A decade ago, the influencer marketing space was dominated by celebrities and a few devoted bloggers.
Now, it appears that we have seen social media influencers rise, saturate the market, and even become involved in fraud.
If you’ve done any research on influencer marketing before,
you’ve probably come across contradicting information,
with suggestions ranging from “definitely use social influencers” to “they’re not necessary for growth.”
Influencer advertising methods are more challenging to understand as a company than ever before, but we’re here to help.
Continue reading to find out if influencer advertising is right for you.
What is Influencer Marketing?
Influencer marketing is a sort of social media marketing.
That relies on endorsements and product mentions from influencers–individuals.
Who has a large social following and are regarded as experts in their field.
Influencer advertising works because social influencers have a high level of trust with their followers.
And recommendations from them act as a sort of social proof to your brand’s potential customers.
Influencer Marketing Statistics
• In 2021, influencer marketing predicts to be worth $13.8 billion.
• Businesses get a $5.78 return on investment for every $1 invested in influencer advertising.
• Since 2016, there has been a 465 percent spike in searches for the phrase “influencer advertising” on Google alone.
• Influenceradvertising is considered effective by 90 percent of study respondents.
• Instagram use by 67 percent of brands for influencer advertising.
• In the previous five years, 1360 influencer marketing platforms and agencies have entered the market.
What works in Influencer Marketing
• Consider your strategy for influencer advertising carefully.
• Be organized, develop a strategy, plan, and budget, and devote time to study.
• Determine how you want to find influencers: organically, through a platform, or an agency.
• Be patient and human — people talking to people, not businesses talking to businesses.
What doesn’t work in Influencer Marketing
Generalizing your technique to locating and utilizing various influencers.
One size does not fit all when it comes to influencers:
customize your strategy to the individual influencer.
Simply looking at the influencer’s popularity.
Influence may not always imply popularity.
Keep in mind that your goal is to evoke a specific action from your clients.
Don’t simply assume that the people who have the most followers are the niche’s influencers.
The value of influencer marketing
While Instagram influencer marketing is a well-known method, there are numerous additional networks for influencers that are rising in popularity. According to Adweek,
the sector will be valued at $10 billion by 2020. Other networks, such as Snapchat, YouTube,
And TikTok, have their own set of influencers with varying demographics.
Mediakix, an influencer advertising agency, surveyed marketers towards the end of 2018 to find out how they felt about influencers in the next year.
89 percent of those polled believed the ROI from influencer advertising was equivalent to or better than that of other networks.
According to the same report, 65 percent of marketers intend to increase their budgets in 2019.
Influencers are here to stay,
but the way the world of influencer advertising looks and operates has changed dramatically in a short time,
and the world of influencer marketing in five years may seem very different from today.
This guide will assist you in developing your strategy, but like with any social strategy, you must be prepared for change.
If you want to construct a marketing plan, you can contact Nummero, a top digital marketing agency in Bangalore.