What's Influencer Marketing & How It's Influencing The World

Everyone is probably well aware of what an “influencer” is in today’s world. Influencer marketing is an advertising model in which a company pays influencers to promote their products and services for sales purposes. People tend to get influenced by them and follow them when purchasing. According to reports, almost 80% of users have purchased something based on an influencer’s recommendation. [1]

Even though it’s not something that is totally out of the blue in the industry, it has become exceedingly popular in the past few years. As we are advancing day-by-day to the new digital world and technology, influencer marketing has found its spot to lead. Making companies devote more time and effort to the marketing approach than ever before. 

Almost anywhere you checkout, you will find influencers posting their latest snacks, clothes, and makeup brands in the form of tutorials on social media platforms like Instagram or Youtube. 

Why is influencer marketing Important? 

Not so a while ago, when they weren’t advanced technology available around us. Traditional old-school mediums like TV & Radio were the only platforms for marketers to advertise to audiences. But nowadays, the world of the internet and social media platforms has transformed the world of marketing. Influencer marketing is almost similar to social media marketing, as most influencers gather their audience from social platforms. As consumers have total freedom and a variety of options to go for. It can be difficult for brands to target audiences on multiple platforms and connect with them.

Therefore, brands discovered solutions by employing influencer marketing. Influencer marketing has proven quite effective as it helps brands directly target and influence the audience. It’s observed by most brands that influencer marketing tends to bring 11 times more ROI compared to other marketing channels. [2]

Advertising through influencers lets brands promote through a niche community. 

For example, food bloggers eating a certain dish can promote a menu of that partnered restaurant or the restaurant itself as a recommendation. So, influencer marketing is important in the age of social media to prevent the audience from getting bored from watching your back to back. It helps create a trust for your brand and drives amazing results. 

What are types of influencer marketing?

With influencer marketing in place, brands and opinion leaders are developing various campaigns. Let’s explore some famous influencer marketing tactics.

Social media collaborations

In this sort of marketing, social media influencers not only get to promote each other’s product or service but can also attract each other’s audiences in the form of followers, subscriptions, likes, etc. A brand often lets an influencer handle their profile for a day. Another option is to invite an opinion leader to run a stream or  invite on a podcast as a guest, 

For example,  an influencer giving a motivational speech live on a social media profile of an educational institution. 

Affiliate marketing

An affiliate is paid every time customers purchase via the unique link on their blog, social media platform, podcast, or website. It’s a cost-effective strategy because you only have to pay for each customer from their website or social media profile.

So if you thinking of becoming an Affiliate marketer you should go for these steps:

• Choose a Niche. Every affiliate marketer has a niche in which they try to influence their audience.
• Be aware of market demands.
• Analyze the competition.
• Research affiliate programs.
• Pick your marketing methods.
• Create and publish quality content.

 

Sponsored Content 

You may have noticed this sort of influencer marketing on social media platforms. Media mostly tend to go for traditional media channels to create sponsored content. Still, others prefer a direct approach like hiring bloggers or influencers. The reason for brands to go for such a marketing tactic is because it’s relatively cost-effective or the nature of the media channels. Brands pay for publishing a promotional post on the influencer’s profile. 

For Example, You might have noticed a post with sponsored content mentioned above an influencer would be promoting a cosmetic brand by doing a tutorial on make-up.

Unboxing

In today’s world of digital frontier people tend to shift towards online shopping more & more especially after the pandemic hit the globe. Businesses had to shift towards online stores instead of physical stores to keep up the sales. But that’s not it. You need a digital marketing strategy to run an online store keeping in mind that your business exists through online channels like social media. 

Rule of running a successful online business is all about building trust between you and your customer & how’s that possible in this situation? Well, the best way is to engage with your customers and highlight the facts related to your product or service that interest them. That’s why going for unboxing and reviewing videos is a unique and attractive way to grab consumers’ attention, allowing you to show off the full potential of your products. Not being able to physically see the product makes it much more difficult for the customer to choose. Therefore, brands have realized how crucial it is to show the product before the customer gets it. 

For Example, Brands send out products like shoes, watches, and grooming kits to influencers and they review them on their social media platforms. 

Brand Ambassadors

A brand ambassador program is a marketing campaign in which people often get mixed with influencers. In a brand ambassadors program people are mostly targets who already have a particular interest related to your brand or product while when it comes to influencers they are chosen for their direct audience reach. But they both can fulfill the same objectives. They can prove to be very helpful in cases of creating awareness, brand image, and sales as well. 

For Example, A brand can partner with an influencer to give a social awareness message on their social media handle by wearing their product like a shirt, watch, etc. 

FAQs

What is the difference between macro micro and nano influencers?

• Macro-influencers are those who have an established presence but are less well-known. The numbers of followers identify these influencers. A macro-influencer consists of 500 to 10,000 followers. If you intend to target a specific customer or large demographic it can prove to be useful for you. 

• Micro-influencers have bigger social media followings than normal people but fewer than celebrities. Typically, they have over 1,000 followers and under 100,000 followers. They prove to be less expensive, have higher engagement rates and users tend to go for their recommendations. 
• Someone with 1,000 to 5,000 followers is considered a nano influencer. People are usually considered influencers if they have more than 1,000 followers. An influencer with a relatively narrow social circle is viewed as a nano-influencer.

 

What are the benefits of influencer marketing? 

Following are some benefits of influencer marketing,

• Creates brand image & brand awareness
• Helps your business gain quality leads & sales
• Cost-effective 
• Improve content strategy

 

How successful is influencer marketing?

Well according to reports, it is observed that almost 80% of marketers approved and even mentioned that it is somehow even better than any other marketing channel [3].  

Why does influencer marketing work?

One of the sole reasons influencer marketing works out as a gem is that it is based on techniques like word-of-mouth and social proof. It is observed that people purchase more of the product or service if influencers recommend it or give a review about it.

How is influencer marketing changing?

As time passes, consumers’ needs and wants also change gradually. Therefore,  influencer marketing must grow to help businesses meet those needs. Rather than working with multiple influencers on small campaigns and celebrities, more brands are focusing on long-term business with micro-influencers who match their brand’s image.

Final Thoughts

Well as time passes by it’s becoming more & more clear that influencer marketing is not here for a short time but it’s going to stay and grow like wildfire. Until now you would be aware of the fact that influencer marketing is proving to be more effective compared to traditional marketing techniques. It’s less expensive and gets you instant ROI, more traffic, and engagement. 

Also Read:

• What Is Affiliate Marketing & Its Types?
• What is Paid Digital Marketing and How It is Important for Business
• How to Optimize Your Digital Marketing Strategy for 2022

References:

[1] 2019 Influencer Marketing Report – Rakuten Marketing

[2] Metrics to Measure Your Influencer Marketing Performance – OMI

[3] 2021 Influencer Marketing Stats – HubSpot