It doesn’t matter if your company is B2B or B2C because both B2B and B2C brands can use influencer marketing. Influencer marketing helps brands gain and retain customers, increase brand awareness, and expand their reach.
Regardless of the type of company, it also helps brands tap into new markets and increase their revenue generation. In fact, brands can generate $12.21 in revenue on every $1 spent on influencer marketing.
Brands Who Mastered Influencer Marketing
Several brands serve as proof of the impressive ROI of influencer marketing. But, for now, let’s have a look at three brands that nailed their influencer marketing campaigns and managed to increase their reach and ROI.
Like B2C brands, B2B brands can also leverage the power of influencer marketing. All you need to do is think out of the box, just like Microsoft. For example, on the eve of International Women’s Day, Microsoft collaborated with travel photographers and National Geographic for their campaign.
Microsoft intended to motivate young women to work in Science, Technology, Engineering, and Math (STEM) fields. So, as part of their campaign, Microsoft released 30 beautiful images with the adventure story of a woman scientist in each post.
National Geographic decided to share amazing images with powerful stories on their Instagram handle. The photos received a whopping 3.5 million likes in just one day. And Microsoft managed to reach out to nearly 91 million people, proving the ROI of influencer marketing.
2. Daniel Wellington
Daniel Wellington is one such brand that does not use traditional marketing strategies. Instead, they only leverage influencer marketing to increase their reach.
In 2018, they collaborated with micro-influencers to increase their engagement rate and boost ROI. They also broadened their selection criteria for influencers to expand their reach.
So, basically, it did not matter to which niche the influencers belonged as long as they could generate a good engagement rate. With this strategy, they managed to gain 1.5 million engagements per year.
3. American Express
It isn’t easy to promote something like a credit card, as it’s extremely challenging to create engaging content. So, what did American Express do to promote its brand? Rather than promoting the product – Amex Card – they decided to promote the lifestyle. Clever move.
American Express collaborated with influencers to create visually appealing pictures and lead interesting lives. In addition, the brand used a “fear of missing out” strategy to motivate its target audience to sign up for the card and experience a luxury lifestyle that American Express can offer.
This strategy helped American Express to generate 3.7 million engagements per year – yet another demonstration of the ROI of influencer marketing.
How You Can Measure The ROI Of Influencer Marketing
Like these brands, you can also implement influencer marketing, generate higher revenue, and increase your reach. But are you struggling to calculate the ROI of your influencer marketing campaign?
Do you want to know more about the ROI of influencer marketing? Check out the infographic by Grin to understand more about the ROI of influencer marketing.
Brian Mechem is COO and Co-Founder of Grin, a software solution for companies that run influencer marketing programs. Grin’s software powers some of the best influencer programs globally, providing insights on ROI and adding efficiency to the influencer marketing process.
YouTube Channel: https://www.youtube.com/channel/UCT-3pHQHoSz8zw7bCZxMcRQ