One of the most popular and effective ways of Digital Marketing in today’s era is through Social Media Marketing. As social media marketing is rising, so are the various ways to carry it out. Influencer marketing is a type of social media marketing wherein individuals who are present on particular platforms have garnered a social following making them experts in their niche. For example, a beauty influencer will have a following of other individuals who are interested in makeup or beauty products. The same would be applicable on other categories such as sports, fashion, travel, food, and so many more.
Earlier, being an influencer on social media was a hobby that many individuals took up because it was something they enjoyed. Although today, for many people globally, it has become their career. This is a big plus point for brands because endorsements, product mentions, shout-outs, etc. is what these influencers are best at, it is what they do!
In the year 2020, the influencer marketing industry is set out to be worth $10 billion! That’s a massive number but then again it is continuing its growth and some of the biggest brands on a global scale rely on this approach. One of the other benefits of this type of marketing is that nowadays you can hire influencers based on which platform you want to target customers from, and as you may all know, the number of platforms existing as of now are tremendous. They include:
- Snapchat
- Twitch
- TikTok
- YouTube
On these platforms, there are different types of influencers that a brand can target:
- Nano Influencers – these are the individuals who have a following up to 10,000 people on their social media accounts.
- Micro Influencers – these are the individuals who have a following between 10,000 to 100,000 on their social media accounts.
- Macro Influencers – these are the individuals who have a following between 100,000 to 1,000,000 on their social media accounts.
- Mega Influencers – these are the individuals who have at least 1,000,000 plus following on their social media accounts. Typically, this could also include the celebrity category.
There are still many brands that choose to opt for the traditional methods of marketing and branding, but what they tend to forget is how personal influencer marketing is. The factor of trust is also included in this. People, no matter what age, would trust a product far more when someone they like, love and follow shows them to use it rather than seeing it in a commercial or in a magazine.
Apart from this, influencers have come up with creative ways to endorse and provide information about a brands’ products. This could be unboxing of a new Apple iPhone or doing a makeover with Maybelline’s new line of makeup. Due to this, people who view their favourite influencers using products, they then feel the desire to buy it and use it as well.
Influencers tend to put in a lot of time and effort into their social media postings. Many times, a 10 second story on Instagram takes 10 hours of planning. This is how precise influencers are because at the end of the day, this is their work. And so, the trust factor works both ways, a brand can trust an influencer and so can the people following them.
Trends in marketing are constantly changing but influencer marketing is here to stay and is only heading towards growth. Now is the time for brands, big or small, to minimize their expenses and maximize their reach with this approach to marketing!