The Benefits of Influencer Marketing
A deeper look at why influencer marketing is in growing demand from marketers around the world.
Influencer marketing is hot, and the demand for it from marketers around the globe is growing as the number of cord-cutters continues to accelerate.
How fast are we talking exactly? To put it in perspective, 812,000 pay-TV subscribers cut the cord in the second quarter of 2016 according to the LA Times. When you look at the numbers year-over-year, it’s even more staggering; 1.4 million consumers dropped cable between the second quarter of 2015 and the second quarter of 2016.
These consumers haven’t stopped watching their favorite shows, they’re finding them on platforms with little to no commercials like Hulu, HBOgo, Amazon Video, or trading them for other great original entertainment like Netflix, YouTube and others.
And those who still haven’t cut the cord are quick to pull out their phones during commercials, as proven by spikes in mobile app usage during primetime commercial breaks.
The growing amount of uninterrupted content has made conditions prime for influencer marketing, enabling advertisers to become embedded in the entertainment instead of interrupting it. Let’s break down what makes it work.
Trust and Word of Mouth
Trust. This is the foundation that influencer marketing is built on and it works at a few different levels. The first being the trust between an influencer and their audience – necessary to make word-of-mouth marketing so effective. This trust, which has been built up year over year, attracts highly engaged audiences that respect and admire the influencer as much as a close friend would.
In fact, Think With Google reports that the ‘influencer + viewer’ relationship is much more personal than ‘celebrity + fan’ relationships – and this is what makes influencer’s recommendations so meaningful. The hundreds of thousands of subscribers feel levels more connected to an influencer than they do with celebrities, and brands get to benefit from this trust right away by being inserted in the conversation through an influencer’s introduction. With influencer marketing, you’re investing in a highly-targeted, digital word-of-mouth marketing campaign to the audience you want to reach.
Because the influencer’s relationship is based on trust, it is also in the best interest of the influencer to authentically like your product or service before promoting it. Promoting a product they didn’t care for would diminish the relationship with the audience they’ve worked so hard to build and are connected to.
Delivering Incomparable Results
Influencer marketing is delivering crushing results. Alone, influencer marketing is driving 3x the engagement brands are seeing on their own created content. Side note… [and humble brag]… Reelio’s brand partners are seeing 9x the engagement of what brands are seeing on their own created content.
Not only are you more likely to drive people to your site – 92% of the global population trusts another person more than they do a brand direct message – and 74% of those visitors are more likely to actually purchase. Not bad when you think about conversions. It’s also worth noting that for every single dollar spent, brands are seeing $6 returned in earned media.
Keeping Up With the Content Machine
Brands are caught in the middle of a content-consumption era. Everyone is competing for audience’s attention. YouTube users are uploading more than 400 hours of video every minute, and that’s in addition to the hours of content being uploaded on other social video sites, video streaming services and online publications. Without a production and content creation crew, which the majority of brands don’t have, it can be near impossible to generate regularly scheduled, compelling content. Brand’s aren’t set up like production studios and often don’t have the time, money, or ability to create content that’s highly engaging at the rate their audience is expecting it – but influencers do.
Influencer Notifications Are “Baked In” Distribution
Influencer marketing enables content creation and distribution to happen all at once, which means brands start seeing results for their dollars faster than they would had they created content in house and then had to factor in distribution afterwards. Most social sites today also offer the option for influencers to send notifications to subscribers when they’ve uploaded new content. Thus, whenever an influencer uploads content, it’s landing right in the email or the smartphone home screen of the influencer’s most dedicated followers.
Put Your Best Performing Videos In Front of Even More People
Now let’s say you complete a few campaigns and have a set of 10+ videos, but one or two in particular lead in engagements, clicks, or conversions. The influencer had the right tone, the video struck laughs from viewers, the brand message was clear. As a result you experienced a 20% CTR (like Visa) among other awesome metrics. You could then put distribution dollars behind these market-tested videos via a TrueView campaign and easily expand the reach of your best performing content. Content created by influencers and distributed with TrueView has seen 7x the watch time of a standard 30 second t.v. ad. #crushingit