Even though Influencer Marketing is not a new concept in the world of marketing, it has become widely popular in the recent few years. Before going deep into the topic, let us first know what influencer marketing stands for.
It is a type of marketing where brands promote their products through recommendations from influencers and content creators. It can be in the form of social media, blogs, videos, podcasts, and brand awareness campaigns.
In other words, Influencer Marketing focuses on using key leaders or influencers to drive a brand’s message to the targeted market because it is easier to influence people who are already influenced by someone or something.
“Influence is the process of two emotional states coming together.” – Dr. Karen Killer
The platforms where influencers work are Instagram, Facebook, Youtube, TikTok, Twitter, Snapchat, Pinterest, etc.
Influencer marketing works so much better in the current digital marketing era because ‘people trust people’ which is way more than they trust advertisements run by big brands or companies.
Here are the statistics on Influencer marketing.
- The Influencer Marketing industry is to reach $16.4 billion in 2022.
- Instagram is the preferred social media platform for brands to engage in influencer marketing.
- 42.3% of brands view influencer marketing as a success based on conversions and sales.
- 93% of marketers have used influencer marketing.
According to DMI
- 86% of women use social media for purchasing advice.
- For every dollar that is spent, Influencer Marketing campaigns earn $5.78.
- 57% of fashion and beauty companies engage in influencer marketing.
KINDS OF INFLUENCERS:
Influencers need not only be a celebrity, they can also be your regular potential customers. Let’s throw light on different types of influencers on the basis of the number of followers:
- Nano influencers: 10,000 followers or lower.
- Micro influencer: Between 10,000 and 100,000 followers.
- Macro influencers: Between 100,000 and 1 million followers.
- Mega followers: Over 1 million followers.
Benefits of Influencer Marketing:
Influencer marketing is growing steadily for years. This digital marketing trend will continue to grow on a huge scale. It is already very famous now and will be more famous in the upcoming days, months and even years. So now is the best time to execute it.
But why should businesses and brands make use of influencers? This is because there are many benefits of Influencer Marketing.
Reach different niches: One such benefit of influencer marketing is that brands can engage with different demographics through influencers. There are so many influencers throughout the world nowadays. People are growing in their particular niche which gives a better chance of finding influencers of a specific niche for branding your products.
Influencers who are a part of a particular demographic have better insight into the interests and viewpoints of followers from that demographic or niche. Therefore they can be helpful in reaching and successfully engaging with different niches.
Increased Brand Awareness: Influencer marketing helps to raise brand awareness as influencers have a high number of followers. Due to that, they have great reach and can promote the brand and their products to a large number of audiences.
It helps to revamp content marketing: Creating interesting, creative, and relevant content on social media is of utmost importance as that is what grabs people’s attention the most, which helps brands stay relevant and build loyal audiences. Using influencers to promote content always pays off. They help to bring relevance to your content. Not only that, since influencers have worked hard to build their followers, they have a lot of creative and effective content marketing ideas. Taking advice from them on what content to create and what social media platform to use can prove beneficial for your brand.
Partnership with Influencers raising a brand’s credibility: Collaboration and partnership with trustworthy and relevant influencers will be helpful for any brand’s reputation. It supports and lifts a brand’s reliability and trust. When influencers share their opinion in front of an audience about your brand and any product, it gives a real testimonial which helps to build brand loyalty.
Improved search engine ranking: When influencers share the link of your brand’s website on their blog or in any content, it generates traffic to your website which enhances your search engine ranking.
Open transparency: People trust influencers and respect their recommendations. Influencers are showing the reality more which eventually makes more people see and buy from the sponsored content.
Helps in boosting conversions: It can be really difficult to convince people to purchase the products or services of your business, especially if you are new in the market. Using influencers to drive your sales will be extremely helpful. This is because influencers already have an established follower base that trusts their every word. If these influencers are seen using your product, their followers are most likely to try it out too.
The above-mentioned benefits of Influencer Marketing give enough impetus to brands to go for this type of marketing.
HOW TO CREATE STRONG INFLUENCER MARKETING STRATEGIES?
- Outline your influencer marketing strategies and goals like building brand awareness, increasing followers, getting engagement on content, getting conversions, generating leads, and increasing brand loyalty. With influencer marketing, the utmost goal is to reach new customers.
- While working with influencers you have to really understand the influencer scenario and perspective. You have to communicate with every type of influencer. You have to properly observe influencers to understand how they promote brands. This will help you to gather information about influencers and differentiate a good influencer from a bad one.
- Now it’s time to find an influencer that will work for your brand. You have to keep on searching for suitable influencers for your brand. Once you have found the ones who are perfect for your brand, try to communicate and connect with them so that you can target your ideal audience.
Basically, Influencer Marketing is going to stay forever as long as the social media platforms are available. It is expected to grow more in the future. An influencer, or just any normal human being in general, using a product in real life and saying good things about it, is one of the best forms of social proof that any brand or business can employ today.
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