Only a few years ago, the world of marketing was limited to advertisements, promotion campaigns and a few other conventional and monotonous methods. Then social and content marketing brought a wave of changes, and with it began the era of influencer marketing. Brands are increasingly collaborating with social media influencers for the past five years, across channels to generate awareness. Thus influencer marketing grew from an ancillary marketing tactic to a $5billion+ dollar industry.
What is ‘Influencer Marketing’?
Influencer marketing, in layman’s term, can be explained as a mixture of traditional and modern marketing tools. Social media users with a large audience and subsequently a voice are roped in by brands for promotions, product launches, engagement and much more. According to studies done with marketers from a variety of industries, 94% said influencer marketing was an effective campaign strategy.
The Process of Influencer Marketing
Many industry pundits believe that currently, influencer marketing is the most fruitful possibility for big brands looking to accelerate brand awareness and sales online. An influencer teams up and collaborates with brands to promote products or services on the basis of followers and fans that then turn into an audience for the brand. For example, when a brand uses influencers to market their products, it is clearly stated that it’s a paid ad. Using the hashtags #ad, #sponsored or #paidpost are all great options that are being incorporated.
Example of Influencer Marketing Done Right
The newest and biggest example of outstanding influencer marketing is YouTuber David Dobrik. SeatGeek is an expert coupon site. It is an amazing app that helps you buy tickets in literally the easiest way possible. SeatGeek is a ticket search engine that combines ticket listings for live sports, concerts, and theatre events.
With an exquisite tie-up with David by helping him buy cars for a lot of his friends, SeatGeek has struck the jackpot in influencer marketing. So much so, that SeatGeek has become synonymous with David Dobrik.
“It’s not David Dobrik without SeatGeek and it’s not SeatGeek without David Dobrik”, a fan states at the launch of David’s Pop-Up store in NYC.
The Evolution of Influencer Marketing
This evolution of influencer marketing has the potential to produce extraordinary power for big brands. Influencer Marketing is a huge and significant part of digital marketing. Here are a few reasons why Influencer Marketing is not just a fad but is here to stay.
Consumers Are Becoming Immune To Traditional Digital Advertising
With an age demographic that mainly comprises of 18-24 and 25-35 year olds, the audience is changing and so are the expectations. The devices that we use to engage with content online also have a lot to do with why influencer marketing presents more value. For instance, the obvious change of news sources has shifted from newspapers and television to websites and independent news companies. Rogue Rocket is a shining example of this as it combined news with an OG YouTuber, Philip DeFranco.
The Audience Loyalty Of Influencers Is Unmatchable
Influencers have large social media followings, thus making it a favourite marketing channel of brands. The sheer exposure brands achieve through influencers and their numbers are simply hard to match through traditional marketing.
The Emerging Trends of Influencer Marketing
Influencer marketing has matured considerably in the last couple of years. It has gone more mainstream, to the point where many consider it a genuine expansion of content marketing, as the most powerful means of content delivery.
Micro-Influencers and Nano-Influencers Take Centre Stage
Influencer definitions have changed rapidly over the years. Now influencers are divided into four categories; Mega-influencers, Macro-influencers, Micro-influencers and Nano-influencers.
- Nano Influencers – 500 to 1000 followers
- Micro Influencers – 1000 to 10,000 followers
- Macro Influencers – 10,000 to 100,000 followers
- Mega Influencers – 100,000 followers
Mega-influencers are actually only of value to limited large brands. Micro-influencers and Nano-influencers are a perfect fit for the average business. There is an increased authenticity and engagement of nano-influencers along with a rise in the reach of micro-influencers. And brands should learn to balance this.
Long-Terms Relationships Flourish Between Influencers and Brands
Up until now, brands thought of influencer marketing as a short-term goal but as influencer marketing becomes more popular, this is changing. There are high chances that a brand will lose its best influencers because of short-term thinking. In 2019, when brands find fitting influencers, they now focus on developing longer-term relationships. Continuity is a key element that comes into play when brands stick to influencers.
Videos Gain Importance
Bandwidth and slower user experience used to hinder video content delivery in marketing. But now with advanced technology and High-Speed WiFi is available even on the most affordable smartphones, the picture has changed completely. YouTube had an upper hand when it came to videos. And since then, other social media giants like Facebook, Instagram, Twitter, and LinkedIn have understood the importance of videos and incorporated the same. Even Google search added video results.
Facebook’s User Base in a Rocky Boat
People have lost faith in Facebook, post a few negative instances. The newer generation tends to avoid Facebook as it is no longer fresh or fashionable. A lot of negative posts is also a reason for Facebook’s declining popularity.
Instagram and Influencer Marketing Means a Rise in Success
This visual platform is soaring in audience reach and popularity. With 1 billion active users since 2018, its popularity is ever-growing. The young generations prefer Instagram as it is the best visual platform and has an array of features similar to other social media sites. Instagram Live, Instagram Stories, and IGTV make it unbeatable.
It is apparent that the role of influencer marketing has become significant over the last few years. With an ever-changing audience and new waves of social media updates every single day, marketing is evolving and maturing into a powerful brand tool. It is evident that brands are cashing on the audience, reach and hold of these influencers and influencer marketing is a strong player in the game of marketing.