We are all aware that we’re living in economically uncertain times, which often lead to budget cuts. But marketers know economic downturns are times to rethink to reduce the risk of lost revenue and get ahead of competitors. Not only, but now even more in these uncertain times, influencer marketing (IM) with Kingfluencers is a certain solution thanks to four key attributes of IM.
1. Affordable
Influencer marketing campaigns can be launched without huge budgets.
For some channels, even the thought of planning hurts – for huge campaigns or classic TV spots only the production of the ads takes several months and is very expensive! With print ads, it’s difficult to reach a sizable portion of your audience without a big budget. But with IM, it’s possible to get a lot done even with a relatively low budget, particularly in Switzerland. Swiss influencers earn fair compensation while remaining an affordable marketing channel for brands of all sizes.
Spending on influencer marketing has increased continuously over the past few years and is estimated to reach around €477 million in Germany. The compound annual growth rate (CAGR) in the period from 2019 to 2024 is around 23 percent (only direct payments to Creators are taken into account here, the actual market value is even much higher).
Globally, advertising spending in the influencer advertising segment is estimated at around €24.59 billion in 2022.
Just recently we implemented campaigns where we reached so many people with a small budget. One campaign started with a budget of 5k (3.8k base budget + 1.2k boosting budget) and reached over 230k people, an engagement of 11.4%, and more than half a million impressions! Another case also showed insanely good results with a budget of 15k and 5k boosting budget – the campaign reached over 1.7 million people and impressions of over 2 million.
2. Fast
Influencer marketing campaigns can be executed much faster than most other forms of advertising. With Kingfluencers, your campaign can be designed and executed successfully in a matter of a few weeks
While we’re already in the last quarter of the year, it’s not too late to launch a campaign that can help drive additional revenue for the remainder of 2022. IM is an ideal solution for struggling marketers to navigate these challenges.
For example, Sympany, one of the leading Swiss insurance providers, decided to run an end-of-year influencer marketing campaign to generate additional new leads and customers. Kingfluencers managed the entire project, which took 5 weeks from ideation to finish. 21 influencers across multiple social media platforms made posts consisting mostly of videos. The campaign achieved an engagement rate of 3.4%, a reach of 1.229M, and generated 3,025 qualified leads.
Last year, Kingfluencers worked with Uqoniq Chefs, a premium culinary delivery platform that connects iconic chefs to food lovers around the world. The project kicked off on December 3 and less than three weeks later, the campaign was already live and generating an impact. A variety of influencers was chosen, including nano-influencers, and all created high-quality content. The results show the community was interested in Uqonic and exceeded all forecasts, including 654.4k impressions, 202.6k reach, and 2.6k clicks, a full 100% above forecast.
3. Agile
In addition to getting up and running fast, influencer marketing campaigns can be adapted quickly.
Once you’ve started a campaign, you don’t need to stay locked in, committed to every choice for months down the line. Some marketing channels require large commitments upfront, but IM remains flexible. You can continue to move fast, reallocate budget, and make changes as desired or boost with some budget to generate an even higher reach.
Of course, some planning is necessary, such as onboarding influencers and scheduling their time, but IM delivers unbeatable speed and agility. Kingfluencers IM services also take a data-driven approach, enabling us to make quick improvements to optimize your campaigns and maximize ROI. Kingfluencers launches successful campaigns, making our clients heroes in their company.
Eyeglasses maker AFFLELOU works with Kingfluencers to expand brand awareness in French-speaking Switzerland and generate new customers. Influencers were selected to inspire the audience with cool looks and give the brand credibility and familiarity. The campaign achieved a total engagement rate of 3.72% so far (the campaign is still running).
4. Effective
Influencer marketing is an excellent way to connect with your target audience. Studies indicate that every 1 Euro spent on IM generates 5.2 Euros in return/sales. IM achieved 11X the ROI of banner ads. According to a survey by Influencer Marketing Hub, 90% of respondents believe IM is an effective form of marketing. A recent Statista survey shows that around 60% of Swiss companies and organizations already rely on influencers.
Traditionally, advertisements have been a deviation from the content audiences want to consume. Ads and content were distinct. IM breaks this paradigm. IM is a different game altogether, and not just another media channel. Influencers are real people within settings that people relate to. 4 in 10 millennial YouTube subscribers say their favorite influencer understands them better than their friends. By launching IM campaigns that earn a high ROI, you can prove your expertise as a skilled marketer contributing to the top and bottom lines.
In today’s highly volatile world, marketers need to be extra agile and balance a budget-conscious approach with the need to keep communicating in an impactful way. Influencer marketing gives brands a strategic and effective solution to this challenge – a solution that also works on a tactical level and with the caution needed today.
