THE HYPE OF INFLUENCER MARKETING: REASONS WHY BUSINESSES SHOULD GIVE IT A SHOT!
Influencer Marketing or Influence Marketing is a form of social media marketing categorized in digital marketing services, carried out with an intention of product placements. There was a time when it was exclusive to celebrities and bloggers or people who had genuine knowledge on the particular brand they’re endorsing- but now, with the rise of a good number of social media influencers, influencer marketing is broadened itself to quite a great extent. The intention is to always enhance the reach of the specific brands that approach these influencers. The influencers are asked to try and endorse these products to the large number of audiences following them. These advertisements can be done through short/long videos where the influencers share their views on the product and briefing their audience on why should they go for that particular product. What benefit does all of this social media influencing render? Well, people trust the recommendations of these influencers which is why their persuasion causes a huge surge in the profit that the brands eventually make.
Interestingly, as we may assume social media marketing to be a thing of the present, it may surprise you to know that it always existed since the last 10 years. How? Blogs were (and still are) considered to be a big deal. PayPerPost was the first ever marketplace to pay bloggers on each of their postsespecially the popular ones. Here are some interesting stats based on influencer marketing• • •
Approximately two-thirds of marketers are now actively interacting with influencers As a result of influencer marketing, 67% of marketers want to increase their budgets After seeing an influencer tweet, consumers are five times more likely to boost their buy intent
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It is estimated that 43% of internet users worldwide use ad-blocking software, offering even more opportunity for influencers to capture their attention According to 89% of respondents, the ROI of influencer marketing is equivalent to or greater than that of other marketing methods Influencer marketing will be the most effective marketing trend in the coming years, according to nearly 58% of marketers
TYPES OF SOCIAL MEDIA INFLUENCERS
The various types of social media influencers can be categorized as•
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Mega-influencers: Influencers with a million or more followers. Celebrities are perfect examples. But, now-adays, certain influencers also surpass the range of a million- they too, are categorized as mega-influencers. Mega-influencers- who have more than a million followers, are very prominent on social media due to their celebrity status. They are extremely active on social sites where their target demographic spends time, and they generate a lot of engagement. This is what makes them appealing to firms and this sets a perfect influencer marketing strategy, simultaneously. This also makes them extremely pricey. Macro-influencers: Influencers that have a following range of 500K-1 Million are macro-influencers. Celebrities, TV personalities, sportsmen and certain leaders are examples of macro-influencers.
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Since they may use their reputation to acquire social media followers, companies should anticipate a high price tag- though not as high as mega-influencers. Brands may still reach a huge number of people through macro-influencer marketing platform, but they may not receive the engagement rate they desire. Mid-tier influencers: Influencers with 50K-500K followers are considered as mid-tier influencers. Although, midtier influencers may not have celebrity status, they are still a powerful group of content providers that are trusted by their followers. With audiences ranging from 50K to 500K, this sort of influencer provides marketers with a broader reach and somewhat more interaction than macro- or mega-influencers. Each post is real and recognizable since the content is refined yet not out of date. Micro-influencers: Influencers with 10K-15K followers are micro-influencers. While micro-influencers have a far smaller following than mega-influencers, companies often see this group as far more successful in terms of engagement and trust. This is due to the fact that micro-influencers have a close relationship with their followers and are more niche-focused. A product suggested by a micro-influencer is more likely to be purchased by 82% of consumers. Nano-influencers: Followers ranging from 1K-10K are called nano-influencers. Nano-influencers, with the fewest followers, provide marketers with a limited and likely smaller reach. What businesses lose in reach, they make up for in engagement rates. At 8.8%, nano-influencers have the greatest engagement rate of any influencer type. Because the content is hyper-authentic and tailored for the audience, marketers dealing with this sort of influencer should anticipate a unique experience.
WHAT VALUE DOES INFLUENCER MARKETING HOLD TO BUSINESSES?
While Instagram marketing is a well-known method, there are numerous additional networks for influencers that are rising in popularity. According to a certain study- the sector will be worth billions of dollars in the next years. Other networks- such as Snapchat, YouTube and TikTok have their own set of influencers with various demographics. Influencers can aid at several levels. The amount and sort of support you may expect is determined on your relationship with your influencers. You can naturally expect more from someone with whom you have a paid working relationship than with someone who is simply doing you a favor. The various ways in which influencers help your business grow are• • • • •
Sharing information about you on their social media profiles, such as marketing a post you wrote on your blog Posting Instagram photos or YouTube videos of them utilizing your goods Making an article, a blog post, or a video promoting your product or service Creating promotional materials for your company through writing or video Sharing information about you on their social media profiles, such as marketing a post you wrote on your blog
WAYS TO GET IN TOUCH WITH AN INFLUENCER
If you want to employ a certain celebrity influencer, you won't be able to send them a direct email or contact them straight-up! Instead, you'll almost certainly need to go via social media influencer agencies or negotiate with an agent to assess whether or not that celebrity is willing to work with your business and at what cost. In addition to that, you may also do some research of your own and figure which influencer would be apt for the brand you’re wanting to endorse. This sort of social media influencer marketing is a great strategy that works where you can figure out who’d be the best amongst all. Above all, just make sure that the influencer you pitch should have a certain knowledge of the product/brand you’re about to hand over. This’ll directly affect their way of conveying what you anticipate them to their audience.