Influencer Marketing has been a buzzword for a while now, but what exactly is it all about? This marketing strategy uses content creators to increase brand awareness, increase traffic, and market a company’s products or services. By combining the power of social media with the time-tested longevity of word-of-mouth marketing, influencer marketing is a hybrid of old and new marketing tools.
The campaigns are collaborations between brands/companies and influencers. Endorsements and product mentions from influencers are commonly utilized.
An influencer is someone who has:
They’re influential because of their followings on social media and the web. There are influential people within every industry – you just have to find them. Some may have followings in the hundreds of thousands or millions. Some may have 10,000 followers or less. But the key is that they have developed a reputation for being experts in their field, and have a dedicated fanbase.
Social media is growing – an estimated 4.9 billion people use social media globally as of 2023, and that number is expected to climb to 5.86 billion by 2027. Influencer marketing had a projected growth of 29% in 2023. It’s about demonstrating authority, credibility and thought leadership within your industry – it’s a slow-and-steady approach as opposed to a quick-results tactic. Influencers have spent time building their own brand and audience, so they’re naturally protective of their reputation.
Social media and influencer marketing is a direct line to Gen Z, a generation of diverse, socially conscious, and online-savvy consumers. A recent survey showed that 38% of Gen Z-ers spend more than 4 hours a day on social media apps.
While influencer marketing is a relatively new addition to the social media landscape, it may make sense for your brand and audience.
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