Businesses are using influencers, when will you?
Have you come across someone on social media endorsing a product or service? I’m sure you must have. Social media networks nowadays are filled with ads. Almost all famous personalities on social media engage in endorsing a brand. This is what influencer marketing is.
Influencer marketing is a type of social media marketing that uses endorsements and product mentions from influencers. Influencers are individuals who build a strong follower base using the internet or social media. That is why they are also called internet celebrities.
Let us understand some influencers with specific examples. Mrunal Panchal and Nagma Mirajkar are beauty and fashion influencers on Instagram with 3.5 million and 6.1 million followers respectively. Jeet Selal is a fitness influencer with 3.5 million subscribers on YouTube. So beauty and fashion brands approach Mrunal and Nagma for endorsements while fitness brands approach Jeet for endorsements. This is how businesses target influencers for marketing. Every category has famous influencers in their industry. That’s how businesses use them to reach potential customers on social media.
It’s a win-win situation for both business and influencers as businesses get to reach potential customers while influencers get a chance to earn money. It is a good opportunity for thousands of influencers around the world.
Why is influencer marketing so popular currently?
Influencer marketing works because influencers build a high amount of trust built up with followers. When people see influencers recommend a product or service, they are confident in trying them. Ask yourself, have you at least looked for a product recommended by an influencer? I’m pretty sure you did!
That’s what sets influencer marketing apart from other marketing efforts. Instead of marketing directly to the customers, businesses can use influencers to vouch for their products or services. This is a simple and smooth type of marketing where customers don’t feel that something is pushed to them or advertised. It feels more like a recommendation from the influencers.
The popularity of influencer marketing is growing and it is not surprising that many businesses use around 50% of their social media budget on influencer marketing. This number will continue to grow in the future!