Influencer Marketing is Taking Over
Have you heard? Influencer marketing is taking over the world of social media marketing. It is a huge part of how businesses now market a product to their consumers. Influencers were born from staying up to date with the latest trends and promoting these across digital platforms such as Instagram.
With the pandemic hitting businesses hard, marketing has also had to adapt. Experienced influencers have achieved a 46% increase in followers whilst traditional advertising has suffered from a 20% decline in sales. That is a huge win for influencers and proves why they are so important for a company to invest in during this difficult period.
Types of Influencer Marketing:
Micro-Influencers:
Micro-influencers who only have a few thousand followers can still do a lot for a business. ‘According to a 2019 report from Later and Fohr, micro-influencers, particularly those with fewer than 25,000 followers, have the highest engagement rates at around 7%’. Using a micro-influencer, a brand is able to stretch its budget further whilst still engaging with potential customers.
Longer Partnerships:
Brands are joining with influencers for longer partnerships. Noticeably, brands have recognised there is a high probability of sales if the brand is in partnership with the influencer for a longer period of time. Similar to running a Facebook ad campaign, you wouldn’t just run the one ad; you put out several over a time frame. This encourages engagement as it gives the audience time to recognise your brand, build brand awareness and trust your brand.
Video content:
Platforms like YouTube allow users to freely upload video content that is natural and unscripted. People love to be able to relate to others and enjoy the endless content from creators. ‘On Facebook alone, the number of users watching live video increased 50% in early 2020’.
Authenticity:
As more people are aware of what influencers do, consumers are demanding more authentic content from them. Influencers now have to be careful in which brands they work with. Being careful if it is the right fit for their brand. They have a niche target audience that brands cannot target in a typical digital ad. An influencer can resonate with their audience and develop a connection that is more valuable. Consumers trust what influencers promote.
Specialised Influencers:
Larger influencers have a very large audience and many niches. Larger brands can not only afford the rates of influencers with higher follow counts but can offer products that serve a purpose to the various followers they have. Smaller brands are restricted by budget and potentially product. A smaller brand partnering with a micro-influencer with a refined following will generate more engagement and sales.
