An Insight of Influencer Marketing
Influencer Marketing – With the clogging newspapers advertisements, radio and TV channels flooding with ad labels, it became really frustrating for consumers to trust the brands. People were bored with the old-age traditional marketing strategies and the market really demanded something new which can bring back consumers’ trust in the brands.
With the exponential rise in time, people spend on social media it would be not wrong to say, that our life is influenced by people we follow, on social media.
Closely following someone we admire, has never been a cakewalk as it seems to be these days. It might be anybody a celebrity, an artist, politician, and bloggers. Anybody with some good amount of followers can be considered for influencer marketing.
Big companies, brands use these influencers to promote their product, brand, services. This strategy is beating any other kind of marketing such as advertisements on YouTube before a video, email marketing, traditional TV advertisement. Also, posting relevant content online and what is appreciated by the people is the most important thing. Irrelevancy leads to losing followers.
It is also a very people-centric marketing strategy. A beauty blogger marketing beauty products on YouTube is expected to be followed by people who are potential buyers of beauty products.
How to decide who to choose as an influencer?
An influencer for a particular product can be someone who is famous among his followers for something that aligns with the product. For example, a food blogger can be approached for the marketing of a café or restaurant. Depending on the reach of the product that the brand expects, the type of influencer can be chosen.
You should make sure that the content of your advertisement campaign should look good coming from the particular influencer. Ensure that the influencer you choose has a good approach and network with your target audience. The spectrum of influencers varies from mega influencers to micro influencers.
Difference Between Mega and Micro Influencers?
1. Mega influencers being high-end celebrities who have 500k+ followers, they get paid the highest for endorsing a product on their social media. Being an influencer is their secondary source of income.
2. Moving down to macro influencers who generally have 100k-500k followers. They are bloggers, YouTubers. Their primary source of income is by being an influencer for a brand and helping them grow their business.
3. And on the other end of the spectrum are micro influencers, who have around 1000-100k followers. These people are everyday consumers and have the highest relevance as they are spreading the word based on their network and relationships with others.
The goal of influencer marketing is to get people talking about the brand or the product, to make them familiar with what big brands have to offer.
One great example is FilterCopy. FilterCopy is a famous youtube channel that makes short videos. Loco markets its products very subtly and smartly in those videos, so as to make the people familiar with the product. FilterCopy serves as an influencer for Loco.
How Influencer Marketing Works?
According to a survey by India Influence Report 2018, 90% of the brands plan on launching influencer campaign in India. 89% of the marketers are indulging in marketing their products on the platform, while 69% are planning on expanding the budget for influencer marketing.
It also reveals that the market is gradually maturing towards influential marketing. As consumers are becoming more and more aware today and can easily differentiate between clichéd advertisement and a promising product.
Top marketers have indicated that people are more likely to buy the product if they are marketed by the people they trust and admire. The influencing can be done by posting about it on social media, putting up leveraging pictures, making small videos about it, telling a story and by doing whatever influencer can connect most with his/her followers.
What do influencers get out of it?
Influencers are in this game based on various purposes it serves.
1) Money: If the influencer has massive following, then they are paid big time for a small piece of work.
2) Free Product: Brands gift their products for free to the influencers so that they can try them and make public reviews on the social media which eventually helps them market their product.
3) Liking for the product: Some influencers are in it, because they genuinely like the product.
4) Recognition: This works for micro influencers. They do not expect monetary benefits but rather market the products to get some limelight on their social media channel.
How One can Start Doing Influencer Marketing?
1) Using free software that is available. They do everything from hiring an influencer for the campaign, tracking the influencers, and reaching out to them. Some of the common software is TapInfluence and FameBit.
2) Clearly set up the expectations and numbers. Keeping a clear mind on numbers and aiming according to it is something which should be done for successful influencer marketing.
3) There are also several digital marketing companies that could be hired to take care of picking of the influencer, reaching out to them, negotiating and putting it into action.
Top influencer Marketing statistics
Influencers are those people who are considered as thought leaders imparting their ideas firmly in a particular niche. Picking up a best influencer for your campaign is a bit of work because you need to know the behavior of your target audience.
You should choose someone to whom your audience looks up-to. Everything about influencer marketing has to be full of magic to attract more and more audience.
1) 86% of women turn to social network before making a purchase.
2) 70% of YouTube subscribers trust their influencers more than they trust traditional other celebrities.
3) 57% of beauty, fashion and cosmetics companies use influencer marketing as a non-conventional method to target their audience. Because now people have started to trust something which they find practical and an influencer’s face creates a stronger impact on the consumer.
4) 32% of the influencers who currently work cite Facebook as the best social media platform and Instagram holds 24%.
With various government warnings and cautionary tones hinting, almost all the brands now publicly putting their paid partnership and sponsorship tags. And a good influencer knows how to share these tags without breaking the audience’s trust.