Influencer marketing is become the latest term to make its way around marketing-focused communities. It’s starting to become bit of a buzzword and, as usual, the meaning is starting to be lost in an endless game of Chinese whispers and reinterpretations.
So in this article, we’re going to both explain what influencer marketing is and also help you understand why it’s here to stay to become the future of digital marketing.
What exactly is influencer marketing?
Let’s start with a simple definition of what influencer marketing is.
Influencer marketing focuses on using influential people to market your products and services. Influencers can be teams, brands, businesses or even individual people. Influencers typically have an audience that can be in the form of customers, followers or even fans.
Why influencer marketing is such a big deal
The internet has become a huge opportunity for marketers over the past few years. This is because social media has become a huge platform where businesses can reach out to an incredibly diverse audience all across the world.
Social media spawned the idea of social media marketing, which in turn created the concept of influencer marketing. With some social media accounts garnering massive amounts of attention (sometimes with hundreds of thousands of followers) they had immense marketing potential and this is why businesses are starting to take notice of them.
Some creative businesses have started to use influencer marketing as a way to grow their brand at a much lower cost than usual. Influencers vary their prices based on what they can offer, and you could reach your audience for a fraction of the cost that you would pay a professional company.
Is influencer marketing the only future?
Digital marketing is a broad spectrum of different strategies. We believe that forward-thinking digital strategies such as Cloud Cartel will start to take advantage of influencer marketing and utilise it as part of their plans, but it won’t take over existing forms of digital marketing.
In many ways, influencer marketing will just become another configurable cog in the machine that is online advertising. More and more strategies to get your products into the hands of customers are appearing, and influencer marketing just happens to be one of the more recent forms that companies are starting to capitalise on.
Not only do companies take advantage of influencer marketing, but some businesses are starting to sell influencer marketing on marketplaces that rank influencers based on their conversion and engagement rates. After all, not all influencers are equal even if they possess the same follower counts, so it’s important to examine each one to see how effective they are. This is a time-consuming process, hence why many companies are now offering their services as mediators that connect businesses with influencers.
With the increased popularity of influencer marketing and businesses cropping up to mediate influencer marketing transactions, we expect the industry to grow rapidly in the coming months. So whether you’re looking for an affordable way to advertise your products or have plans to become an influencer, now is the time to take advantage of this growing market.