We are currently going through a revolutionary shift. First, there was the industrial revolution, then there was the mass media revolution and now we are in the digital revolution. If you think about it, advertising stayed relatively the same for about 50 years until online marketing came along and disrupted it. When was the last time you bought something because of a newspaper ad or a billboard?
Now advertisers are spending their money towards platforms like YouTube, Instagram and Facebook. On top of these platforms we have this thing called influencers. What is an influencer? An influencer is someone who chooses to consistently post stuff online and somehow has amassed a huge following and become an “influencer”. And so what is influencer marketing? Influencer marketing is a technique by which you can get your brand’s message out to your target audience via an influencer.
Currently influencer marketing is almost a 10 billion dollar industry and is projected to be a 15 billion dollar industry by 2022. The brands are realizing that this is a highly effective way of online marketing. They have totally transformed their businesses thanks to influencers. According to a study, 70% of purchase decisions by millenials are made from an influencer’s recommendation and 60% of in-store purchase decisions are influenced by something that someone has seen on social media or a blog post.
Not only is influencer marketing applicable to brands, it is also applicable to people. Millenials are often looked down upon for their life choices but we can surely learn from them. They know more than anyone that building a personal brand today is more important than ever when it comes to things like accessibility, opportunities, employment etc.
What is the difference between a celebrity and an influencer and how to find influencers? The answer to both those questions is really just one word – relatability. An influencer is way more relatable. People love someone who is uncensored and unscripted. If you find someone who has a huge following, not because of some role they were in or some song they sang, but for their personality and them being themselves, then you have found an influencer. Data shows that consumers are way more likely to be influenced by an influencer than a celebrity when it comes to their purchase decisions.
How to work with influencers? The misconception behind influencer marketing and working with influencers is that a lot of people think that an influencer is just sent a product over a mail and that is simply not the case. So, how is influencer marketing agencies leveraging influencers to promote their products and events? Brands are utilizing influencers not just for their audience but also for their creativity. When you want to pair an influencer with a brand, you are looking at a lot of different things like their core values, the brand safety, platforms that the influencer is on and so on. It is important to work on different ideas that both the brand and the influencer is coming up with and find a common ground.
Bottom line
Influencer marketing sure has changed the way one might approach marketing and advertising and will continue to do so. It just keeps on growing. Influencer marketing helps you gain brand exposure on a different level. It also helps you to shape people’s perception, spark curiosity amongst them and allows you to build trust with your target audience. Also, as you drive value to your customers, you are bringing in more revenue and at the end of the day, it’s all about the money, isn’t it?
