Reasons why influencer marketing is effective. Have you ever bought something either online or offline because a famous person you know recommended such a product or service?
I have been guilty of this, and I know many people fall into the same category. Let’s take a good example of how this works. As a fitness trainer, you may be following some influential coaches online like Brad Schoenfeld, Matt Roberts, Louise Parker, and Shaun Stafford. As they continue to inspire you, they can also recommend products, brands, or services that you are likely to purchase because they recommended such products or services. That is what we refer to as “influence marketing.”
What is Influence Marketing?
Influencer marketing engages with top, specialized content creators to raise brand awareness, boost traffic, and leads to brands’ target audience. This partnership between brands and creators enables them to access a wider range of their ideal clients.
Social media, blogs, articles, digital and print commercials, and television are a few examples of these channels used by influencers. Most traditional advertising is no longer as efficient at generating leads and customers. Influencer marketing is becoming more and more popular among businesses nowadays.
Influencer marketing makes use of strategies like social proof and word-of-mouth advertising, which are now essential components of every effective marketing strategy.
What are influencer marketing statistics in 2023
According to Statista Influencer marketing is among the most popular and effective forms of online advertising. It is not surprising that marketers are using the social media platforms’ most famous faces for marketing given the millions of internet users who use them every day for amusement, inspiration, and product suggestions. As of 2022, the value of the global influencer marketing industry was 16.4 billion US dollars, more than doubling from 2019. Collaborations between brands and creators are now more lucrative than ever as the industry of influencer endorsement continues to develop. This growth is also reflected in the size and value of influencer marketing platforms, which are growing year after year.
Why influencer marketing is more effective than traditional marketing.
It’s important to understand how influencer marketing and digital advertising are related to understanding what this means. While using traditional digital advertising, a brand only pays when its ads are seen and eventually clicked. The maximum number of ad impressions that can be delivered through influencer marketing depends on the influencer’s follower count. This is similar yet significantly different. The decision over which is more effective will ultimately come down to a cost-per-impression “shootout” between the two at this point. The similarities stop here, though, and the differences begin to emerge.
- Unlike sponsored ads, which are created by brands and displayed in your feed as an unwanted interruption. Influencer-created content appears more naturally as a “word of mouth” recommendation, making it considerably more potent. According to a consumer poll, 88% of respondents place as much trust in online reviews from strangers as they do in recommendations from friends.
- Influencers are important because they create content with their own distinctive viewpoint and artistic flair. Hereby making it appear much less like an advertisement and more like original stuff you would genuinely want to see. After all, the ability of the influencer to produce quality material is what first led to their status as an influencer.
- Influencer marketing is ultimately so much more effective than digital advertising for this simple fact. Brands receive exceptional content at scale that is shared by word of mouth. Instead of purchasing 10 million digital ad impressions for a single piece of brand-produced content. Businesses can pay influencers to produce original content that is “tailor crafted” for their audiences and reaches a comparable audience. Its content’s uniqueness and method of delivery are what gives it tremendous power.
Conclusion
Influencer marketing will continue to take up more of a brand’s marketing budget as traditional digital advertising becomes less efficient. In addition, consumers grow immune to banners and sponsored adverts. The majority of firms’ goals will be to continue progressively integrating influencer-produced content into their digital advertising.
