Decoding Influencer Marketing and Its Frenzied Success
Influencer marketing is all the rave in the new age digital marketplace and companies continue to jump on the bandwagon of success. Although it has been around for decades, brands and professionals alike are only now beginning to realize its massive potential. Influencer marketing is when a brand or company forms a relationship with an influential person of charisma and focuses its efforts on them instead of the target market as a whole. In theory, these brands are banking on the reputation and influence of the target to guide the rest of the market. Michael Jordan selling sneakers may have been an earlier form of influencer marketing, but it was also more of a celebrity endorsement. Influencer marketing has long evolved into something much more mainstream that has taken social media by storm and reaching people on a personal level.
How Influencer Marketing Works
Influencers are typically trusted people within their social communities who have extensive knowledge of the products or services they are promoting. They must also have a consistently loyal following on various social media platforms. Unlike celebrity endorsements, influencers create and promote their content. They do integrate the company’s specific advertising stipulations into the campaign, but they portray the brand as they see it. This is considered to be a more genuine recommendation from a person of sizable clout. The size of an influencer’s social following determines their monetary value to the brand. Influencer marketing gives brands the opportunity to reach very specific niche audiences.
Why It Works
It is crucial for a brand to build trust with its audience, but consumers are skeptical of ads on social media. The dawn of the internet has shrunken the size of television audiences to just a fraction of what they used to be. This has left companies scrambling to find a way to both advertise and build trust with skeptical consumers. Using influencers allows companies to advertise through a trusted figure in the social community. The thought is that the social community already regularly engages with and trusts the influencer. Influencer marketing allows brands to advertise to specific niche markets through borrowed trust.
Benefits Of Influencer Marketing
It is also a much more affordable marketing method with a high return on investment. Consumers are smart, and they want information before they commit to a purchase, be it service or product. They use the internet to find that information. Influencer marketing reaches consumers on a personal level they are already comfortable with, so they are not as guarded. If influencers love the product or service, then the social community assumes it will too. Influencers are also easy for the social community to connect with and they can answer questions. A personal recommendation has always been the best form of advertising, but influencer marketing takes that to the next level.
Tools have even been created so that brands can ensure an influencer’s social community is organic and not purchased or fake. Influencer marketing has generated a brand-new career path for some while giving brands a more genuine and personal way to market to consumers. It works because it is a more intimate and transparent way to market. Brands and influencers both put their reputations on the line in this form of marketing which appeals to consumers because they like truth in advertising.
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Joanne is an accomplished marketing and sales leader with over seventeen years of experience defining corporate marketing and sales strategies, managing sales and marketing teams, and closing new business with Fortune 1000 customers across a wide range of vertical markets.