What is the first thing that comes to mind when you hear the word "influencer"? For most people, it's probably a celebrity or social media star with a lot of followers. But what exactly is an influencer? And more importantly, what can they do for your business?
Here we'll explore the world of influencer marketing and answer those questions. We'll also look at the ROI possible with influencer marketing and the success Fifth & Cor has had through influencer marketing. So if you're curious about this growing marketing trend, read on!
What Is Influencer Marketing?
Influencer marketing is a form of marketing in which brands collaborate with online influencers to promote their products or services. Influencer marketing can be used to improve brand recognition, drive product awareness, and increase sales. Businesses can work with influencers to create content that will reach a large number of people, boost engagement, and ultimately lead to more sales.
Influencer marketing is a win-win for both businesses and influencers. Businesses get to benefit from the large following that influencers have, while influencers get to work with brands they love and make money from doing so. If you’re thinking of using influencer marketing to promote your brand, it’s important to find the right influencer who will be a good fit for your brand and who has a large enough following to make an impact.
What Kind of Small Business ROI Is Possible With Influencer Marketing?
Influencer marketing has become one of the most popular, and effective, marketing strategies in recent years. And it’s no wonder why — on average, businesses generate $6.50 in revenue for each $1 invested in influencer marketing.
But what kind of small business ROI is possible with influencer marketing?
Seventy percent of businesses make $2 or more in revenue for each $1 spent on influencer marketing, and 13% make $20 or more. That’s a very good return on investment!
And it’s not just big businesses that are seeing results from influencer marketing — small businesses are seeing great results too. In fact, 59% of small businesses say that they have seen a positive return on their investment from influencer marketing and plan to increase their budget in an attempt to increase their small business ROI.
So, if you’re thinking about using influencer marketing to promote your business, you can expect to see a good return on your investment. Just be sure to choose the right influencers for your target audience and create campaigns that are aligned with your business goals.
How Can Small Businesses Have Influencer Marketing Campaigns?
As a small business, you may be wondering how you can get involved in influencer marketing. After all, it seems like something that would be more suited for large businesses with big budgets. However, there are actually quite a few ways that small businesses can have successful influencer marketing campaigns — and without breaking the bank.
One of the best ways for small businesses to get started with influencer marketing is to partner with micro-influencers and nano-influencers. These are people with smaller followings who are typically more engaged with their audience than larger influencers. They're also often more sales-oriented, which makes them ideal partners for small businesses looking to boost their small business ROI and bottom line.
Another great way for small businesses to get involved in influencer marketing is to focus on developing relationships with influencers. This can be done by engaging with them on social media, attending events they're speaking at, or even just reaching out to them directly. If you can build a strong relationship with an influencer, they'll be more likely to promote your business to their followers.
What Success Has Fifth & Cor Had With Influencer Marketing Campaigns?
Fifth & Cor has helped Retail Shoe Company boost their social media presence and foster a community of brand advocates alongside engagement and conversions. Fifth & Cor approached these challenges with a multi-pronged strategy that included influencer marketing campaigns.
The team at Fifth & Cor worked with Retail Shoe Company to identify key influencers in the fashion and lifestyle space who would be a good fit for the brand. Then we created customized campaigns that were aligned with Retail Shoe Company’s overall marketing goals for each influencer.
The result was a series of successful influencer marketing campaigns that generated significant engagement and conversions for Retail Shoe Company.
Our social media strategy included:
Using lifestyle photographs and visuals to authentically tell a narrative.
A variety of incentivizing efforts are used to expand audiences.
The launch of a Brand Ambassador Program allows for the use of UGC assets across all mediums.
Fifth & Cor’s Results — What We Can Do For You
As a business in this modern age, it is crucial to have an effective digital marketing strategy that includes influencer marketing. Fifth & Cor is a company that specializes in this type of marketing, and we have seen incredible results for our clients.
In just 120 days, our clients have seen a 51% increase in web traffic attributed to social media. This traffic has translated into conversions, with 217% more conversions occurring in the first 90 days, and 455% more attributed to social media in the first 180 days.
These are impressive results that any business would be happy to achieve. Fifth & Cor’s secret is our ability to identify and work with influential people in your industry who can promote your products or services to their large audience. Contact us today to learn more about how we can help you.