With the sharp spike in the use of social media platforms, influencer marketing is the most lucrative and sought after option when it comes to digital marketing. Influencer marketing is the recently excavated goldmine in the marketing arena to promote brand recognition among users. The emergence of social media culture has procreated this new marketing strategy to encourage brand awareness and reach among its target consumer base.
Wielding the power of a social media profile, influencer marketing helps to accelerate brand outreach.
Who Are Influencers?
Be it Instagram, Facebook, Youtube, or other interactive digital platforms; there is an upsurge in the numbers of active users. Access to the internet has made us social media slaves leading to incessant scrolling several times a day. Brands have utilized this increasing media consumption by users to their own advantage by employing their marketing strategies on the right platforms. Droves of people on social media have reached a celebrity status over time by garnering a closely-knit network of loyal followers.
Several people, who started out as casual bloggers, vloggers, and Instagrammers later catapulted to fame. Various social media accounts have embarked on their journey as a star through their consistency and regularity to post content in their niche. With a robust and substantial follower base of several thousand to millions; social media stars have the power to influence purchase decisions made by their followers. hence are commonly known as Influencers.
Instagrammers like Aashna Shroff, Kusha Kapila, Kritika Khurana, have garnered a strong follower base over time and have endorsed several fashion and beauty brands by posting promotional content on their social media feed.
Prajakta Koli who runs her social media channels with the name of ‘Mostlysane’ is a fine example of an influencer. She has partnered with several brands like H&M online stores, Yatra.com, and Samsung among others. Aside from successfully running her YouTube channel; Prajakta has also been a part of a television commercial about fake news for Whatsapp, acted in a short movie “Khyali Pulao” and will now be seen in a major role in a Netflix movie.
What is Influencer Marketing?
Gone are the times when brands heavily relied on star power for promotions and endorsements. Anyone not primarily with a gigantic but necessarily with a substantial, loyal, and engaged follower base, stands a chance to become a social media influencer.
As per reports by Nielsen, 92% of the audience rely on word of mouth reviews by individuals over brands. This itself speaks volumes as to why influencer marketing is the need of the hour.
Influencer marketing is a marketing tool that taps into the power of social media influence and combines it in content-driven platforms to launch effective marketing campaigns. It offers a perfect space to drive better audience engagement by targeting the right consumer base. Influencer marketing campaigns leverage the star power of influencers to endorse brands, push sales, build brand outreach, and accumulate a loyal consumer base.
Influencer marketing comes with its own upsides such as being cost-effective, time-saving, offering a better and widespread reach, and an enormous return value. With so much in its kitty, influencer marketing comes across as a critical marketing tool that trumps the mainstream advertising campaigns at so many levels.
Why Employ Influencer Marketing For Your Brand?
With a huge follower base that connects them to millions through their YouTube channels, Instagram handles; social media influencers have become integrated into almost every brand’s promotional strategies to reap better sales and conversions. A study by Tomoson, reveals that influencer marketing helps reap a better return of investment (ROI) that is nearly $6.50 for every dollar spent in a campaign.
Brands irrespective of categories are exploring and utilizing the influencer marketing realm by partnering with common people who have built up an enormous fan following. Combining their creative minds with brand stories, bloggers create wonderful content to reach target customers. Collaborations with influencers help push product sales, expand product reach, and boost the authenticity of the product by giving it a voice.
Brands implement this strategy to transform the popularity of social media starlets into higher sales and better conversions for their products and services. In turn, influencers rake in serious money through the sponsored content in the form of paid/partnership/sponsored posts they generate for their feed.
According to a survey, nearly 40% of people seek a review by an influencer on YouTube, Instagram, or Twitter before making a purchase. Brands have tapped into their celeb potential to influence the sales of their products and services. Several brands have switched to influencer marketing by roping in influencers to post promotional content targeting potential consumers.
Brands like Dettol, Lifebuoy recently roped in influencers for promotional campaigns to encourage hygiene awareness among the general public. The campaigns launched in the wake of COVID-19 were built with a dual purpose to educate consumers while pushing them to reach out to their products for their safety.
Amazon recently launched a Donate campaign by collaborating with 25 influencers.
The fundamental of influencer marketing is hiring influencers whose content aligns with the brand’s idea. A single post published by the influencer extends brand visibility to a large and relevant consumer base.
Although the digital marketing scene is going stronger by the day, the prime concern remains the struggle to reap a return of investment followed by influencer discovery. Another roadblock that hinders digital marketing efforts is the flocking of fake followers which defeats the purpose of this whole drill. Consequently, at the end of the day, it all comes down to planning a strategy before signing up for an influencer marketing campaign.
The cornerstone of influencer marketing is the trust reposed by the followers in the influencer’s content. Hence, the end goal is finding the right person with relatable content to target potential consumers, which inadvertently will help bolster user trust, credibility, and push the growth of your product a notch higher.
With the coronavirus induced pandemic looming large in the country, influencer marketing is definitely the best bet for brands to promote sales in a socially distant world.