Influencer marketing has taken the world by storm in the past couple of years. Whether it be for an energy drink, a teeth whitening kit or even a self care product. We now have the ability to reach huge audiences instantaneously, in almost every niche imaginable. Not to mention the foundation of strong relationships with their audiences already in place — the potential of influencer marketing is truly uncapped.
Having entered the world of business at the start of 2019, I was quickly exposed to the power of influencer marketing. When I was approached by two Melbourne-based entrepreneurs to run their current business, so they could focus their time and energy towards a new venture, I snapped up the opportunity in a heartbeat. In just a matter of months, I was witnessing the birth of one of the biggest brands on social media in 2019.
What most would consider an incredibly risky venture, there were certainly some very stressful times in the early stages. With all their cash flow and savings being pumped into the business, it didn’t take long before money became very tight. But as the saying goes, “The lights always darkest before the dawn”.
With an elaborate influencer marketing campaign set up and underway, it wasn’t long until things took a huge turn for the better. I arrived in the office one morning greeted with elation after they’d scored 70 sales overnight from one of their influencers. The momentum had begun.
It wasn’t long until they were selling hundreds, even thousands of their products per day. Within 5 months of making their first sale, they hit the 7-figure sales mark. Having witnessed it all since day one, there was a lot I was able to learn from the experience.
How did a brand doing no paid ads, do 7 figures in sales in 6 months? Well… you already know the answer — influencer marketing. With the trend of influencer marketing becoming utilized more than ever in 2019, it begs the question: why does it work so well?
Despite being through a mobile phone, social media can feel incredibly intimate. When you follow your favorite influencers and keep up with their daily lives through their posts and stories, it can feel so real and as if they are speaking directly to you.
Influencer marketing has been shown to increase brand awareness, increase engagements, attract new audiences, and even inspire loyalty. We all know the power of human interaction and connection, and how much emotion drives our behaviors. Consumer psychology has been revolutionized through influencer marketing and it’s no surprise when someone you’ve grown to trust says “OMG this is the best product ever, you have to try it” and then you well… buy it.
In order for someone to do business with you, they have to know, like, and trust you. Without trust, you won’t make a sale. Influencer marketing is all about leveraging the relationships influencers have with their audience. Would you be more inclined to buy something from someone you’ve (virtually) interacted with daily, or some stranger on a TV commercial? I’ll let you think about that..
Another reason why influencer marketing works is that most influencers create high-quality content. Rather than blow through your marketing budget trying to create an awesome promo video, let the influencer do all the work (or lack thereof) for you. With social media taking over how we market and advertise products, TV & radio advertising is becoming a thing of the past.
Using relationships and emotion to drive customers to your business is crucial if you’re looking to grow your brand in 2020. If you aren’t investing in influencer marketing for your business, you’re leaving a lot of money on the table.