Did you know that influencer content can increase purchase intent 5.2 times? And according to a Twitter and Annalect study, 49% of people trust influencer recommendations when making their purchase decisions. This is almost as much as the 56% who say they trust friends for purchase recommendations. Based on these stats, it’s easy to see why influencer marketing has become so popular.
Pardot reports that 86% of marketers implemented influencer marketing in their 2016 marketing campaigns. And among those who used influencer marketing, 94% considered it to be effective, according to Linqia.
This is a huge difference from an earlier Launchmetrics report in which the number of marketers who found influencer marketing effective was 69%.
How Influencer Marketing Benefits You
Besides all of the stats that suggest the benefits of influencer marketing, there are other reasons why you should start using it in your marketing strategy:
- Influencers already have a massive following. So when they help promote your product or content, you can gain access to a huge audience. This improves the visibility of your campaign and your brand.
- As mentioned earlier, influencers have already established trust with consumers. Their followers trust their opinions and suggestions. So they can have a huge impact on your conversion rates, while helping you win the trust of your target audience.
- Influencers are content creators. In other words, they have a knack for creating original content that intrigues and engages their audiences. So they can help you create authentic and unique content to promote your product.
- Working with influencers is more cost-effective than traditional advertising through banner ads and/or celebrity endorsements. So you can yield a higher return on your investment.
Possible Challenges of Influencer Marketing
In addition to these benefits, there are a few challenges involved with influencer marketing that you should be aware of. This awareness will help you better prepare for your first influencer marketing campaign. Based on the previously-cited studies, measuring the ROI of a campaign is the biggest challenge marketers currently face with influencer marketing.
Previously, choosing the right influencers for a campaign was the biggest challenge, and it still continues to be a huge obstacle for some marketers. Many marketers also find it difficult to engage with influencers for their campaigns.
When creating a plan for influencer marketing, you need to prepare to overcome all of these challenges. Interested to learn more about influencer marketing? Check out the detailed infographic from Shane Barker, which highlights some interesting influencer marketing facts.