What is influencer marketing and who are influencers?
Influencer marketing is the new fad in the online marketing arena. Though it has been around for a while, few people understand what influencer marketing is or the nitty-gritty involved. For starters, influencer marketing is a form of marketing that uses influencers for brand endorsements, product mentions from influencers on social media.
Social media or online influencers, or simply influencers, are those individuals who have a large social media following or fan base and are considered experts in their respective domains. Influencer marketing is highly influential because of the high trust social media influencers have built with their followers.
Not too long ago, brands were heavily reliant on celebrities for product and brand endorsements or promotions. However, with the advent of the internet and the never-ending innovations and improvisations in the tech and digital sphere, social media influencers are on the rise. And the demand for social media influencers keeps growing by the day.
One of the critical factors for the substantial rise and success of influencer marketing is trust. Influencers have carved a niche for themselves in social media and have generated a great deal of trust among their followers. Brands can leverage an influencer’s trust factor by having them mention or recommend their products or services. This works in the Brand’s favor by acting as social proof to the potential customer base.
The Meteoric Rise of Influencer Marketing
Influencers are capable of driving high-level engagement, expanding reach and sales, thereby benefitting a brand or company big time.
A study has found out that, there has been a 1500% increase in the number of Google searches for “influencer marketing” since 2017 which is phenomenal, to say the least. The influencer marketing industry was worth $1.7 billion in 2016. It has since grown to $9.7 billion in 2020 and is expected to be worth around $14 billion by the end of this year.
The statistics mentioned above go on to speak volumes about the gravitas, influencer marketing holds and it is only going to grow manifolds from here.
Why opt for an influencer marketing agency?
As already discussed, influencer marketing is a booming industry. And with an array of influencers available, it has become a monumental task to make the right pick. This is where an influencer marketing agency comes into the picture. Influencer marketing is still a niche area, and it’s crucial the agency has contacts with the right people. A solid influencer marketing agency comes in handy by helping you make an informed choice.
Influencer marketing agencies have out-of-this-world connections, and they also take care of scouting, hiring, and contacting said connections. This ensures that you can sit back and relax and watch your business grow. An influencer marketing agency will also manage and post the influencer endorsements of a brand or business’ products to their website and social media channels.
Their work is not restricted just to the aforementioned tasks but much more. An influencer marketing agency will closely monitor, track, and analyze the results of influenced campaigns. Based on the analytics they collect, they are able to tell if a piece of content is working or not
or suggest a course of action for optimal success.
How to select the best influencer marketing agency?
Now that we know the importance of an influencer marketing agency. Let us learn what it takes to select the best influencer marketing agency.
To begin with, it is imperative that the agency that interests you has a strong track record. You don’t want to work with a newbie.
It is advisable to look for agencies that usually work with clients of your size and budget. Work process is another key variable that should be considered.
As the influencer marketing landscape continues to expand, brands and businesses will require a higher level of skill sets to leverage it effectively and fine tune it. If you are unsure about picking the right influencer marketing agency, then we are happy to let you know that we can help.