Have you ever wondered why all these funny people with hilarious content appear in your news feed or YouTube search?
Content that starts with regular moments but ends up directing you to a specific product or service? Also, have you ever been impressed by someone with amazing persuasive skills who taught you how to operate certain software? In both cases, you’ll notice significant “likes” and engagement on the videos, but the “artist” in the video is NOT a celebrity!
Welcome to the world of influencer marketing!
The term “influencer” can sometimes have a negative connotation. However, when added to ‘marketing,’ it opens up a world of positive opportunities for brands and marketers alike.
So what is influencer marketing? If we were to describe it, it would mean “a form of marketing that uses an influencer to promote, educate, entertain or engage an audience with a brand, product or service.”
But then again, who exactly is an “influencer”? Simply put, an influencer is any person from any niche or industry with a significant following who can change a brand’s buying scenario or market conditions.
An influencer can only be a food blogger, video content creator, travel blogger, make-up artist, favorite actor, or athlete. In this case, an influencer is usually a person who can influence the target group of a specific niche or market. So, more often than not, it is typically non-celebrities that affect online or social media platforms.
Numbers that Speak for Influencer Marketing
As they say, statistics tell compelling stories that give a person an accurate picture of what has happened and can happen. Below are some notable statistics reflecting the new growth of influencer marketing:
The Influencer Marketing Industry can soar to an incredible $16.4 billion by 2022.
Influencer Marketing managed approximately $800 million in funding in 2021, a significant step to cement its authority in the market.
The number of influencer marketing and related businesses worldwide grew by 26% in 2021, reaching 18,900 businesses worldwide.
Fraudulent Instagram influencers have decreased significantly over the past few years, down by 49%.
Globally, more than 75% of marketers plan to set an exclusive influencer marketing budget in 2022.
2021 saw a significant increase in influencer acquisition, where brands were interested in paying influencers for their services. There is now an even split between financial payments and free products for influencers, which is remarkable.
Most brands prefer the same influencers in different campaigns
It seems that about 68% of marketers plan to increase their spending on influencer marketing in 2022
Instagram is currently the most popular platform for influencer marketing, with almost 80% of brands working with influencers.
The conversion rate most often measures the success of influencer marketing to sales.
Why Influencer Marketing is So Hot Right Now
As the statistics above show, influencer marketing is the thing in marketing, and it doesn’t look like it’s slowing down anytime soon. But why does it work? Let’s look at seven reasons for its success:
Content is king, and influencers know how to do it
Influencers can attract their audience to their “promotion.” So you don’t have to think about how it would be better to present your product, service, or event to the audience. Content creators create engaging content for the target audience based on life experiences and events and help brands engagingly present their products.
The engagement rate is flying high.
Influencer marketing campaigns boost RO and increase engagement by making more people aware that your brand exists by visiting your website or social media pages; signing up for newsletters; and, most importantly, monitoring your site and social media channels. All this helps brands grow and brings business growth and happy management. Additionally, teaming up and working with different influencers will help find new, practical advertising approaches as an added benefit.
Customers trust influencers more than they “distrust” ads.
Undoubtedly, as many surveys show, a large number of online users use ad blockers for security reasons. However, people usually don’t prefer ad blocking when it comes to blogger posts or influencer content. Since the posts are interesting to them, they don’t even care if the post is promotional. They go all in and help brands get a good exposure. A huge advantage, no doubt!
Influencers connect more than brands themselves.
An emotional connection can turn life upside down. Obviously, influencers can emotionally connect with audiences more than brands themselves. Brands can set up strategies to increase revenue or reach, but influencers can understand deeper issues and human thoughts that resonate more strongly with target audiences. Only humans will have the emotional intelligence to connect deeply with other people. Influencers also add more authenticity to promotions than brand promotion alone. It’s one thing to claim to be good; it’s another thing when someone else says you’re good. So easy!
The loyalty of the “few” works more than the interest of the “many.”
Influencers don’t need millions of followers to convince people to buy a product or service. Instead, a strong group of niche followers, even as few as ten thousand followers, can make a different
game altogether. A particular product or brand does not need millions of buyers
considered profitable. Instead, ensuring a long-term relationship and creating value between the brand and the consumer makes a better reputation and more robust market survival. And this is best determined by the emotional connection and influence that the influencer generates.
Influencers are always excited to interact.
Unlike established celebrities, who are usually busier in promoting their career or work, influencers often interact with their followers. It creates a sense of belonging among followers. This makes a soft corner for the influencer who thinks of him as “one of us.”
New ideas, new solutions
Influencers use their influence to show consumers they need and appreciate innovative solutions to existing problems. The ideas that create a new perception with a new offering are even more intriguing. Consumers get inclined toward different services and products across online platforms, allowing influencers to stimulate interest and awareness of brands.