Influencer Marketing: Worth up to $15-BILLION BY 2022

- Why influencer marketing is still effective

BY CAT CARSTENS, PR & INFLUENCER MANAGER FOR FRANC GROUP (PTY) LTD

INFLUENCER MARKETING BOOMED IN 2020

If lockdown taught us anything, it was that social media and whom we follow can keep us entertained and informed for hours. 2020 was the year that many brands realised that the influencer marketing model is well-matched in a time in which the audience is looking for inspiration, learning or trying out ‘self-care’. Going into 2021, statistics show that there is no slowing down, with estimates that the influencer industry is on track to be worth up to $15-billion by 2022, up from as much as $8-billion in 2019. While the economic damage brought by the pandemic has slowed the expansion of more traditional media, influencer marketing has boomed. Marketers should not underestimate the trust that is being built at this time between influencers and their communities.

INFLUENCER MARKETING AT PLAY

For our client Franc, an easy to use investment app for first time investors, influencer marketing played a significant role in the marketing mix. To set the scene – 2020 was the year that many South Africans realised that they should have been investing a long time ago - in the 2 months of level 5 lockdown alone, Franc’s investor base grew by 51%.

Running concurrently to this, 2020 was the year we started focusing more strategically on influencer marketing, and the results we received were far reaching. We used a small pool of nano-influencers and tasked them with the goal to generate interest in our investment app, communicate the importance of investing to grow our social media and garner app installs. Throughout the year, we were able to achieve a significant number of clicks to Franc’s app store, new app users and page growth.

INFLUENCER MARKETING & SOCIAL MEDIA MARKETING

Influencer marketing should ideally work hand in hand with your social media marketing team. If an influencer is drumming up conversation with their audience about your product or service, you need to be able to join in? By using the right influencer and by being a part of the conversation, an influencer can fill the gap between your company and potential customers, making you stand out among other businesses. Such a strategy is community-focused and can have a big impact on your growth and future engagement on social media.

SOME GUIDELINES TO FOLLOW

While it is vital to consider which social platform works for your brand, one platform has cemented its standing. Instagram’s community has reached one billion monthly active users and 90% of consumers follow at least one business on the platform. It would be futile to ignore the power of influencers on Instagram. It is also important to consider an influencers engagement and other “WHILE THE ECONOMIC DAMAGE BROUGHT insights, as a large following

BY THE PANDEMIC HAS SLOWED THE does not always translate into EXPANSION OF MORE TRADITIONAL MEDIA, results. Aside from the vanity INFLUENCER MARKETING HAS BOOMED.” metrics, an influencer marketer must look at and analyse the data to ensure an influencer is the right fit, so as to come up with a successful marketing plan.

INFLUENCER MARKETING IS NOT FADING AWAY

Influencer marketing is certainly not a fad and it is clear that it is here to stay. It is proving to be an effective form of advertising because people are more likely to engage with content if it’s coming from someone they’ve actively chosen to follow. So when that influencer shares something about a brand or product, their followers are already invested in what that influencer has to say.

Influencer Marketing not only has the ability to bring a company closer to its end customer, but makes it more approachable for the audience. Consider adding influencers as part of your media mix to add a human-touch to your brand and make the experience more personalised and credible.