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Bridget Hadfield
Senior Associate of Content Marketing & Social MediaJun 27 2024
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Why Influencer Marketing is Integral to Our Strategy
Influencer marketing is important to our strategy because it allows us to leverage the trust and credibility that influencers have built with their followers. According to a study, "40% of consumers trust a brand because of an influencer, and 63% trust what influencers say about a brand more than what the brand says about itself." These statistics highlight the powerful role influencers play in shaping consumer perceptions. By partnering with influencers, we can reach audiences that might not be familiar with our brand and product offerings, thereby increasing our brand awareness and extending our reach to channels where our target demographics spend considerable time.
Defining Genuine and Authentic Relationships
A genuine and authentic relationship between influencers and their followers is built on relatability, honesty, and realness. Influencers who are transparent about their experiences and genuinely believe in the products they promote are more likely to foster trust with their audience. When followers perceive an influencer as authentic, they are more inclined to trust their recommendations, which can translate into better engagement for the brand.
Selecting the right influencers is crucial for maintaining authenticity. Brands should conduct thorough research to identify potential partners based on engagement rates, audience demographics, relevance, and the content they produce.
NIL Partnerships: A New Frontier
NIL (Name, Image, Likeness) marketing is a relatively new but rapidly growing area. College athletes can now capitalize on their personal brands, which has changed the landscape of college athletics. FNBO supports NIL efforts at the universities we sponsor, aiming to strengthen our collegiate partnerships, gain exposure through athletes' social networks, and connect with passionate followers of college sports.
We strive to form genuine partnerships with NIL athletes by ensuring shared values and natural alignment with FNBO’s brand. We look to partner with athletes who can authentically represent the FNBO brand and connect with their followers in a meaningful way.
Evolution of Influencer Marketing
The landscape of influencer marketing has evolved significantly in response to consumers' desire for authenticity. Brands are now inclined to work with “nano-influencers,” who typically have a smaller but highly engaged following. These influencers can interact more personally with their audience, fostering a sense of community and trust. Engagement rates often tend to drop as follower counts rise, so working with influencers who have a smaller, more dedicated following can lead to higher engagement rates.
A trend that’s evolved in influencer marketing is the emphasis on storytelling. Influencers are sharing personal stories and experiences related to the brands they endorse, which resonates more deeply with their followers. This approach makes the promotion feel less like an advertisement and more like a genuine recommendation.
Success Stories of Authentic Influencers
One notable example of an influencer who has built a genuine relationship with her followers through storytelling is The Savvy Sagittarius. She began sharing her journey of paying off $36,500 in debt over 26 months, a topic not widely covered by other influencers. Her openness and honesty about her financial struggles and successes have earned her a loyal following. Her followers trust her advice and recommendations because they are based on her personal experiences and hard work.
Another great example is of our NIL partnership with former Nebraska Husker volleyball player Nicklin Hames who posted a picture and video of herself with the FNBO Husker Athletics debit card to her account as part of our “Pay Loud and Proud” campaign. Research showed an increase in video views on Instagram and X; an increase in likes to our X and Instagram pages and an increase in visitors to our debit card landing page. NIL partnerships are successful on social media when a brand can leverage the personal connection and trust between influencers and their followers, creating effective and engaging marketing campaigns.
Measuring Success with Influencer Marketing
To gauge the success of our influencer marketing efforts, we track various goals and KPIs, including:
- Link clicks
- Post views, comments, reactions, saves and shares.
- Replies
- Stories tap backs.
These metrics allow us to calculate engagement rates and monitor the effectiveness of our campaigns. Additionally, we measure the increase in FNBO’s social media following, attendance at events promoted by our influencers, and the number of new accounts opened because of the partnerships.
The Future of Influencer Marketing
The shift towards genuine and authentic connections in influencer and NIL marketing is not just a trend but a necessity in today's digital landscape. At FNBO, we recognize the importance of trust and relatability, ensuring our collaborations reflect these values. By selecting the right partners and fostering transparent relationships, we not only enhance our brand's credibility but also create meaningful engagements with our audience. As we move forward, our commitment to authenticity will continue to drive our strategies and define our success.
The articles in this blog are for informational purposes only and not intended to provide specific advice or recommendations. When making decisions about your financial situation, consult a financial professional for advice. Articles are not regularly updated, and information may become outdated.