Influencer marketing is a whole new aspect of B2B marketing taking the world by storm. Businesses have seen rapid and positive growth and are swearing for this entirely new phenomenon. Influencer marketing involves companies collaborating with online influencers for bilateral benefits.
So what exactly is influencer marketing? Let’s figure it out.
Who are Influencers?
When it comes to social media and the internet, influencers play an important role. An influencer is a person who can influence the audience, create an impact and influence the customer’s purchasing habits. There are many influencers who work in different fields and industries while focusing on various niches.
In addition, influencers usually have a large number of followers who are interested in specific topics and follow them due to their expertise in the given field.
Since their followers respect their knowledge and opinion, they impact the audience and have the potential to sway many people. Several companies collaborate with influencers to enhance brand image and achieve more brand recognization and market their product and services with ease.
Influencers have some kind of authority over their followers, which they have built over time through hard work, expertise, analysis, and providing honest and valuable insights about the given field.
For example, a beauty blogger who regularly creates content and shares tips about effective skincare, different skincare regimes are respected and trusted by their followers.
If this blogger suggests a product or swears by a certain quality of a product or makeup, their audience is bound to be influenced and more likely to purchase these products. This way, influencers can easily impact the buying choices of their followers.
In today’s market, all sorts of businesses and companies collaborate with influencers to promote their brand and have a better reach with their audience through influencer marketing.
What is Influencer Marketing?
Influencer marketing is currently one of the largest trends in the wider world of online marketing. It is a unique type of marketing where companies and influencers collaborate to promote the brands.
Influencers act as brand ambassadors to promote business moto and create a brand image. Businesses can improve their brand awareness, sell their products and services with ease, and even create new viral trends through influencer marketing.
Influencer marketing is an excellent way for businesses to reach out to a large group of audiences instead of interacting with each person individually.
Companies collaborate with influencers for their services in exchange influencers market the brand to their large set audience, spread brand awareness, and create brand recognization in the market.
According to Mediakix data, influencer marketing is expected to grow up to $15 billion by 2022 compared to $8 billion in 2019.
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The Value of Influencer Marketing
Let’s say you’ve been binge-watching your favorite series or movies on Netflix and Amazon Prime. Late night, you’re lying on the couch for hours. An ad pops up suddenly your favorite celeb, or social media personality recommends you an app for ordering delicious food with delivery within minutes.
It won’t be surprising if you download the app instantly, not just because you’re hungry, and craving some quality food, but also because your favorite personality has recommended it at the right time. Voila! this is how influencer marketing works, isn’t it amazing?!
Why choose Influencer Marketing?
Here are some ways in which influencer marketing boots business growth.
Unlike traditional marketing television and print media, influencer marketing has more efficient ways to connect with the audience as the internet has become an essential part of our lives.
While TV ads and banners are pretty expensive, influencer marketing is actually very pocket-friendly. Companies pay a nominal fee to the influencer in exchange for an endorsement. Even then, the influencer has more impact on the audience compared to TV or print ads.
Rather than watching an immobile banner or tacky ads, Influencer marketing has the potential to engage customers with their genuine reviews and authentic insights influencers provide. Customers feel personally connected when a person they know and trust recommends a product or service, and it works as a voice they can rely on
In the past couple of years, influencer marketing is growing like wildfire. It has become a weapon of choice for both customers and companies. Where customers reach out for answers and companies use them as a face to answer the questions. Influencer marketing has helped several businesses in the past to increase their ROI and success rate. Some have also claimed as Influencer marketing is the next big thing in marketing.