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Influencer Marketing

What Is Influencer Marketing And Why Is It Becoming So Popular?

Have you ever bought a product or service because someone you admire has recommended or used it? This is influencer marketing.

 

Influencer marketing is now a well-established form of marketing which can also be referred to as ‘branded content’. It involves a brand collaborating with an online influencer to market a product or service.

 

Statistics from Statista show that the influencer marketing market size has grown from $4.6 billion in 2018 to $16.4 in 2022. This ever-growing marketing strategy will only increase in size as a result of increased social media use and the demand for more trustworthy product advertisements.

The Growth of Influencer Culture

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WHAT MAKES SOMEONE AN INFLUENCER?

 

An influencer is a person with the ability to influence potential buyers to buy a product or service from a company by recommending or promoting it online. They tend to be people with a large following on social platforms who publish engaging content.

 

However, people with a large following do not always necessarily make the best influencer. In fact, a lot of accounts with fewer followers have higher engagement rates. This is because their audience is more interested in their specific content which therefore makes them engage with their posts more.

 

Celebrity endorsements were the original form of influencer marketing. Nowadays, someone does not have to be a celebrity to be an influencer, they just need to have a reputation and a recognised online presence.

 

An influencer can be anyone with as little as 3,000 followers on a social media platform. These people usually have a certain type of content that they post with a niche audience to match it.

 

For example, @thelittleblogofvegan is an Instagram page which shares vegan recipes and products. This influencer also writes blogs and has recently published a vegan recipe book. The majority of the audience for this influencer’s content will be vegans, people who are interested in becoming vegan or people that may want to try vegan food options.

 

 

View this post on Instagram

 

A post shared by Holly Jade (@thelittleblogofvegan)

 

There are different categories of influencers. These categories are based on the number of followers the accounts have.

These categories are:

  • Nano-influencers: these are influencers with 10,000 followers or less. For example, @senorguapo713; a model, athlete, actor, and fashion influencer
  • Micro-influencers: these influencers have a following between 10,000 and 100,000 like fitness coach Peter Mac (@pmacfitness).

  • Macro-influencers: these accounts have between 100,000 followers and 1 million followers. An example of a macro-influencer is travel enthusiast, @voyagefox.
  • Mega-influencers: aside from celebrity influencer accounts, these are the influencer accounts with the largest following above the 1 million mark. Zoella is a popular example of a mega-influencer.
  • Celebrity influencers: these are celebrities who are paid to promote products and services. A very well-known celebrity influencer is Selena Gomez. Gomez has an impressive Instagram following of 402 million people.

 

WHY IS INFLUENCER MARKETING SO POPULAR?

 

Influencer marketing is an effective way to build brand trust and credibility. Influencers are seen as a non-biased, third-party source so customers tend to trust their recommendations. They will also be protective of their followers which means that they would not promote a product or service that they did not genuinely believe in. This strengthens brand reputation and improves credibility.

 

Brands can choose the platform they wish to advertise on. There are many social media platforms to choose from when advertising a product or service. The growth of influencer marketing has meant that there are influencers present on most of these platforms such as Instagram, Twitter, TikTok, YouTube etc.

 

Currently, the most popular influencer marketing platform is Instagram. 67% of brands use Instagram for influencer marketing. Instagram offers various types of posts such as photos, carousels, reels, stories, and live video. This makes it a popular platform for influencer marketing as there are many options for how a brand can reach its audience.

 

Whilst Instagram will remain popular, the up-and-coming social media platform for influencer marketing is TikTok. It was discovered that at the end of 2022, TikTok had more than 1 billion monthly active users. As more people discover the platform, more brands are utilising it for influencer marketing.

 

 

Influencer marketing can also boost conversions and enhance search engine rankings. When promoting a product, an influencer may leave a direct link to your website on the post. This will drive more traffic to your website and will therefore boost your online rankings. Similarly, this will boost conversions as the buying process is made easy via a direct link to the product.

 

Another way in which influencer marketing will boost your conversions is through their audience’s trust. Some consumers may be apprehensive when buying a product from a brand they have never used before. Yet, if an influencer they trust recommends it, they are more likely to buy the product, thus boosting conversions.

 

 

View this post on Instagram

 

A post shared by Giggle PR (@giggle_pr)

 

Statistics conducted by The ROBO Economy showed that 82% of smartphone users consult their phones on products before making a purchase and 45% of people read reviews about a product before purchasing it. Influencer marketing is another way of providing this type of guidance as it is a type of word-of-mouth. Followers trust the influencers that they admire as they are seen as ‘real people’ in comparison to a faceless brand.

 

8 out of 10 consumers have purchased something after they saw an influencer that recommended it.

 

Influencer marketing is a practical way to reach your target audience. As mentioned above, there is a wide variety of audiences that brands can target via influencer marketing. Generally, each influencer will have an audience that is particularly interested in the content that they produce.

 

For example, people following @jessejameswest more than likely have an interest in fitness and lifestyle. This means that brands whose products or services fit within a fitness and lifestyle category can approach this influencer and offer him a deal to promote their products. This ensures that the brand will effectively reach its target audience.

 

Finally, influencer marketing amplifies your brand awareness. This is a prominent reason why a lot of businesses use influencer marketing. Due to their high follower count, influencers can increase brand exposure with just one post. If they have a high engagement rate, their followers are likely to take their recommendations into consideration and purchase from the brand.

 

2022 displayed how effective this method of marketing can be and this strategy will only increase in popularity as brands become more aware of the many benefits that influencer marketing could have on their business.

 

If you have any more questions or are interested in how your business could benefit from influencer marketing, don’t hesitate to get in touch.

 

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