Top 5 Influencer Marketing Benefits

Influencer marketing has rapidly ascended to the forefront of digital marketing strategies, proving a powerful tool for brands of all sizes. According to eMarketer’s US Creator-Driven Commerce 2024 report, “over 8 in 10 (82.7%) U.S. marketers will work with creators or influencers on social media in 2024.” 

By leveraging the credibility and reach of influencers, brands can achieve unparalleled engagement, foster authentic connections, and drive significant business growth. In this blog, we delve into the top 5 benefits of influencer marketing, which include allowing a brand to connect with a previously unreached audience.

Understanding the various benefits of influencer marketing can help your brand decide how to use it and how to shape an influencer marketing strategy that will let you best take advantage of its benefits.

Top 5 influencer marketing benefits

Here’s how influencer marketing can elevate your brand strategy by leveraging authentic connections and targeted engagement to drive substantial results.

1. Influencer marketing reaches where traditional ads don’t

Banner ads, commercials, and other forms of traditional advertising don’t have the reach or impact they once had. Adroll reported the average click-through rate on display ads is less than 1%. Around 65 percent of people skip the ads that play during or before online videos. Influencer marketing gives brands a way to work around traditional advertising. It allows you to connect with people who would otherwise not give a brand a second look.

Our Influencers & Discount Clubs 2024 report also found that influencer posts have the most significant impact on product consideration across all age groups but are particularly effective with younger demographics. 

2. Influencer marketing actually influences people

Another benefit of influencer marketing is that it inspires people to take action. According to IZEA’s Trust in Influencer Marketing 2024, 51 percent of all respondents have made a purchase after seeing a product used by an influencer, and 40 percent of the younger population turn to TikTok to research a product before purchasing. 

3. Influencer marketing lets you reach a specific, targeted audience

Influencers, particularly nano-and micro-influencers, usually connect with a very specific audience. Partnering with the right influencer can help your brand reach an audience it has previously neglected or hasn’t been able to reach. 

4. Influencer marketing runs on trust and authenticity

Trust is significant in influencer marketing. Without trust, influencer marketing won’t work. Influencers, particularly micro-influencers, are seen as more credible and trustworthy than others on social media. Additionally, 61 percent of consumers said that they’d trust recommendations from influencers as close as they would with friends and family, whereas 38 percent said they’d trust recommendations from a brand. Working with influencers is one way to make sure your brand is being seen in a trustworthy light. 

Our research has also shown that the authenticity of an influencer’s content is the factor that most increases consumer trust in their product recommendations. 

5. Influencer marketing can have a high ROI

From a dollars-and-cents perspective, one of the most significant benefits of influencer marketing is its potential for a high return on investment. According to the Digital Marketing Institute, influencer campaigns have a 650% return on investment (ROI).

Measuring success in influencer marketing

Measuring the success of your influencer marketing campaigns is critical to understanding their value and impact. To gauge effectiveness, you need to track specific metrics and assess the return on investment . Here’s a guide on how to effectively measure success in influencer marketing:

Key metrics to track

1. Engagement: This includes likes, comments, shares, and saves on social media posts. High engagement rates indicate that the content resonates with the audience.
2. Reach and impressions: These metrics show how many people have seen your content and how many times it has been displayed.
3. Follower growth: Tracking the increase in social media followers during and after the campaign can indicate the campaign’s influence on your brand’s popularity.
4. Website traffic: Use tools like Google Analytics to measure the increase in website visits driven by influencer content.
5. Conversion rates: Monitor the number of desired actions (e.g., sales, sign-ups) taken by users who interacted with the influencer’s content.
6. Sentiment analysis: Gauge the overall sentiment towards your brand by analyzing comments and feedback.
7. Sales Lift: Measure the increase in sales directly attributable to the influencer marketing campaign. This metric helps you understand the tangible impact on revenue.

IZEA’s Tracking Tools in IZEA Flex

To streamline the process of measuring these metrics, IZEA offers robust tracking tools available to both full-service and self-service software clients through IZEA Flex. These tools simplify the integration and tracking of key performance indicators for your influencer marketing campaigns.

• Sales, traffic and sign-up tracking: By integrating with platforms like Shopify or Google Analytics, IZEA Flex allows you to track precise data regarding how many sales, sign-ups, or other conversions each influencer in your campaign generates. This data is pivotal in calculating the ROI of your influencer marketing efforts.
• Real-Time Analytics: With real-time analytics, you can monitor the ongoing performance of your influencer campaigns and make necessary adjustments promptly to maximize results.
• IZZY: Our AI assistant built for influencer marketing, IZZY can help with strategy and analysis of campaigns. It goes beyond providing predictions by offering the confidence and rationale behind its inferences. It delivers the transparency crucial for informed decision-making, providing detailed context about influencers, their audience, and their content. This ensures marketers understand the strategic “why” behind every recommendation, empowering them to make more informed and effective choices.

Examples of effective influencer marketing campaigns

Here are a few examples of brands that have successfully harnessed the power of influencer marketing to drive engagement, expand their reach, and achieve remarkable results.

NHTSA Speed Campaign: Slowing Down for Safety

The National Highway Traffic Safety Administration (NHTSA) and IZEA launched the “Speed” campaign with a crucial mission: to encourage males aged 18-34 to stop speeding by emphasizing the risks it poses to them and their loved ones. To achieve this, a comprehensive cross-platform social strategy was employed, targeting emotional and logical aspects of speeding. The campaign’s strategy hinged on creating relatable and impactful content that would resonate with the target male audience. By leveraging diverse influencers from various fields, the NHTSA sought to touch both the heart and mind of young male drivers. Using this multi-faceted approach allowed the NHTSA Speed campaign to achieve broad reach and significant engagement. By connecting with the target audience through various lenses—family, sports, and gaming—the campaign effectively conveyed the serious risks of speeding in a relatable and memorable way. This strategic synergy of emotional and logical appeals proved to be a powerful tool in promoting safer driving habits among young males.

In a campaign for Dunkin’, influencer Dani decided to satisfy her fall cravings by heading to her local Walmart to pick up some Dunkin’ Pumpkin Munchkin Creamer. She shared her delightful in-store experience and at-home transformation on TikTok with her 917K followers, creating a buzz around the seasonal product. This campaign stands out for its engaging visuals, seamlessly providing a balanced mix of in-store shots and at-home preparations, making it visually appealing and relatable. Dani’s video tells a compelling story, starting with her craving for a fall-themed treat and culminating in the creation of the perfect DIY drink. By showcasing her genuine personality and excitement, Dani effortlessly integrates the Walmart brand into her content without making it feel forced or scripted. This seamless blend of storytelling, visual engagement, and authenticity makes the Dunkin’ Pumpkin Munchkin Creamer campaign a fantastic example of effective influencer marketing.

Whether you’re trying to maximize revenue, improve your brand’s image or make more connections, influencer marketing benefits can help you reach your goals.