Ever since time immemorial, word of mouth has always been the most effective way to get people to try something new. The other day I made 11 of my friends try this little bakery called Cinnabon. Everyone was shocked that they absolutely loved it (which offended me a little to be honest). I am pretty sure these guys must have referred the same to their friends. Not to mention everyone put it up in their instagram and snapchat stories. If only I was getting paid for this!
We are bounded rationals and sometimes relying on other person’s judgement about something is sometimes so much easier. Obviously this observation hasn’t gone unnoticed by the marketers. Hence, influencer marketing was born to capitalize on this trend in the digital platforms. It is not uncommon to see vloggers and bloggers promoting different brands on their social media accounts these days!
The verdict on influencer marketing
While I am not sure influencer marketing is going to survive the long run considering almost everyone is an influencer these days (yes I am taking a dig at half of the people on my instagram). However, it is very much relevant right now. People tend to trust more when it comes from these influencers they look up to. Marketers find influencer marketing very effective if done correctly. While considering the budget for their digital marketing expenses, influencer marketing finds its place.
What is to be gained from influencer marketing?
Reach the niche
Influencers tend to have a concentrated type of similar set of followers. This makes it easier for the marketers to reach the target audience. Though other tools of digital marketing may allow it but no one does it better than influencer marketing.
Quick and easy way to generate quality traffic
Influencer marketing can drive quality traffic to any firm’s website or social media accounts. Especially if you put in a unique discount coupon code in the picture (or vlog if that’s where you are headed). The traffic driven by these influencers is better since people who have visited your site via them have an intent to purchase or at least want to explore your products more.
Better ROI
It has been observed that influencer marketing tends to generate a better ROI as compared to other methods of digital marketing. Since the quality of the traffic is also so much better, it’s a cherry on top.
How to select the right influencers?
Likes and not just followers
While an influencer may have a million followers, the average likes might not just add up to it. An influencer with half a million followers might have equal or maybe even more average likes on their posts. It makes sense to look at the engagement generated by the influencer before signing them on (after all you want to stay away from the fake followers).
Variety of products an influencer has promoted before
If an influencer has just promoted a shampoo or an acne removal cream, it makes no sense for her/him to promote the same category of a different brand. However, this doesn’t matter much when it comes to promoting experiences like a restaurant, club or a hotel. Therefore, it’s better to look at the previous products promoted by the influencer.
Your target audience
Do you want to target the fitness freaks? Or fashionistas? Or an average person looking to eat good food? There’s an influencer that caters to all these sets of people. This is the most basic thing however, sometimes I find travel bloggers in my feed promoting eye-liner so I thought I’ll just throw this out here.
Parting words
While influencer marketing can have a lot of dimensions to it but this post had to end (unlike the reading materials in some of my courses #mbalife). Influencer marketing has become a relevant digital marketing strategy for the marketers but it should not become the only marketing strategy. Do not park all your eggs in one basket. Or as the finance people say, diversify the investment, minimize the risk and maximize your return.
What are your views on influencer marketing? Love to hear them in the comments below!
unabashedblabber 
Great article… Interesting read
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