Understanding Influencer Marketing
The growing expansion of social networks has created countless possibilities not only for communication between individuals but also for companies. Thus, new ways to market products and services have emerged through platforms such as Instagram, Facebook, and YouTube. One of the most important ones is influencer marketing.
What is influencer marketing?
This type of sales technique is based on using an individual, with great popularity and influence in a specific niche, to promote a brand, product, or service. We can’t say that this is an entirely new market technique. Brands have used celebrities, athletes, and prominent social figures to promote their product for years.
However, with social networks, it is not only celebrities who can become prominent figures and position themselves as experts in certain niches. Now, it can be practically anyone who has a YouTube channel and a large following. Currently, there are hundreds of people around the world who have successfully positioned their social networks and generated audiences of millions of viewers.
Therefore, this marketing strategy has expanded considerably. Many companies are already taking advantage of the reach and persuasion of celebrities in influencers in social networks, to increase their sales. And although, for many companies that is a successful strategy, many other sectors are doubtful of how to approach this new sector and get a good result.
Influence marketing alone is not a guarantee of success. It has to be accompanied by a strategy and proper prospecting. So if you are considering using it to promote your company, you might find this information useful.
What is the market value of influencer marketing?
Influence marketing has shown rapid growth over the past years. Its current value is estimated at 2.3 billion US dollars, and 2022 is forecast to reach up to 15 billion.
What advantages does it have over traditional marketing?
- Niche approach
- Generation of closeness and humanization of brands
Where does influence marketing happen?
Every social media platform is suitable for this marketing strategy. However, some have proved to be more effective for brands. These are the top five.
- Instagram: this is the platform by choice of 79% of brands for influence campaigns.
Which sectors can get the most out of influencer marketing?
While currently there are influencers for a large number of niches. Some sectors have had better results from this strategy. When you manage to increase your return and sales as a result, among them are.
- Makeup and cosmetics
Tutorials and videos on YouTube about makeup have created a vast niche for this sector on the net. Users of these products go to these channels with increasing frequency to find out about the latest trends in the industry. How? Through their favorite influencers.
In the same vein, social networks have had a significant impact on the fashion industry. The possibility of generating trends and creating visually attractive content for users, plus the development platforms, have revolutionized sales in fashion.
The technology sector, with its constant innovation and trends, has had great success with influence marketing. A growing audience has been developed, that highly trusts its social media for reviews, to consume the best products of the last generation.
- Tourism, travel, and entertainment
Another of the sectors that have obtained the great advantage of influencer marketing is travel. The number of influencers who share their travel experiences on the networks is growing. Thus creating a large selection of potential partners.
In our opinion, there is a clear tool, which allows the monetization of this “influence”, this is influbook.com. Thanks to it, influencers can show brands their reach, create their own eCommerce portal, and even display a “Social Wall” on their websites, blogs or social profiles. Do not stop trying.
They even have an interesting project to create a cryptocurrency that virtualizes the value of Influence, calling it Fluence.
Also, when accessing the website, you can check for posts on any social networks for a specific set of keywords (e.g. your brand) and already present influencers by typing their names.
Other types of Influence
If you look around, there are many, many variations from the main Influence spectrum.
If you plus, are a Digital Nomad, or just want to explore the world for some time, you cannot miss nomadlist: The Digital Nomads’ Social Network.
This would be a type of Location Influence, based on “Wisdom of Crowds”.
With its exquisite design and functionalities, NomadList is the main guide for Digital Nomads on where to go, but also, with its partner websites remoteok (Remote jobs), safetywing (nomad insurance) and anyplace (coliving), you cover your necessities in the way
Could influence marketing be much more than a marketing technique? That remains to be known. What is clear is that it is a strategy that has proven effective for a large number of companies and is about to stay, at least for a few years to come.
However, the intense dynamism of social networks and the overwhelming innovation of the technology industry could make it change rapidly.