It’s 2018 and a lot of people are trying to become Influencers of some kind. In short, that basically means that they are trying to amass a certain following centered around their lifestyle. And… businesses have realized the potential to make their own gain within this insanely growing field – this is what they call Influence Marketing.
There’s also been a surge of Influence Marketing platforms that are making a huge difference in this field. These platforms make the process of finding and hiring the best influencers to endorse your brand, product or business extremely easy. Feel free to take a look at our list of top influencer platforms if you want to find out more about this.
Numbers Don’t Lie
Over the past few years, Influence Marketing has seen a drastic rise in popularity. Each day, more and more businesses are hopping on to this train and it sure as hell isn’t going to stop. For example, Instagram influencer’s market value has seen a 600 million increase in the past year, jumping from 1.07 to 1.71 billion dollars and is estimated to jump up to 2.38 billions in 2019. That is just an insane growth and the world is quickly catching up.
The reason this marketing field blew up over the past few years is mainly due to the increasing numbers of social media users all across the world. Every single millennial is using it and even the adults are catching up. This has led to huge increase in popularity of individuals, so called “influencers”, who are being almost religiously followed by thousands of online fans. Everything they say or do – their fans watch and approve.
Having these influencers to support your brand, product or service is slowly but surely becoming the future of internet marketing. It’s time to hop on this ride.
Precisely Targeted Audience
The reason Influence Marketing beats all other forms is because it’s precisely targeted towards specific audience. This results in more interest, engagement and more sales for any business who correctly identifies their niche’s most powerful influencers. Let’s compare this marketing method with a more traditional approach so you can clearly understand the benefits of this method:
As an example, let’s take a small business that sells hair products to blonde-haired women. Traditionally, this business would usually have to go to the big TV stations and ask them to advertise their product within a limited time frame that would cost them a lot of money. They had to pay for each viewer that watched their advertisement, regardless of whether they’re blonde women or not. As a result, only a small number of these viewers would actually be reached by such advertisement and you can already figure out why that is a bad thing. But…
In this day and age, this business doesn’t have to bother with such ancient and ineffective strategies. All they have to do to sell their product is to go where their audience is. Now, you may be asking yourself “Where would that be?!”. The answer is simple – the audience is where their favorite influencer is. And in this case, it’s probably going to be Instagram. Now… they don’t have to be geniuses to find a few blonde haired women with huge followings, it’s as simple as supply and demand. They contact these Influencers, find the ones who can give them the highest return on investment and bang: suddenly they have a lot of targeted traffic for their website at a relatively small price. And the best part is that there is no end to this way of marketing, you could, theoretically, have every single woman endorsing your product on their page.
Perhaps the given example was not the best one but nonetheless, the point remains the same – this method works and it’s here to stay.
It Only Gets Better With Time
For a lot of businesses Influence Marketing is what athlete endorsing was to the likes of Nike, Adidas or Under Armour. They get to pick the best individuals to put their face in front of their products, and we all know how that turned out for Nike & the crew.
The hidden benefit that drives this incredibly growing field is the fact that both parties are working for the common interest. These Influencers are doing their best to increase their following and as a result, their endorsement gets better & better as time goes by. Slowly, they’re becoming brand ambassadors for various businesses and you can bet that their loyal fans will be joining as well.
There is no doubt that Influence Marketing is the future of internet & social media marketing. It’s very targeted, cost-efficient and it’s only getting better. Social media companies are realizing the potential for their own gain in all of this and they’re actively trying to improve on this field.
Only one question remains:
How far can it go?