If you own a digital agency or are a social media professional who creates content for your clients, this is for you. Marketing today is…
Influencers involve involvement and are profitable.
Grow your business, Not in the Inbox
Stay informed and join our daily newsletter now!
3 min read
Opinions expressed by Entrepreneur contributors are their own.
Coronavirus has thrown the advertising industry into disarray. Offices are closed and staff work from home. Productions have been postponed or canceled. Marketing budgets have been reduced. The traditional way of doing things is over, which means this is the perfect time to invest in influencer marketing, which is effective, efficient, agile and leads to results.
In terms of measurable ROI profitability, influencer involvement has a much higher score than brand content. Branded videos on Facebook have a average viewing time of 4.57 secondswhile influencers receive tens of minutes. According to recent studies, influencers are more reliable (not to mention much cheaper) than celebrities or athletes between Gen Z and Millennials. Under normal circumstances, these are excellent reasons to work with influencers. Given today's landscape, here are some other reasons.
Related: How to create Instagram your not so secret sales weapon
Influencers still produce
Given the bans on large congregations, few productions happen. However, customers still have needs. Influencers create a unique solution because they are the distributor of talent / director / producer / editor / DP / media. They were created better than anyone to create content with limited resources – they have been doing it for years.
Influencers are cheap
Brands and agencies are tightening their belts in preparation for a recession. Influencers also feel the impact. Campaigns are delayed or canceled. A recent report shows that Influencer prices will fall by 25%. Consequently, you can work with influencers cheaper than ever.
The involvement of influencers is required
At the same time, influencer prices are falling, their audience is growing. With much of the world forced inside, the use of social media is rising sharply. Facebook and Instagram recorded a 50% increase in streaming. Twitch's advertising grew by 31 percent in two weeks. YouTube viewing in the US increased by 63%. Influencers benefit from this, it seems that some have noticed a 76% increase in "likes" on Instagram-sponsored posts.
Related: What, why and how of programmatic advertising (and 5 tips on using it)
Influence marketing works
With everyone forced to shop online, influencers drive more purchases than usual. Data from affiliate marketers showed an increase in sales through influencers. SmartCommerce reported a 30 percent increase in orders, and competitor RewardStyle saw a similar increase.
But agencies should tread carefully
While the benefits are clear, I pay attention. Given today's landscape, agencies need to tread carefully. Not all influencer marketing is the same, and the best programs are collaborating with trusted partners. Influencers are people, and some may act irresponsibly (and very publicly), while others use their platforms for good. Choose wisely.
In a "home-based" world, advertisers and agencies scramble to create fast, cheap, low-dollar promotional stuff – just the things influencers have been doing for years. More than ever, this is the time to invest in experts.