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Influencer Marketing: The New Wave of Marketing



Some Background influencer /ˈɪnflʊənsə/ noun

  1. a person or thing that influences another. "he was a champion of the arts and a huge influencer of taste"

MARKETING a person with the ability to influence potential buyers of a product or service by promoting or recommending the items on social media. "influencers can add serious credibility to your brand" Influencer marketing is now a mainstream form of online and digital marketing. Acting as a hybrid of old and new marketing tools, it takes the idea of celebrity endorsement and places it into an online content focused marketing campaign. The main style of influencer marketing is collaborations between brands and influencers. For example, Molly Mae and Pretty Little Thing. One of the flaws that traditional media has is that it fails to recognise the difference between celebrities and influencers. Most influencers have built a loyal and enthusiastic audience that follow their brand. An influencers audience cares about the opinions of the influencer on your brand rather than your brand itself.

Who Shares Wins

Influencers can be anyone, anywhere, at any time. What makes them influential is their large followings online on platforms such as instagram, youtube etc. An influencer can be a popular fashion blogger on Instagram, or a well-read stock blogger who tweets, or even a marketing executive on LinkedIn. There are influential people in any type of industry that can be used to your advantage as a marketing tool. Some will have hundreds of thousands (if not millions) of followers or some may only have 10,000 followers. However, they will have built a reputation for being the experts in their field and being trusted by their audience. Whatever they share on their platforms will reach a wide audience and influence their followers, from buying a pair of shoes to investing in a certain stock. Not convinced?


The Numbers

Here are some statistics on influencer marketing just to show you how vital of a marketing tool it can be.

  • Influencer marketing has grown to $13.8 billion in 2021.

  • Businesses are making $5.78 ROI for every $1 spent on influencer marketing.

  • There has been a 465% increase in searches for the phrase "influencer marketing" on Google since 2016.

  • 90% of survey respondents believe influencer marketing to be an effective form of marketing.

  • 67% of brands use Instagram for influencer marketing.

  • 1360 Influencer marketing focused platforms and agencies entered the market in the last 5 years.

Like with anything you have to carefully consider your approach when it comes to influencer marketing. Being organised and putting together a strategy, plan, and budget, as well as conducting research is important if you want to make the most out of using influencer marketing. You also need to find the right influencer/s for your brand, whether that be finding them organically, on a subscribed platform, or through an agency. Below are some examples of good influencer marketing.


Gymshark


Gymshark is arguably one of the most influential fitness brands. Their use of influencer marketing has often been considered a key factor in the company's growth and success. To get the business off the ground, they recruited a small number of social media stars and created the foundations for what is now the Gymshark ‘athlete’ community.


Dunkin Donuts

Tik Tok star Charli D’amelio was well known for her love of Dunkin Donuts coffee, and the donut and coffee franchise used this to their advantage. She was so popular and was in turn giving Dunkin millions of free impressions, where the brand then decided to capitalise on this by extending Charli an invite into their brand ambassador program. She even ended up having her own coffee drink released at stores in the USA.


Benefit Cosmetics


Benefit Cosmetics was one of the first brands to see this new trend of beauty streamers and at the end of 2020, they launched an influencer campaign on Twitch aimed at female gamers, called ‘Game Face’. The cosmetics company collabed with more than 20 female gamers from around the world to broadcast non-stop content on its Twitch channel for a week. With more than 5,000 hours of streaming viewed and an average of 3,000 viewers throughout the week, Benefit Cosmetics succeeded in establishing a relationship of trust with its audience whilst also showing itself as the reference channel mixing video games and beauty on Twitch. Overall, the best influencer marketing is when both the social and content marketing tools work, and where credibility and genuine authority are already established in the minds of the audience. Marketers and brands clearly believe in the effectiveness of influencer marketing, and this has led to an explosion of new content created over the last year and why you will be seeing more and more online personalities filtering into mainstream campaigns.