Currently, influencer marketing is the buzzword in the marketing world. Instead of relying on advertisements, companies are now looking for influencers to get their products in front of the right audience.
You’ve probably seen advertisements for everything under the sun. The question is, do you remember any of them? Everyone is bombarded with advertisements on a daily basis. As a result, 763 million devices globally have reported using ad blockers. The audience has built up immunity towards them or are irritated by the same. This causes massive loss to companies allocating major chunks of the marketing budget to advertising.
That’s why influencer marketing is becoming more valuable because it’s harder to ignore. So much so that even big corporations are tailoring their marketing strategies to the ever-changing landscape.
This blog examines whether or not influencer marketing is capable of superseding conventional advertisements.
Influencer marketing vs Advertisements
When you think of advertisements, what comes to mind?
Prior to digital advertising and its iterations, a few print and media outlets were the best resorts for marketers all around. Television, newspapers, radio, magazines, and billboards are a few examples of traditional advertisements.
Gradually, these ads turned digital in the late 1900s and early 2000s, especially after the debut of Facebook Ads in 2007. Of course, you may need help from SEO professionals that will help your brand thrive on various websites and social media platforms. Recently, marketing has taken a swift turn towards a new niche – influencer marketing.
Influencer marketing, in simple terms, means driving your brand’s message to a larger target audience through online content creators. This niche has mushroomed hand-in-hand with content marketing and social media marketing. The growth of influencer marketing has been remarkable in the past few years.
Let us have a look at a few key factors that break down the rise in influencer marketing campaigns.
Authenticity
The main purpose of any marketing campaign is to establish trust amongst the target audience. Approximately 84% of millennials neither appreciate nor trust traditional advertising. The younger audience yearns for authenticity and relatability.
They find that genuine reviews from an influencer on the other side result in more conversions. The user can interact with the influencer and get an appropriate communication channel. This is often missing in the case of advertisements.
These authentic voices trump faceless print or digital advertisements. When such honest opinions about your brand start floating around from the audience’s trusted influencers, you build sincere brand awareness.
Reach and Engagement
The real-time engagement and reach of influencer marketing are its most commendable assets. You can bank on the influencer’s prevailing connect to ensure guaranteed engagement with your brand.
The added factor of an emotional connection is missing from advertising apart from a few video ads which cost a fortune to create. Various social media platforms like Instagram, YouTube, and TikTok have given a platform to many content creators.
There are different categories of influencers that you can associate with for a long-term partnership. Micro-influencers prove to be the best choice for audience engagement as evident in the image. They remain relevant throughout and help build a loyal community for your brand.
Engagement Rates – Source
Tracking and Analytics
The end goal of both advertisements and influencer marketing campaigns is the same. The clickstream generated by online influencer marketing presents a great opportunity as opposed to its offline counterpart. You can assign actual dollars to these shares and clicks and track the impressions of each campaign.
You can gauge the ROI for influencer marketing through analytics like:
- Engagement rates
- Clicks, conversions and impressions
- Reach
Whereas, the impact of advertisements is difficult to keep a track of. It can be done by:
- Coupon codes that tie to a specific ad
- Dedicated landing pages and assertive CTAs
- A contact number where the leads can reach for more information
The only difference between them is the speed with which you can assess the ROI. Thus, the impact of hard-hitting conventional ads should not be undermined based on the multi-step time-consuming process.
Cost
This aspect has proven to be a major booster for influencer marketing. The traditional advertisements warranted a large production budget which was reduced significantly with the help of influencers.
The micro and nano influencers presented numerous opportunities for all small and medium enterprises. They can make the most of the social media boom and invest in influencer marketing for greater returns. Companies are generating $5.2 on every $1 invested in influencer marketing.
Nevertheless, pre-produced video advertisements are still as much a part of every company’s marketing campaign as ever and are not likely to be replaced by influencer marketing.
Summary
Both influencer marketing and advertising are essential for any company looking to expand its reach. With all of the tools available to us today, there are limitless opportunities to market your brand.
Influencer marketing is just one of the many tools you can use. It is a great way to reach your target audience and create a marketing campaign that builds on the credibility of those who already hold influence. Create an ever so important personal relationship with the consumer through a balanced mix of influencer marketing and advertising campaigns.
About the Author: Ronak Kothari is the founder of RONKOT, a full-service digital and printing agency specializing in web design, development, and digital marketing. With over a decade of hands-on experience in marketing, Ronak helps brands reach new heights.