Influencer marketing is one of the fastest-growing types of online marketing. It’s been around for over 15 years, despite its recent popularity. It used to be reserved for celebrities who had established a reputation for themselves. More people have entered the industry in recent years, and the market has become saturated.
However, very few small and big businesses have embraced influencer marketing. Maybe they don’t understand what it is or they don’t believe in its dynamics. So, who is an influencer, and what is influencer marketing?
In simple terms, an influencer is someone who can influence others. In influencer marketing, the said influencer collaborates with brands to promote a particular product or service. It can be through PR packages or paid partnerships.
Influencer marketing is a marketing strategy used by brands to promote or raise awareness of their products or services through influencers. It takes place on social media platforms and blogs. These brands use influencers with a large following and have established themselves in a specific niche, such as fashion, food, or travel.
Influencer marketing works because influencers have earned the trust of their followers; hence they believe in the products they promote. In addition, the influencer’s endorsements provide social proof to a brand’s prospective customers.
This method could be the solution to most of your marketing needs. According to statistics, it grew by approximately $13.8 billion in 2021. In addition, for every $1 spent, brands receive a $5.78 return on investment.
A survey was also conducted to prove the effectiveness, and 90% of the respondents said they believed influencer marketing could prompt their buying decision.
Influencer marketing is no different than other marketing tactics in that it requires research and planning. You can’t pinpoint any influencer to help you promote your products and services. There are several tactics you have to f