Influencer marketing, a core component of social media marketing, is a powerful tool to mold a particular audience’s beliefs and behaviors towards brands. This type of marketing involves a brand partnership or engagement with an influencer who is a famous individual that has a broad reach on social media. Brands tap these influencers to market products to a targeted audience set.
Implemented on digital mediums, influencer marketing has been around longer than we think. We can trace back its development to the late 18th century. Today, it is a $10 billion market, according to experts.
Despite the COVID-19 pandemic, it’s clear that influencer marketing is here to stay. The future of influencer marketing is very promising, as a survey showed that 63% of marketers intend to increase their influencer marketing budget this year and may even increase in the coming years.
Today, influencer marketing has evolved and it continues to gain popularity due to its tremendous potential. While influencer marketing seems to be exciting for brands, it can be challenging for content creators who leave a huge impact on their audience.
While influencers add tremendous value to people’s lives by sharing content in their respective areas of expertise, they are also facing a lot of troubles and downfalls along their journey. Influencer marketing is not always beautiful.
A lot of controversies surrounding big and small influencers had circulated on social media and blogs. Some issues have ruined the reputation of the persons involved. Some used it as a stepping stone so they can be better, so they can gain the limelight. As the saying goes, “negative publicity is still publicity”, which is true not only in the entertainment industry but in the social media marketing scene, as well. And for some who are smart enough, negative publicity became a PR opportunity.
But why is influencer marketing still preferred by brands and businesses nowadays? One reason is that in this kind of marketing strategy, brands can use different types of influencers.
Celebrities are the number one influencers. They are individual media contributors who have amassed a massive fan following across all age groups around the world. They don’t always personally connect with their audience because of a very high follower count but let’s face it, they are being followed every single moment and whatever they post on social media surely reaches a huge audience.
Industry achievers are also influencers because their thoughts are extremely valued and respected. They are being followed for their engaging and meaningful content.
Bloggers are one of the most trusted and most popular influencers because they create contents that deeply relate to and connect with their fans. This also includes microbloggers who create short posts on microblogging platforms. Businesses or brands center their marketing strategy around them because they have the maximum connection with their followers, they have personal relationships with their fans and they do create original content for the brand.
Micro-influencers, on the other hand, are those who started their social media journey from scratch. They influence their followers because they have a personal relationship with all their followers and their followers completely resonate with them. They are also preferred by companies because they can target the fans and initiate personalized marketing campaigns.
Being famous nowadays is just a few clicks away because of social media. Movies, magazines, television, radio, and the like no longer dictate the celebrity lists nowadays, as anybody can become famous and amass a following on their own.
Influencers are indeed the new generation of celebrities because of their power to drive more people towards products or services. Consumers trust the recommendations made by their favorite influencers and in return, brands use this to influence purchase decisions and drive more conversions.