Influencer Marketing is now a massive part of the marketing industry with brands predicted to spend £80bn by 2020.
Why’s it so big?
Influencer marketing has become a huge trend within marketing in 2018. Followers and viewers of the influencers get attached to the individuals they’re watching, striving to use similar products and follow their lifestyle. They get to know the person through different social platforms. This builds trust between the viewer and influencer.
More and more brands are approaching influencers, offering to send them free products in exchange for a mention or photo on their social media. This is often due to the influencer’s number of followers and the ability to reach a significant audience. The mention or review of the product is trusted by the viewers, often leading to high volumes of sales. This is revolutionary for the marketing industry.
Surprisingly, it has been revealed that 30% of consumers are more likely to purchase a product if it’s been recommended by a blogger that isn’t a celebrity. This is partly due to the fact that bloggers seem more trustworthy and genuine. Celebrities are often trusted less due to their status and lifestyle. Consumers are much more inclined to buy from non-celebrity bloggers as they feel like they can relate more to them and their lifestyle.
But is it any good?
Influencers charge thousands per mention or post. Did you know, Zoella, a well-renowned beauty blogger charges over £10,000 for a post and over £40,000 per video for a brand mention?! With around 10 million followers on Instagram and over 11 million subscribers on YouTube, her posts bring a very high return on investment (ROI) for hundreds of brands.
Don’t worry, there are many other successful influencers with a smaller following. They charge much less and still bring great ROI!