They are a lot of benefits to using influencer marketing. For businesses struggling with sales and not getting their brand to more people, influencer marketing is a great tactic for them to implement. But not only that, influencer marketing has a lot more benefits. Here are seven benefits of using influencer marketing for your business:
1. Brand Exposure: There are other 31.7 million businesses in the US competing for your customers' attention in some way or form, and today more than ever, it is harder to get your business in front of people. Brand exposure through influencer marketing is like grabbing a megaphone and shouting, "Here is where I'm hiding; come find me." Pro Tip: letting everyone know about your existence is always positive.
2. Word of mouth: Your customers want what their friends and people they follow on social media like. A good referral goes a long way. According to a Hubspot survey, 71% of consumers will buy products or services based on social media referrals. Another study from Stackla found that 84% of consumers say they trust peer recommendations above all other advertising sources.
3. Improve team morale: Believe it or not, happy staff means better service. Employee engagement has a direct correlation with how successful your business is. It also has to do with lower turnover, shrinkage, and absenteeism. How? Well, by loving the place you work at, you develop more engagement. Love is created by working at a place that everybody loves, and that starts being loved in social media.
4. It's cost-effective: The average return on investment for every $1 spent on influencer marketing is $6.85 and rises as high as $11.33 for some sectors. The average customer acquisition cost through traditional marketing for consumer goods is around $22, so the math here is simple – you spend less, you gain more.
5. Better SEO: This concept is simple: the better your SEO, the better you rank at search engines. One thing that boosts your SEO is how many people share your website links. Having bloggers post your business website can help you rank better at search engines by increasing your DA (Domain Authority).
6. User-Generated Content: Like Bill Gates's famous quote: "content is king." The more content your business produces, the more "credibility" you build. Content (pictures, videos, or blogs) add value to your product and brand. It also generates new leads and sales by creating meaningful content customers can relate to. If you are interested in learning more about content strategies, a recommended read about inbound marketing is recommended.
7. Close to the big fish: I know this sounds silly, but listen – becoming viral is huge. Soupa Saiyanis, a ramen place in Orlando that got featured at Bring Me by BuzzFeed. The video has more than 20 Million views, and it now has been featured in more than 70 magazines, newsletters, and websites. People come to Orlando from all over the US to try the Dragon Ball-themed Ramen. And this not only translates into social, but they are planning on expanding national due to the large volume of attention, and I dare you to go at any hour and see how many people are standing in the line. Virality is a big fish you want to catch.