5 Ways Influencer Marketing Can Help Boost Your Sales
Since the coronavirus pandemic struck last year, brands have had to quickly update their marketing and advertising strategies to resonate better with their target audience—most of which have suddenly become stuck at home.
Today, there’s lots of stiff competition between companies to capture the attention of their target audience and convert them into loyal, paying customers. Since traditional marketing channels have become quite inadequate due to the effects of the pandemic, brands have now turned to influencers to help acquire new customers.
People with large followings and strong engagement on social media, especially for showing interest or promoting high-quality products in a particular niche are called influencers. They have loyal and captive audiences that will always pay keen attention to the products and services they promote. Many businesses are quickly realizing how important influencers are in bridging the gap between them and their target audience.
Recent reports reveal just how important influencer marketing is to many businesses today and by 2022, brands will spend an estimated $15 billion on social selling through influencers, according to Business Insider. As demand, popularity, and marketing budget increases for influencer marketing, it's important to know the different ways in which influencer marketing can help grow your business revenue.
1. Online contest and giveaways
One of the simplest and most effective online strategies for boosting content reach and increasing your audience engagement is launching a contest or giveaway.
Typically, businesses can benefit from influencers by leveraging their social media reach to launch their campaigns. Most online contests and giveaways require audiences to engage a particular page by liking a post, sharing it with more people, tagging their friends and following the page. The winner is usually chosen at random and either gets prize money or free access to your product or service.
Using this strategy is great for increasing brand awareness, generating lots of buzz about your products and services, engaging your audience and building lead generation funnels. Also, unlike other marketing strategies, it is quite easy to execute, and you can generate a very high return-on-investment (ROI).
2. Influencer product reviews
Many customers are quite sceptical about brands that appear too salesy and always blowing their own trumpet. It is much easier to rely on recommendations from family, friends, acquaintances, and their favourite influencers.
Social media influencers have become very important in the customer buying journey, and studies show that they are the most trusted and effective source of driving online sales. If your brand collaborates with an influencer within your niche to provide an honest review of your product and service, it could go a long way in influencing customer buying decisions.
Many global brands today collaborate with influencers and get them to share their experiences with their audience, highlighting the pros and cons of the product. These reviews feel a lot more natural and trustworthy than an advertisement showcasing just how great your product or service is.
3. Exclusive Offers
Creating a sense of urgency in the mind of your target audience is quite effective in boosting sales and with the help of influencers, you can create and promote exclusive and limited offers for your product or service.
Once the influencer promotes this exclusive offer with a limited time frame on their social media channels, it psychologically creates an extra incentive for people to quickly make a buying purchase. You can either create a customized discount code—for example, one that includes the name of the influencer—or create a generic code that can be shared with several influencers.
Discount codes are a great way to drive sales and are equally helpful in tracking the campaign and measuring the number of sales that were channelled through a specific influencer.
This strategy is best suited for brands who want to increase their public awareness and direct traffic to their website.
The first step is to find a blogger who is very influential in your industry and would be willing to talk about your brand in their blogs. However, it is important to avoid sounding like a salesman as blogs are meant to be educative and helpful and informative.
Another way to take advantage of blogging in influencer marketing is to invite influential blogs to contribute guest posts to your website. Once their content is published, they can share it with their loyal followers, increasing your brand exposure—and ultimately, converting blog visitors to customers for your business.
5. Paid advertising
While working on a campaign with an influencer, you can equally promote their content through paid advertising. This way, you’re not only expanding your reach to a wider audience but invariably building brand awareness for your product or service.
If your primary goal is to drive sales, you can even add a relevant call-to-action that prompts the user to make a specific action.
One important thing to note is that a carefully executed influencer marketing campaign can generate high quality leads for your business and even drive conversions. It can also boost your brand awareness and strengthen customer loyalty. However, it is necessary to track and evaluate your social media campaign to ensure you’re getting the necessary ROI.