Should Your Brand Consider an Influencer Strategy?
The influencer marketing industry is expected to grow substantially this year. Learn about the advantages of developing an influencer strategy for your business.By Catherine IbarraApril 13, 2021
Stay on top of the latest e-commerce and marketplace trends.
Brands are becoming more creative in their marketing initiatives to stand out in the competitive e-commerce landscape. Developing an influencer strategy as part of your marketing efforts can help increase your brand’s discoverability, boost engagement, and foster loyalty in a meaningful way.
Feedvisor’s 2021 brand survey report found that 44% of brands believe social media marketing is their greatest source of opportunity this year. Influencers gained their social media following by establishing credibility within a niche market. Partnering with established influencers who are knowledgeable in your product category can help expand your reach and drive sales.
The influencer marketing industry is projected to rise to $13.8 billion in 2021, according to a report by Influencer Marketing Hub. Furthermore, the majority of businesses (75%) intend to create a budget specifically for influencer marketing this year.
Are you interested in partnering with influencers? Learn about the benefits of adding an influencer strategy to your marketing mix and the affiliate programs that are available on Amazon.
Influencers Create Compelling Content
Influencers have a greater understanding of the content their audiences are interested in seeing over brands due to the performance of their countless posts and videos, as well as the ongoing feedback they receive. Influencers, especially micro-influencers, will heavily interact with their followers, and subsequently gain valuable insights.
Influencers on social media with around 1,000 followers have an 85% higher engagement rate than those with approximately 100,000 followers. However, influencers of all sizes will be able to effectively curate content that aligns with their demographic.
Since influencers are able to develop compelling content, the important step brands should take is choosing an influencer who is very familiar with their niche market. Brands can additionally provide influencers talking points that showcase their value proposition, key product features, and special promotions.
Boost Brand and Product Discoverability
Brands are able to drive up product discoverability by partnering with influencers. The experience is more organic and meaningful as consumers will be watching one of their favorite influencers when a brand’s products are introduced and recommended.
Items can be discovered through long-form video content, like Amazon Live and YouTube, or through a photograph on Instagram. Short-form video content has skyrocketed in popularity in recent years, especially after the adoption of TikTok.
TikTok’s algorithm is unmatched in surfacing videos at scale based on user interest. Korean beauty brands, such as I Dew Care and I’m Meme, demonstrate how to use their products through their TikTok videos, similarly to how an influencer would reveal the functionality of sponsored items. The brands have been able to increase product awareness, however, working with influencers would maximize their reach.
Nearly 60% of marketers turn to influencer marketing to increase awareness. Brands are not only able to get discovered by more consumers in their target audience but also by a new customer base that follows the influencers. The influencers essentially put brands and their products in the spotlight for their entire audience to view.
Increase Conversions
Influencers have gained their audience’s trust based on their expertise within a specific industry and through their product recommendations. Influencers’ followers trust their judgment, which in turn makes them more inclined to purchase the items they endorse.
Almost 60% of consumers bought a product during a six-month period because it was recommended by an influencer, according to a report by Elderman. The same report reveals that more than half of consumers believe what an influencer says about a brand over what the brand says about itself.
The established trust that consumers have for influencers is the ultimate factor that can drive more conversions for brands than their own campaigns. Their audience is also cognizant that influencers are likely to only suggest products they enjoy and believe to be good quality to show gratitude towards their followers and uphold their reputation.
Amazon Affiliate Programs
Amazon offers its selling partners two influencer programs to choose from, Amazon Associates (also known as Amazon Affiliates) and the Amazon Influencer Program.
Amazon Associates is one of the largest affiliate programs across the world. Influencers use custom links to direct traffic to a brand’s product listings. This is a simple and effective strategy brands can leverage to boost sales and reach new audiences. Influencers earn a commission on qualifying products they funnel traffic to.
The Amazon Influencer program is an extension of Amazon Associates. Influencers also use links to drive shoppers to a brand’s product listings, however, they have the additional option of creating a storefront on Amazon. The digital store provides consumers an elevated shopping experience and can feature multiple items from a brand’s catalog. Businesses can utilize the program to improve the customer experience and move more inventory. Influencers receive a commission on eligible items as well.
About the Author
Catherine Ibarra is a marketing consultant at Feedvisor, where she contributes to the company's content marketing initiatives. She has a technology background.
Final Thoughts
Brands that establish partnerships with influencers will be offered quality content, can expand their discoverability, and increase their conversions. The partnerships are fruitful to each business partner and can help brands gain net new customers. Amazon offers two affiliate programs if you are interested in leveraging services on the retailer’s platform.
Before deciding if you want to create an influencer strategy, make sure to evaluate your budget and business needs. Brands can benefit from working with either macro- or micro-influencers. If you have flexibility in your marketing budget, it is worth applying funds towards trusted sources that will provide a stamp of approval on your products.
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