Are You Missing Out on Sales Without Influencers?
With Facebook surpassing 1.8 billion in active users and Instagram drastically growing to over 600 million at the end of last year, social media is definitely the place to find your next buyers.
But how do you get them to trust you right away?
This type of marketing allows you to build trust almost immediately by having an influencer in your space vouch for your product to their fanbase. With the trustworthy referral by the influencer, these fans will most likely purchase your product and become loyal buyers.
How Influencer Marketing is Growing
According to a survey released by a PR firm, 57% of one thousand internet users over the age of 16 have made a purchase based solely on an influencer’s recommendation. Other findings:
- Millennials are the highest age group at 69% to purchase based solely on an influencer’s referral
- The average consumer spends 1 hour and 12 minutes viewing online content produced by influencers
- Those age 45+ enjoy health and travel sectors from influencers, whereas millennials look towards influencers for entertainment, retail, and technology.
With all this growth, brands are taking notice – over $255 million is spent on influencer marketing every month (Forbes). And it’s only set to increase even more as brands realize that 92% of consumers trust an influencer’s recommendation over an advertisement or celebrity endorsement.
What Your Next Step Should Be
Is Influencer Marketing right for you? Chances are that it is, especially if you are in the eCommerce space. But just to be extra thorough, let’s run a simple test.
Log into your Google Analytics for your website:
- Go to Acquisitions
- Click on Referrals under All Traffic
- Start looking at who is referring traffic to your website and their performance.
Is it a blog? A news site? Social media channels?
If you find that bloggers and social media are already referring you quality traffic then why not expand in those areas with influencers?
Once you decide to allocate a budget to influencer marketing, you’re ready to start the more time-consuming steps: 1) Curate the bloggers and influencers who fit your brand and 2) Reach out to them to see if they would be open for a partnership.