How Influencer Marketing Can Solve Your Performance Marketing Challenges in 2023
With a track record of success, influencer marketing has become a non-negotiable channel for social media marketers over the last decade. Now, in 2023, influencer marketing is becoming an even bigger priority for businesses, as a growing number of performance marketers tap into the channel to boost ROI while minimizing customer acquisition costs.
If you’re still unsure about investing in influencer marketing as a growth channel, keep reading to see how influencer marketing can solve your performance marketing challenges this year and beyond.
Influencers provide targeted reach.
Want to improve targeting? By collaborating with the right influencers, you can ensure that your brand message reaches a highly targeted audience that is more likely to convert.
Because influencers often have a specific niche or demographic they cater to, they can resonate with consumers in a more meaningful way than your brand’s typical advertisements. You can work with creators in very specific niches to hyper-target those communities. For example, while there is a bigger online beauty community, there is a micro-community within it that specifically loves clean beauty. If you’re a clean beauty brand, you can work with a creator who typically touches on this topic to create reviews, UGC, and more.
Not to mention, many creators have established credibility and trust with their followers. So when they promote a product, their endorsement comes across as a personal recommendation rather than a faceless advertisement, which can significantly impact purchase decisions.
Influencers can create high-converting content to supercharge your ads.
Today, consumers are bombarded with ads on a daily basis, leading to ad fatigue. But influencer marketing brings a fresh approach by presenting your products in a context that aligns with the influencer's usual content, which helps maintain consumer interest and engagement.
More importantly, the byproduct of influencer marketing, influencer-generated content (IGC) also provides you with a goldmine of high-quality assets that can be repurposed in your paid ads, empowering you to optimize ad spend and hugely impact your ROAS. Influencer content is high-quality, provides social proof, and gain 4x higher click-through rates when used in ads.
Particularly by leveraging IGC in Partnership Ads, you can stretch the impact of your existing content and boost performance with little effort. In fact, Meta’s study showed that Instagram Partnership Ads see:
- 82% probability to win for purchase outcomes
- 3.9% lower cost per purchase
- 2.4x conversion lift
As content creation costs get more expensive, it’s time to put your dollars where they matter. Work with influencers to create high-quality, high-performing content at scale, then repurpose it to boost all of your branded channels.
Influencer marketing is trackable in real-time.
As marketers, we know firsthand how difficult data accuracy and attribution can be. Properly attributing conversions and actions to specific marketing efforts can be challenging when you’re running multi-channel campaigns with complex customer journeys.
The good news is that influencer marketing is becoming much more data-driven, allowing brands to track not only top-of-funnel metrics like impressions and views, but also bottom-of-funnel actions like clicks and conversions. In fact, if you run your campaign through Aspire, you gain access to our full suite of measurement and ROI tools, which allow you to measure the effectiveness of your influencer marketing campaigns and make better, more data-informed decisions going forward.
Influencer marketing is a great way to diversify your channels.
Oftentimes, performance marketing relies on a few dominant platforms, such as Google, Amazon, and Facebook, which can be risky if those platforms change their algorithms or policies. By working with influencers across several different social platforms, you can diversify your marketing efforts and reap these benefits:
- Avoid dependency on any single channel. By spreading out your budget across multiple channels, you can avoid burning away your budget on a platform that can potentially fall flat and future-proof your marketing campaigns.
- Create multiple touchpoints with your audience. Work with a variety of influencers across multiple channels, whether they’re TikTokers, Pinterest creators, or bloggers, to engage current customers and find new ones across many different platforms.
- Source a diverse array of content. Influencers can create content that looks native to each channel, complete with the right dimensions and formats. This high-quality content can then be repurposed on channels outside of social media, such as your website, email, or even out-of-home activations.
In sum, influencer marketing is a powerful solution to the many challenges that performance marketers face today. Its ability to provide authenticity, engage target audiences, and deliver measurable results makes it an essential tool in a modern marketing arsenal.
Want to learn more? Download The Secret to Efficient Growth to learn how to structure your influencer campaigns to supercharge ROAS and minimize CAC.