Beginner’s Guide to Meaning, Importance & Benefits of Influencer Marketing

In this article, we will dive into what is influencer marketing, the importance and benefits of influencer marketing, and influencer marketing types.

Digital marketing has been ever-changing and has been keeping us on our toes since its inception with new breakthroughs every single day. For example, social media marketing has constantly been changing and shaping the industry. 

Influencer marketing is in itself a type of social media marketing that is extremely powerful. In fact, it has proved to be one of the biggest digital marketing trends. 

To learn more about it, stick to the end of this article. 

What is influencer marketing? 

Influencer marketing is a form of social media marketing that makes use of influencers, advertisers, opinion leaders, or organizations to promote a product or service. 

What is the purpose of influencer marketing? 

It helps in creating awareness of the product or service within their own target audience or following. It is similar to word-of-mouth marketing. The followers of the opinion leader or influencer potentially trust their judgment or review of the brand’s offerings.

The audiences of these influencers are engaged. Let’s have a look at the 8 main types of influencer marketing – 

Type 1: Giveaways

(Kylie Jenner promoting a giveaway for Scott Disick)

Giveaways are a popular type of influencer marketing. Since it involves high engagement rates for the audience and is fairly simple, it is a much-preferred type of influencer marketing. 

The influencer asks their followers to participate in a contest and once the winner is selected, sends them a gift. The gratification is brand-led and something that the brand sponsors usually do to create brand awareness.

Type 2: Affiliate Marketing

Affiliate marketing is a type of marketing in which a company relies on a third party, that is the influencer, to promote their products in exchange for a fee or incentive, as per the agreement. For more on affiliate marketing, read these affiliate marketing tips and strategies.

Type 3: Sponsored Content

(Daniel Wellington’s Sponsored Content Campaign with Influencers is very popular)

Sponsored content is like partnering with the influencer for a set number of deliverables. Make sure to provide the influencer with certain guidelines around the type of content you wish to create around your brand. 

Type 4: Social Media Handle Takeover

Social media takeover is when the influencer takes over your account for a specified period of time and creates content on your handle. It gives them full control of your followers and also redirects their own followers to your page.

Type 5: Barter Collaboration

Barter collaborations are when influencers partner with you in promoting your brand in exchange for gifts or free products or services. This is a benefit of infleucner marketing as micro-influencers are always looking for deals with barter/collaboration.

Type 6: Blogs

Blogs are a good way of increasing a brand’s visibility. They are used to talk about your brand and the offerings of your product or service. 

Must Read: Digital marketing blogs that will make you future ready

Type 7: Guest Blogging

Guest blogging is another great way of increasing the credibility of your brand by asking an influencer to write about your product in a blog on your website. 

Type 8: Brand Ambassadors

(Alia Bhatt- Brand Ambassador of MCaffiene)

Brand ambassadors are one of the most effective ways of promoting your brand. These influencers love your brand so much that not a lot of convincing is needed as they are more than willing to promote your brand.

You can make use of influencer marketing as a tool to improve your marketing strategy. 

Now that we have discussed all types of opportunities, let’s get onto the benefits of influencer marketing.

Also Read: Best Social Media Strategies in 2022

Top 11 Benefits of Influencer Marketing in 2022

We have listed some of the important benefits of influencer marketing for small businesses, big companies, and so on. 

1. Increased brand awareness

Since influencers have thousands and millions of followers, it is easier for them to reach a bigger audience. The influencer that you pick needs to meet your marketing goals. Their followers need to be interested in your products and services for them to make a conversion. 

2. Brand credibility

When high-quality, trusted influencers promote your brand or service, the credibility of your product or service will automatically increase. Since these influencers have built that trust with their followers and have a respectful and inspiring relationship with them it is a good decision to be partnering with them. 

3. Long-term Collaboration

A favorable relationship between an influencer and a brand can go a long way. It can help save time, money, energy, and resources. It is a mutually beneficial partnership as it benefits the influencer as well as the brand. 

4. Improves Content Strategy 

Many brands face the challenge of creating fresh content and influencer marketing is one way of tackling this. Many influencers bring a new approach that can bring fresh zeal to your content marketing strategy.

5. Increased conversions

When more followers follow your page through the right influencer marketing plan, there is a chance of increased conversions. 

6. Better performing SEO 

Over 80% of brands today have been using influencer marketing and over 50% of them claim that it has shown better results than any kind of content created by the brand. These activities can boost your SEO through blogs, strategic hashtags, and increased brand visibility.

7. Increased ROI

In a recent survey brands revealed how for every $1 spent, they received $18 in terms of ROI. This is one of the benefits of influencer marketing where you can see a substantial change over a short period of time.

8. Cost-effectiveness

Paid ads are expensive and sometimes marketers do not have control over them. Hence, influencer marketing proves to be much more cost-effective.

9. Time-saving

Influencer marketing can save precious time for your resources. It can help them focus on other activities whilst influencers do their job of marketing your brand.

10. Creates hype and engagement

Influencers, with their power and influence, can create serious hype around your brand. Since influencer marketing is more trusted amongst the youth, it is good to invest in it.  

11. Suitable for small and big companies

The biggest benefit of influencer marketing is that it is suitable for all types of brands. Understand who the influencer is and who their fan base is and accordingly collaborate with them. 

The benefits of influencer marketing statistics state that over 60% of millennials and GenZ trust influencers over traditional media. Read on to know more about how to market to Gen Z here.

FAQs

Q. Are there any disadvantages of influencer marketing? 

Both advantages and disadvantages of influencer marketing exist today. There can be misses on the part of the influencer and the brand whilst marketing such as over-promising, not delivering well, misleading content, unrealistic expectations, etc. 

It is important to use influencer marketing in the correct manner. The risks and benefits of influencer marketing are present but the benefits are worth taking the risk. 

Q. What is the purpose of influencer marketing? 

The purpose of influencer marketing is to use an opinion leader’s influence or power within their field to the brand’s advantage. When their followers engage with the endorsement, they are likely to put some trust into it. 

Q. What are the benefits of micro-influencer marketing? 

The benefits of micro-influencer marketing include –

• Higher engagement 
• More visibility
• Cost-effective
• Increased trustworthiness

Conclusion 

We hope that you enjoyed reading this article on the many benefits of influencer marketing in 2022. 

We recommend this online comprehensive digital marketing course for students or entrepreneurs taking the plunge in digital marketing. 

If you are already in the field and are looking for a more intensive course, then this MBA Level Post Graduation Program in Digital Marketing covers all aspects of digital marketing. Get in touch with our team at IIDE to know more!