Today, brands allocate dedicated budget for influencer marketing. During 2017, 63% of companies decided to increase the budget for their influencer marketing strategies, according to a survey by bloglovin.com.
Unlike traditional marketing, influencer marketing helps brands to gain as well as retain customers.
In addition to this, influencer marketing is also a cost-effective strategy for brands to implement.
Influencers have a huge number of followers, which helps brands to expand their reach and tap new markets. It also helps brands to boost the generation of ROI.
On the other hand, traditional marketing can be expensive and challenging to implement. With the help of traditional marketing, brands can gain new customers but can hardly retain customers.
Following are three underrated advantages of influencer marketing strategies which brands overlook:
1. Reach Out to Gen Z and Millennial Consumers
The young generation is more into social media than television or other forms of telecommunication media. So, brands also have to enlist the help of influencers to cater to Gen Z and millennial consumers via social media.
85% of Gen Z receive all the information related to a new products from social media. According to the same study, 40% of Millennials report that their favorite social media influencer understands them better than their family and friends.
Influencers help you to gain the trust of Gen Z and millennial consumers. They can also enable you to establish a relationship at a personal level. This helps you to tap new markets and expand your brand.
2. Builds Credibility for Brands
It is not easy to gain the trust of your audience. Having said that, collaboration with influencers will help you establish a relationship and win that trust over time.
Content created by influencers is genuine, engaging, and authentic. This type of content will serve to help you to win the trust of your target audience.
You can ask influencers to review your products and services. This will help you to increase customer loyalty and customer retention rate.
This, in turn, will help your target audience trust the advice and follow the recommendations of these same influencers.
3. Versatility Across All Social Platforms
Usually, influencers are active on more than one social media platform like Instagram, Facebook, Snapchat, YouTube, and Twitter.
So, influencer marketing enables you to reach out to your target customers via various social platforms on both mobile and web access points.
It allows brands for cross-promotion of their sponsored content on various social media platforms.
However, it depends on the campaign and the presence of influencer on all social media platforms.
So, these were some of the usually overlooked advantages of partnering with social media influencers.
Check the below infographic to know more about influencer marketing ROI.
Image courtesy: Grin.co
Disclaimer: The views and opinions stated in this post are that of the author, and Return On Now may or may not agree with any or all of the commentary.