E-Commerce Seller Financing • December 30, 2019
While influencer marketing may seem foreign to you, you’ve likely experienced it yourself if you spend time on social media and follow certain people.
Let’s take a look at what it is and how your business can benefit form it.
What Is Influencer Marketing?
An influencer is an online personality that has a certain influence in their specific field. Unlike celebrities, they are usually simply regular people who regularly produce content and have amassed a certain amount of followers on their platform.
So, influencer marketing is leveraging the platforms of these influencers to promote your product to their audience, thus generating your e-commerce business more sales.
Why Should Your E-commerce Business Consider Influencer Marketing?
1. Traditional Advertising Is Becoming Harder and Less Effective
While advertising your business is always important to drive new sales, it’s becoming increasingly harder to do so organically.
Social media algorithms are evolving, making it harder to reach people than it used to be. Moreover, social media platforms give preference to content from friends and family. As a result, brands have to work harder than before to gain results from their social media efforts.
Paid advertising can also be challenging. Nearly half of North Americans use ad blockers, meaning that you may be running your ads in vain.
Moreover, about 70-80% of Internet users ignore paid search results and choose organic search results instead. So, even if you shop up in searches, viewers can still choose a competitor over you if they rank organically just below you.
2. People Trust People More than Brands
In the meantime, word-of-mouth remains the most powerful form of marketing. People trust people more than they do ads. For instance, 84% of millennials do not trust traditional advertising methods. Yet, they make up most of the US workforce, and, therefore, have the most buying power.
So, if millennials make up most of your target audience, you need to look into more effective ways to advertise to them. And influencer marketing is becoming the go-to strategy for a growing number of brands.
3. More and More People Shop through Social Platforms
Long gone are the days when people would rush to physical stores as their favorite destination to purchase items they need. E-commerce is booming due to the convenience it provides. And now, smartphones have brought e-commerce to social media as well.
About 30% of shoppers in the US have bought something through social media. Moreover, mobile use and mobile shopping increases every year, and social media is here to stay. So, if you’d like to consistently bring in new customers, investing in influencer marketing and expanding into social commerce can take your business to the next level.
4. Your Influencers Create Content for You
In order for influencers to keep building their platforms, they must create high-quality content consistently. So, if you collaborate with a number of influencers, you can repost their content on your platforms.
Since creating quality content on social media takes time and effect, this can save your business a massive amount of time and money.
5. Influencers Are More Authentic and Have Better Engagement
Influencers usually have much smaller audiences than celebrities. As a result, they tend to have higher engagement. That’s because they have a smaller number of people engaging with their posts, and it’s much easier for them to respond to questions and direct messages that they receive.
This results in greater authenticity and more trust from their followers. And trust means higher chances of sales.
6. Influencer Marketing Is Effective
As many as 80% of marketers deem influencer marketing as effective. Moreover, 89% of marketers state that they have experienced results from influencer marketing that are as good or even better than from other marketing strategies.
7. Your Competitors Use or Plan to Use Influencer Marketing, Too
Statistics show that Google searches for “influencer marketing” have grown by a whopping 1500% in only three years.
More and more companies are working with influencers and see positive results. Moreover, about 84% of brands plant to work with influencers in the future, and 17% of companies using half of their marketing budget on influencer marketing.
8. Influencers Expect For Collaborations and Revenue
Influencer marketing is a win-win situation. It’s not only beneficial for e-commerce businesses but also influencers. In fact, nearly 70% of influencers get on social media and create content so that they could earn revenue.
So, if you are not using influencer marketing yet, it’s a good time to consider adding that to your e-commerce business’s marketing strategy.