Influencers can help businesses reach consumers, build brand awareness, and generate sales. And the influencer marketing space has a pretty sizable platform that you shouldn’t ignore.
Straits Research says the global influencer marketing platform was worth $13.78 billion last year. It’s on pace to climb to $174.6 billion by 2031.
If you haven’t explored the benefits of influencer marketing, it pays to see how it can help your business.
Consider the following five reasons why the right influencer can be a godsend.
1. Boost Brand Awareness
Businesses work with influencers because these professionals can increase brand awareness. Brand awareness will climb as popular influencers create content displaying your company’s products to your target demographic. The influencer you hire can use promotional videos, social media posts, articles, and other content to generate interest and engage consumers.
2. Break into New Markets
Another reason to consider working with influencers is that you can break into new markets. Instead of the costly and lengthy process of setting up an office in another country, for instance, you can find an influencer with a sizable following in the region you’re targeting. So, all you have to do is team up with influencers whose followers are the type of consumers you want.
3. Solicit Feedback from Customers
Influencer marketing is also useful for getting feedback from customers or consumers who fit your target demographic. You can solicit feedback to see what people like and dislike about your product, what improvements they want, and which features they most like. Influencers tend to engage with their audiences and can get information that your business wants.
You can also get feedback directly from influencers about their thoughts on your product. Since these influencers will typically share certain traits of your target demographic, their feedback can be invaluable in helping you to create the best product and experience possible.
4. Boost Social Media Presence
Did you know 4.8 billion people worldwide — 60% of the global population — use social media? Meanwhile, the average time people spend daily using social media is close to two and a half hours, and 150 million new users have come online within the last year.
When you hire influencers with many followers on social media platforms that are relevant to your target market, your social media presence will rise. Influencers will discuss your company and products in a way that entices their followers to find out more about what you’re about.
5. Explain Your Product to Customers
Do customers need to be educated about your product before making informed buying decisions? While some products sell themselves, others need to be explained and demonstrated. Customers must know how to use it, see how it will address any pain points, and understand why your product is better than competing products.
That’s where an influencer can help. The right influencer can educate customers on your product. For instance, you can encourage your influencers to create instructional videos so they can speak directly to their followers about your product. Producing promotional content via blogs and social media postings, influencers can advise their followers to visit your website for more information or order your product.
It’s clear you can derive a great deal of benefit from working with influencers. But how do you find the right one for your company? Just because an influencer is effective doesn’t mean that they’re a great fit for your business and product offering.
That’s one reason working with an influencer marketing agency makes sense. Such an agency will find you the right influencer for your business so that you get the best results for your influencer marketing spending.