Influencer Marketing Basics
We mentioned earlier (here, here, & here) that we're launching a full-scale Zagreb-based Influencer Marketing service by the beginning of September.
In this article - we're:
Sharing insights and shedding light on why this business model makes sense
Why you should consider this approach for your business
Brooke Lark on Unsplash.
How Can Customers Find Your Product Or Service?
When discussing social media, there are two ways for customers to discover a product, service, or a place (caffé, restaurant, bar, shop):
An advertisement - similar to countless others and what other brands are doing
A figure/persona you trust and have followed for some time endorses it
Now, envision this second approach expanded on a grand scale for your business.
You'd enlist reliable individuals who introduce your brand and products to potential customers.
As DesingRush puts it: collaborating with influencers offers a powerful avenue for broadening your outreach, tapping into a bond between content creators and their dedicated audiences. This proves particularly advantageous for brands entering new industries or specific niches.
This is Influencer Marketing
According to research, each dollar invested in influencer marketing yields around $6 in revenue, equating to (an impressive) 600% return on investment (ROI).
This achievement is nearly unparalleled compared to paid acquisition strategies, particularly in a landscape where Instagram ads often result in customer acquisition costs (CACs) that rarely fall below $20.
Influencer marketing possesses the potential to:
Outperform paid ads in terms of profitability and scalability as an acquisition channel.
When Using The Term "Influencer Marketing," What Exactly Do We Mean?
It's a collaboration between businesses and people who have an impact.
They team up to promote things like places, products, services, or campaigns.
Think of influencers as a varied bunch, from celebrities to everyday folks with a following on platforms like Instagram, YouTube, or TikTok.
Uniqueness & Creativity
What brings them together is their ability to create content that people care about.
How Does It Work?
In the influencer marketing story, it's usually a 3-step process:
Find influencers who fit your message
Influencers make content to show off products or services to their followers
Companies compensate influencers for their efforts and exposure
With Lighthouse Advisory's Influencer Marketing Service, we do all of that for you - so we handle the whole process of finding the right people, negotiating with them, and connecting brands.
One-Stop Shop
Why You Should Consider It?
If you're still thinking about why you should use this approach, here are four great reasons why you should consider it:
Boost Conversions: Build an affiliate team of influencers who can boost your conversion rates.
Expand Your Social Reach: Gain followers from influencers' audiences, extending your organic reach.
Show Social Proof: Partnering with influencers is a sign of trust for their followers.
Access Additional Content: Influencers craft content you can repurpose for other campaigns.
Fuel growth
Through influencer marketing and unlock new levels of success.
How Companies Leverage Influencer Marketing:
HVMN partners with fitness YouTubers to target supplement buyers, aiming for better ROAS (return on ad spend).
Athletic Brewing teams up with outdoor influencers on Instagram to cater to health-conscious beer seekers, aiming to foster community and brand recognition.
Moncler, a fashion brand, collaborated with fashion influencers and composed a TikTok song. It went viral, captivating the fashion-savvy audience and boosting impressions.
The Hustle engaged tech Twitter influencers to drive signups for their tech newsletter, focusing on conversion and higher ROAS (return on ad spend).
Which Companies Should Consider Using Influencer Marketing?
Influencer marketing works best for B2C companies, especially ones that operate in physical (brick-and-mortar) locations.
Companies looking to expand their social media presence and boost those channels
For our Zagreb-based service, we're collaborating with caffés, restaurants, bars, shops, and D2C brands
If you’re looking for:
- strong ROAS (return on ad spend)
- want to create, build, and maintain community
- prioritize impressions and awareness
- create unique and quality-based content
You should consider Influencer marketing as an excellent avenue for achieving these goals.
To learn more about the depth of our services, explore further details here.
Or, if you're eager to kickstart a conversation and explore how our service can align with your brand goals, feel free to contact us directly.