“As marketers, we know that in troubling times, it is even more crucial to keep getting the message out. This can be done very effectively without huge budgets or months of planning with creative IM and influencer content repurposing via TV ads and performance marketing.”
Khartoon Weiss, head of global agency and accounts at TikTok recently described the app in an interesting manner during her keynote at the Gathering marketing conference. “The audiences that love and build and create and connect with TikTok, they say they check Facebook, and they check Instagram and they check Twitter and they check Snap and they check things. But they don’t check TikTok. They tell us they watch TikTok.” Weiss argued that “you can’t TikTok and…” meaning users aren’t able to simultaneously TikTok and text, Zoom, watch TV, etc. —in contrast to Instagram or Twitter.
Numbers released in October 2022 show a 14.6% increase in TikTok ad reach year over year.
Recognizing this paradigm, TikTok advises, “Don’t make ads. Make TikToks,” inviting brands to be more creative and authentic, and create content that truly speaks to people. Apparently many brands heed this advice, achieving great success. Kantar’s Media Reactions Report ranked TikTok #1 for ad equity, topping the list for delivering branded content that actually resonates with online consumers.
24% of those surveyed in Germany bought at least one product or service in the last year because it was advertised by a YouTuber, and 19% as a result of advertising by an influencer on Instagram. Even ads placed on social media platforms don’t have the authenticity of influencer content.
Build more trust, and ultimately brand love
People trust and connect with other people… even ones they don’t know. According to Nielsen, 92% of those surveyed trust people more than brands (even if they don’t know the person!) Additionally, as published in Forbes, people are significantly more likely to trust a company whose CEO and senior executives are active on social media.
Spread the love by including more credible authentic voices. Enrich your brand advocacy with powerful tools such as user-generated content, cool creators, and corporate ambassadors. Elevating multiple voices that present different angles and narratives boost not only the visibility but the credibility of your brand. IM is an effective tool to generate awareness and drive revenue, while also contributing to the much larger goal of brand equity. As consumers grow to love your brand, they share that love in a self-perpetuating cycle.
Expand your Reach & Connect with your Audience… Even with Budget Volatility
Thanks to its effectiveness and high return on investment (ROI), IM enables you to achieve your goals without a huge budget. More than 50% of marketers surveyed in the Swiss Influencer Marketing Report, find companies that make use of IM compared to other forms of advertising realize a higher ROI.
With well-managed campaigns from Kingfluencers, you can target the right people on a large scale without a large budget. Ad spending in influencer advertising is projected to reach US$94.29m in 2022, with the Statista analyst opinion concluding, “influencer advertising has become more important than ever for connecting a brand with consumers and driving sales.” Reserve some budget for IM, and you can achieve the same or even better results for each marketing franc spent.
Maximize ROI with Efficient Use of Content
Influencer marketing itself is an effective market tactic and Kingfluencers has many tools to optimize outcomes. But with an omnichannel approach, you can repurpose existing IM content to achieve your goals while also saving money.
You can build on the effectiveness of IM to generate yet more effective marketing.
Boost your stories across various, additional channels to expand and amplify reach. Leverage content you’ve already created with various influencers and amplify outcomes with the best-performing assets. Using IM takes your ads from boring anonymous promotions to relatable content people respond to and interact with.
Combine the Power of Video, TV & Influencer Marketing
With “Influencer TV Spot” as a new exclusive advertising format, Kingfluencers, and Admeira give all brands the opportunity to broadcast your influencer marketing content as a TV commercial. Merge the power of TV with the trustworthiness and appeal of IM to gain unbeatable reach at an accessible cost.
The first Influencer TV Spot premiered on July 13, 2022, on SRF2 with content from Ochsner Shoes. According to Frank Zelger, CEO of TV marketer Admeira, “this new form of advertising was able to optimally extend the social media campaign and also generate additional reach with a high purchase intention.”
In Uncertain Times, Influencer Marketing is a Certain Solution
Because influencer marketing is an effective, affordable tactic, you can rely on it in good times and in bad. Economic sickness and health. Uncertain and stable. Kingfluencers pulls it all together in a way that’s impactful for your brand. While it might be more difficult to get budget approved for larger initiatives with high price points and requiring commitments of multiple months upfront, IM is accessible and agile. When senior management is contemplating cutting your marketing budget, IM is an excellent line item to retain– or even increase. Contact us if you’d like further support justifying budget, including projecting campaign outcomes. We furthermore have exciting insights and successful case studies that can give you an even deeper insight!
Author: Megan Bozman, Owner @Boz Content Marketing