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October 26, 2018

The ROI of Influencer Marketing



Gone are the days when consumers would actually trust print and TV advertisements and buy products based on the claims ads made. Today, it takes a lot more than claims to win the trust of consumers. They need social proof.

And this demand from consumers has, in fact, paved the way for influencer marketing.

Influencers are people who are experts in their fields and are greatly trusted by their followers. Their recommendations and opinions are highly sought after. So much so, that when their recommendations were coupled with brand messages, the purchase intent of consumers increased 5.2X.

Since influencer marketing is so effective, brands are investing a lot of money into it. In fact, 40% of marketers have spent over $10K on each influencer marketing campaign. This naturally raises the question: what kind of returns can we expect from influencer marketing?

Let’s take a look at some of the returns you can expect from influencer marketing.


1. Increase Brand Awareness


When you collaborate with influencers who have large followings, your messages can potentially reach a large number of people. This isn’t limited to their followers alone but also includes the people their followers share the content with. So an increase in brand awareness and visibility are some of the most common returns you can expect from influencer marketing.


2. Increase Leads, Sales, or Conversions


These are some of the most obvious returns you can expect from influencer marketing. Collaborating with influencers in your niche can put your brand in front of the people who are most likely to become your customers. You can ask influencers to share discount codes or affiliate links to drive more people to your site and encourage them to buy.


3. Increase Social Media Followers


You can also increase your social media followers through influencer marketing. An interesting strategy that many brands use to do so is to ask influencers to host giveaways or competitions.

Infographic Courtesy of: Grin.co
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