What Is Influencer Marketing?
Influencer marketing is the strategic process of researching, identifying and engaging with highly influential individuals on social media platforms who create high-impact content about your brand’s products or services. Influencers are trusted figures within their niche community that retain a loyal and engaged following on their social media channels. When they endorse and post content about a product or service, they are seen to possess knowledge and experience about what they are advertising to their followers.
For example, a popular fashion blogger on Instagram with in-depth knowledge about Asymmetrical Dresses might be asked by a brand to post their Instagram wearing a particular garment. On some occasions, social media influencers might not have any knowledge or experience that is relevant to what they are advertising. When it comes to this situation, they basically rely on the loyalty of the followers they have built within their community.
When influencer post to their social media channels they create their own original content and integrate a brand’s advertising specifications into the content The influencer is ultimately in control of the brand’s promotional message by choosing how they would like to represent it. This helps to create authenticity and a message that ultimately influences their community of followers. The most popular influencer categories amongst brands include fashion models, celebrities, photographers, comedians, food bloggers, artists and adventurists.
Why Is Influencer Marketing So Important for Brands in 2019?
Before digital advancements and the acceleration of new innovative and disruptive technologies, television was literally the only mass media channel that consumers had access to and was the primary platform for brands to advertise to a mass audience. However, as social media has grown over the past few years, consumers now have a plethora of different choices and the freedom to choose how they consume content. And, with this comes the challenge for brands. As their target markets spread out over the various forms of social media, the result is that it becomes increasingly more difficult to reach them with a marketing message. And, that is precisely why influencer marketing is so important and why you need to take advantage of it this year. Let’s take a look at the stats to this to prove this.
By 2020, Influencer Marketing will Become a $10 Billion Global Industry
There no denying that influencer marketing is a rapidly growing global industry with more and more brands will to invest in it. By as early as next year the global influencer marketing industry is set to be worth $10 billion which means that brands will be battling with each other to establish partnerships with influential social media users. However, not all influencers have mass followings, and this certainly isn’t a bad thing. This creates an opportunity to partner up with micro or nano influencers.
Over 20% of 18-34 Year-olds Make a Substantial Purchase after Seeing an Influencer Endorsement
The majority of people are mostly influencer by personal recommendation from their friends and family. But, influencers can still affect their consumer habits. The younger generation is influenced more by social media influencers. In fact, over 20% of young adults say that they have made a substantial purchase after seeing a product being endorsed by a social media influencer. So, if you are a brand that is looking to reach a younger user base, then influencers can help you boost sales.
Three-Quarters of Marketeers Think That Measuring ROI Will Be The Key
Measuring the return on investment from influencer marketing is one of the key challenges for brands and marketers. That’s exactly why the future of influencer marketing depends on the ability to prove that it is a successful digital marketing process and that the budget spent on it is justifiable compared to the return.
Almost 20% of Marketers Will Allocate Half of Their Digital Marketing on Influencer Marketing
Although this percentage may seem relatively small, it does prove that influencer marketing is expected to continue growing and an impressive rate. Considering that influencer marketing is the newest form of digital marketing and the fact that businesses are willing to dedicate this much of their budget shows how much they believe in influencer marketing.
So, What Are The Other Reasons To Use Influencer Marketing In A Nutshell?
Influencer marketing is going to continue growing in 2019, and the statistics mentioned in this article proves this. But, what are the other reasons for using it as a means of generating sales for your brand? Social media platforms show the main social networks to engage and influence the users to get positive results for your brand.