Influencer marketing is now the fastest-growing online marketing channel, quickly catching up with other strategies like affiliate marketing, paid search and display. Therefore it’s unsurprising to hear that businesses are now setting entire marketing budgets dedicated to the strategy.
Before we take a deep dive into why your business should be making the most of influencer marketing, let’s take a look at what the term ‘influencer’ actually means…
Influencers in social media are those who have built a reputation for their knowledge and expertise on a specific topic. They create frequent content about their niche on their preferred social media channels and generate large followings of an engaged audience.
You can separate influencers into various categories, however, the most common way to group them is through follower numbers.
When grouping influencers by their number of followers, the general rule of thumb is:
- Micro Influencer = <15,000
- Regular Influencer = 15,000 – 50,000
- Rising Influencer = 50,000 – 100,000
- Mid Influencer = 100,000 – 500,000
- Macro Influencer = 500,000 – 1,000,000
- Mega Influencer = >1,000,000
Now we’ve covered the basics, let’s delve into why influencer marketing is continuing to rise at such a rapid rate…
Why influencer marketing? As social media continues to grow in popularity, companies have had to adapt their marketing techniques to reach customers in this new landscape and one of the most popular ways to do so is influencer marketing. In this strategy, companies use social media influencers to promote their products rather than using traditional ads.
The Power To Influence
One of the crucial factors that contribute to influencer marketing is the perceived nature of influencers. Their following often treat them as real-life consumers who share valuable information about the latest products within the industry.
In today’s market, one of the best ways to get your business seen on social media is to start a conversation about your brand. Influencers, thanks to their huge reach and great engagement rates, can make this possible.
When an influencer features your brand in their content, their audience is likely to notice. They are also likely to share this content with their networks, increasing your brand awareness even further.
Growing Appeal of Micro and Nano Influencers
More and more brands have been seeing the value of partnering with micro and nano-influencers, whose small-in-name-only clout can far eclipse their more popular peers. Micro and nano influencers are often more authentic and credible than their more popular counterparts as they have a deeper connection with their following.
Authenticity and transparency became important in 2020 as brands struggled to find meaningful ways of staying relevant without coming off as insensitive or appearing to capitalise on a crisis. As the ‘new normal’ evolves throughout the coming year, this trend is likely to continue well into 2022, with consumers being drawn to campaigns that feel genuine and personal.
The rise in influencer marketing represents the new marketing landscape. As the number of social media users continues to rise, the prevalence of influencer marketing will undoubtedly follow. So, stay ahead of the curve and start incorporating influencer marketing into your marketing strategy.