5 Signs Your Business Should Be Using Influencer Marketing

In 2022, influencer marketing was a $16.4 billion dollar market. With major brands focusing their marketing budgets on influencers, is it time for your business to start doing the same? Here are 5 signs that your business should be using influencer marketing and UGC.

First off, what is influencer marketing?

Influencer marketing is a newer form of marketing that involves a collaboration between a business or brand and an online influencer. Depending on the contract’s terms, the goal of influencer marketing is either set to product/service sales or brand awareness.

What are some benefits of influencer marketing?

If major brands are doing it, there must be some merit, right? Well, here are some reasons why businesses are investing in influencer marketing over traditional marketing:

• Higher ROI
• Higher trust factor amongst millennials and gen z
• Influencers help brands establish social proof
• They provide authentic and creative content 

So, how do you know if you should be investing in influencer marketing? Here are 5 cues to consider.

1. You have a clear niche and are looking for exposure to new audiences

Influencers typically work within a niche and have fairly curated audiences. If you know your ICA and have a clear niche, working with an influencer who speaks to those individuals gives you a direct line of access to people who are expressly interested in your product/service.

2. You’re working with a limited budget

As we mentioned previously, influencer marketing can be much more economical than traditional forms of marketing. If you’re working with a limited budget and don’t have a ton to spend on advertising, influencer marketing might be a good compromise on value.

3. You’re looking to establish honest communication and transparency on social

Last year, we talked about why social listening matters, and while your social media strategy should definitely incorporate components of it, influencer marketing can help facilitate deeper conversations. Influencer marketing gives your business greater reach and based on the response of a larger audience demographic, your brand managers can pull more accurate insight on what your customers think. From this data, you can then make adjustments to your social media marketing strategy.

4. You’re working with limited resources to create content

There’s no doubt about it: as a business owner, you have to create content. But if you’re pressed on time and funds, influencer marketing can be a great way to marketing and content creation into a two-for-one.

5. You’re hoping to introduce a new product/service or need to share a timely message

The best thing about influencer marketing is the buzz that it can generate. With more individuals talking specifically about what you want them to talk about, your audience can’t help but understand your cause a little better. This creates a time-sensitive hype that you can then leverage for your campaign.

If these five points resonated, then maybe it’s time to implement influencer marketing. Reach out and we can chat a little more about whether or not this social media tactic is best for your business!