and active audience. These collaborations occur through sponsored posts, videos, stories, mentions and other types of online content. The aim is for the audience to connect with the brand with the help of influencers, with the aim of generating brand recognition, credibility or sales.

What are the benefits of influencer marketing?

Influencers often have a close relationship with their audience and their endorsement of a product or service can be beneficial to the brand. Among the benefits that we can find when correctly applying influencer marketing are:

1. Reach a specific audience:Influencer marketing allows brands to have greater visibility in a specific audience and improve their presence on digital platforms, which can be difficult to achieve through traditional marketing methods. For example, if your brand launches a new lipstick on the market, an influencer who is dedicated to making makeup content has the audience you want to reach with your new product.
2. Credibility and trust:Influencers usually have an audience that supports and trusts them. Brands can take advantage of these elements to improve their brand image. Continuing with the previous example, if the influencer recommends your lipstick, her audience will believe in your product because it is being recommended by someone who has credibility in the makeup industry.
3. Generate authentic content:Influencers are experts at creating content that connects with their audience. Brands can take advantage of being part of that authentic and relevant content that can be more attractive to their audience.
4. Increase sales:As we have already mentioned, influencers, by having the power to influence the purchasing decisions of their audience, can generate an increase in demand for the product or service. With this, the brand can achieve an increase in its sales and improve its return on investment.

Should I apply influencer marketing in my business?

While it is true, influencer marketing is a good strategy, but it does not mean that it is suitable for all brands or companies. Additionally, it is important to consider your brand goals and strategy before starting an influencer marketing campaign. To do this, you must consider the following steps:

1. Identify if it is the ideal strategy for your target:You must take into account what digital platforms your consumers use, their reference social networks and what content they consume. If your target audience is on social networks, you could consider including influencers in your digital marketing strategy; Otherwise, you could consider another traditional marketing strategy that better suits your consumers.
2. Determine the budget:You must be clear about the budget established for the marketing campaign, and also establish how much of that budget is going to be used for the influencer. Influencer marketing can be an effective strategy, but it can also be expensive, depending on the influencer you decide to include in your campaign.
3. Measure your indicators:Before starting the marketing campaign, you must know the current indicators of your brand such as return on investment through sales tracking, website visits and increased brand awareness. This is key to measuring the success of the campaign after carrying it out. To know if the influencer marketing campaign was effective, the return on investment must be measured.

How to choose the right influencers for my brand?

Choosing the right influencer for your brand is key to the success of the marketing campaign. To do this, we must take these factors into consideration:

1. Analyze your audience:You must be clear about who your brand is aimed at and look for an influencer who addresses the same audience. If the target audience is poorly focused, it is very likely that your brand will not obtain the expected results.
2. Check your engagement: The quality of your audienceis more important than the number of followers you may have on your social networks. That is why, before collaborating with an influencer, we must review their engagement rate, which measures interaction with their audience , to see if they really connect with their audience.
3. Evaluate their content:Review the content that the influencer has previously published, since it must be in line with what you are looking to project and the marketing strategy. Also, make sure it is consistent with the values ​​and principles of your brand.

What metrics are used to measure an influencer marketing campaign?

In order to evaluate an influencer marketing campaign and know if it was successful, we must establish  metrics and measure the results of the campaign . Metrics may vary depending on the brand’s specific goals. These are some of the metrics used to measure an influencer marketing campaign:

1. Reach:Total number of people who saw the content generated by the influencer. This can be measured through the ratio of the number of impressions of the campaign and the total number of followers of the influencer.
2. Engagement:Refers to the number of interactions that the content made by the influencer received, these can be likes, comments or shares. This metric measures the influencer’s ability to generate interactions among their audience.
3. Conversions:Refers to the number of people who took an action after seeing the content generated by the influencer, such as purchasing the promoted product, registering on the website, downloading an application, among others. This metric measures the influencer’s effectiveness in making decisions with their audience.
4. Return on investment (ROI):Refers to the relationship between the income generated exclusively by the campaign and the costs associated with it. Measuring ROI is essential to determine if the investment in the influencer marketing campaign was beneficial.