Influencer Marketing involves a brand collaborating with online and social media influencers to promote their products or services. We didn’t need to tell you that, did we?
After all, everybody today knows who influencers are. In fact, most of you reading this must be following some influencer on Instagram
But not all brands believe in the efficacy of Influencer marketing. Now, are these brands just following the popular trend of getting annoyed by influencers? Or does influencer marketing really doesn’t work for brands?
Well, there are two sides to this story. Let’s take a look at both.
The Backlash Against Inauthenticity
To be honest, there is a segment of internet users who absolutely abhor influencers. And if we dig deeper, we understand the reason behind it. Here are some statistics that explain it:
- A study showed that some influencers that the biggest brands collaborate with have 70% fake following.
- And it is one of the reasons why 47% of online consumers are tired of seeing cliched and repetitive influencer content.
If you look at just these numbers, you might be tempted to opt against influencer marketing. But hang on!
As Buddhism teaches us, the answer always lies somewhere between the two extremes.
Need for Engagement-driven Influencers
Yes, there is a problem with influencers who buy fake followers. But that shouldn’t be used as a reason to make a blanket statement on all influencers.
Remember, it’s not like the social media audience is annoyed by influencers themselves. Actually, they are annoyed by just the fake and cliched ones.
If you’re looking for new ways to market your brand, create a meaningful influencer marketing campaign. And for that, you will have to collaborate with influencers who put out engaging and authentic content.
Take a look at the latest influencer marketing trends and find influencers for your brand who have a real connection with users that form your target audience.
After all, a whopping 49% of online consumers depend on influencer recommendations. Yes, one out of two potential buyers online make a purchasing decision based on what their favourite influencer says.
Now that we’re talking about numbers in favour of Influencer Marketing, let’s dig a little deeper.
Influencer’s Increasing Influence
The Covid-19 pandemic brought a lot of drastic changes with it. The New Normal, as they call it, has done wonders for Influencer Marketing.
Here are some numbers that back the enormous Influencer Marketing growth:
- The Influencer Marketing Industry is predicted to reach $16.22 BB in 2022.
- 70% of teens tend to trust social media influencers more than traditional celebrities.
- The return of investment on influencer marketing campaigns is $5.78 for every dollar spent.
- 57% of Fashion and Beauty brands spend on Influencer Marketing.
- In general, 82% of people trust social networks to make up their mind about purchasing decisions.
The Final Verdict
Notwithstanding the tide of mistrust towards influencers, brands continue to benefit from influencer marketing campaigns.
So, all you need to do is stay in touch with the latest influencer marketing trends and find authentic influencers to collaborate with.