Influencer marketing has become one of the most popular ways to promote products and services in recent years. And it is no wonder why—influencer marketing allows businesses to tap into the power of social media and connect with consumers in a more authentic way. Working with an influencer marketing agency can ensure your brand works with genuine influencers that resonate with your target audience.
As social media usage continues to grow, so does the opportunity for businesses to reach their target audiences through influencer marketing. In fact, according to a recent study, the global influencer marketing industry is expected to reach over $15 billion in 2022.
There are several reasons why influencer marketing will continue to grow in popularity. Let's outline some of these influencer marketing increases below.
The first is because social media usage is on the rise. Over half the global population is active on social media; that’s a huge number of potential customers businesses can reach through influencer marketing. In addition, as Gen Zs have grown up with social media and are entering the workforce, meaning there are more social-led consumers to target.
Influencer marketing is a proven, highly effective way to reach consumers—particularly millennial and Gen Z consumers. Studies have shown that influencer-led campaigns can result in up to 11X more ROI than traditional marketing campaigns.
Nowadays, consumers are more likely to trust the recommendations of an influencer than they are a brand or paid advertisement. This is because consumers don’t like to feel like they are being marketed to; influencers are considered more authentic and relatable and can target consumers natively within their social feeds.
Social media users follow influencers because they enjoy their content and trust their opinions. Influencers have worked hard to build this trust, and won’t risk losing it for just any sponsorship. Because of this, when you work with an influencer, the sponsorship will be more impactful because their audience knows the influencer genuinely believes in the brand, its values and its products.
Influencer marketing is a flexible form of marketing that can be adapted to any budget. There are influencers of all sizes, from micro-influencers with a few thousand followers to mega- influencers with millions of followers. Depending on your available budget, you could use a selection of smaller influencers or focus on a few mega-influencers to promote your brand.
As social media platforms continue to evolve and offer new content features, influencer content can become more creative. Even recently we have seen an explosion of short-form video content that’s been made popular by TikTok, Reels and Shorts, and a boom in livestream shopping content that’s hosted by influencers.
Influencer marketing is here to stay. As social media usage continues to grow and businesses look for more effective ways to reach their target audiences, influencer marketing will only become more popular.
If you are not already using influencer marketing to promote your business, now is the time to start. With its many benefits, it is a marketing strategy that you can't afford to ignore. Get in touch with an influencer marketing agency to ensure your influencer marketing strategy is optimized from the get-go.