For the last two decades, social media has become part of our daily lives and a vital way of businesses advertising their products and services. There is a broader audience online, and it’s only right to get into influencer marketing to promote your brand awareness. Influencers are those people with a large loyal following through the content they create. Statistics show that 89% of marketers say that returns on investment with influencer marketing are better than any marketing strategy.
Cody Jefferson, an entrepreneur, public speaker, life and business coach, in a podcast, confirms how powerful it is to leverage your business with influencer marketing. He is the founder of Embrace the Lion, a coaching and consulting company focused on increasing the impact, influence and income of kingdom-minded entrepreneurs and businesses. Cody is a top-ranked keynote speaker, with over 500 stages under his belt, and his impressive skills in leadership and business growth have generated over $250 million in client revenue. He is a writer for Forbes, The Good Men Project and coaches a community of over 4,200 high-achieving men in business. Here are the exciting facts of scaling your business as an influencer.
A broader market exists online with an average of 10 percent increase annually.
The internet as of October 2020, had around 4.66 billion active users, according to a study by Statista, which is about 59% of the global population. Mobile internet users account for 91% of total internet users. From the year 2005, internet users have been growing by an average of 10% annually. Internet users spend over 140 minutes online in a day. Instagram, a famous influencing platform, has over 1 billion users, according to research by Rochelle Bailis in big commerce. Facebook has over 2 billion active users, according to research by the Digital Marketing Institute. A study by Insider Intelligence Statistics in 2019, influencer marketing contributed to $8 billion of wealth. These statistics justify the wide range of clients that a brand can attract from influencer marketing.
Influencer Marketing is 18 times cost-effective.
Influencer marketing highly saves on the cost compared to other traditional marketing methods. Research by Influencer Marketing Hub in 2020, shows that marketers would get returns of up to $18 for every one dollar they spend with influencers. 19% of marketers will pay $1,000 – $10,000 annually in influencer marketing according to research by bigcommerce.com. Influencer marketing is cost-friendly as brands with fewer funds can also get tremendous returns.
It has high Returns on Investment.
Research shows that on every one dollar spent on influencer marketing, you get $18 returns on investment. Returns on Investment from influencer marketing is a great way to gauge your business. The market also amassed revenue of $8 billion in 2019, with influencers having a loyal fan base, it’s easier to turn them into customers and promote a brand’s awareness hugely.
It’s easier to build trust and reliability.
Promoting your business through influencers is a powerful tool of marketing because influencers have a loyal fan base. Anything they advertise is much likely to be put into consideration by their followers. Influencers can scale followers as they ensure they are reliable. Most influencers get to try out the products of the brands they are advertising, and will therefore ensure they put much effort into promoting a brand, maintaining customer loyalty.
It is interesting
Influencers love creating content and promoting brands’ awareness. It’s their passion. As compared to the 9-5 job where rules bind employees, employees have the freedom to try anything they wish to put out there and be creative. Most influencers also get projects of promoting brands in the fields in which they create content. Passion commands, and it makes it more comfortable in making conversions for brands. They find life in leading people.
In conclusion, it is necessary to use influencers in promoting brands products due to the above reasons. Influencer marketing is excellent leverage in scaling your business, as seen above. Every company should at least invest in an influencer to get the most out of sales. To connect with Cody Jefferson, follow these accounts.
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