Imagine if we told you ten years ago that we were living in a world where your neighbor could be a voice of reason to thousands of people on the internet, or that your teacher could also have a sideline as a blogger? It wouldn’t have sounded plausible, right? Well, times have certainly changed now!
In this new reality of digital and social media marketing We saw influencer marketing explode as an opportunity for brands and companies to introduce their products and services into new markets.
An influencer is anyone who has an influence on a specific target group and is able to influence their buying behavior through comments and product placements. Business Insider Intelligence estimates the influencer marketing industry is expected to be worth up to $ 15 billion by 2022, compared to $ 8 billion in 2019. Growing market size suggests that influencers are buying – And in the future more likely to influence and influence consumer purchasing decisions, as social media are becoming omnipresent and functional beyond communication.
According to eMarketer 84% of marketers tend to start at least one campaign with an influencer;; This is especially true during times of a pandemic, when people spend most of their time on their phones or laptops. Additionally, marketers who have already launched influencer campaigns are impressed with the results 81% consider this form of partnership to be very effective.
Companies use celebrities and cult figures to advertise their products and promote relativity. However, as more brands are realizing how much people trust other people’s opinions about everything else, a new pool of influencers has opened up.
Influencer marketing is a mixture of old and new marketing and advertising materials and everything that a modern campaign needs. It’s less about selling your goods directly than about becoming one with what’s on offer. some kind of verb like “Let’s xerox it” or “Let’s Swiggy it”.
Some statistics and pointers on the growth and effectiveness of influencer marketing:
- According to a 2019 report, about 65% of marketers and strategists shared that influencer marketing helped increase brand awareness, and 50% also agreed that it was effective in managing brand reputation.
- The new results also showed that 76% of brands are looking to increase their budget this year in 2021, compared to 62% last year.
- In the B2B sector, 34% of companies promoted advertising via the media or third-party influencers
- Companies around the world partner with 660 million developers each year
- 75% of those surveyed rated influencer marketing as a central strategic priority
- 71% of consumers make purchases based on a social media reference.
- 57% of beauty and fashion companies use influencer marketing as part of their marketing strategies.
- Traditional marketing techniques no longer suit the millennials, who are now developing into independent financial decision-makers. For this reason, influencer marketing at the BFSI is steadily increasing. HDFC’s recent #MooohBandRakho campaign is a great example.
Every business works with data, and getting into data analytics and data-driven technology has taken over the influencer marketing industry, which is digging deeper into the gaps in the industry. According to reports, 54.3% of brands in influencer marketing use agency or self-service software to manage influencer relationships
As the world continues to evolve and audiences get smarter every day, it is obvious that now is the right time to unleash the true potential of influencer marketing. Ultimately, influencer marketing may not be for every brand, but for those for whom it is spot on, it can work with a balanced and successful digital marketing strategy to shift voices and shine the spotlight it deserves!
The question here is, what would you, the reader, prefer if the influencers and brands used their influence?
Read more news about (Internet Advertising India, Internet Advertising, Advertising India, Digital Advertising India, Media Advertising India)
For further updates, please stay connected with us socially
WhatsApp, Instagram, LinkedIn, Twitter, Facebook and Youtube