Now everyone talks about influencer marketing. As per the name it is when some influencer broadcast a brand message for marketing purposes like corporate communication, selling a product, advertising some services, launching a new concept and do things to promote a brand.
Influencers use their unique relationship with their audience by working with brands that want access to their community and want a trusted voice to influence their brand product.
it is versatile: for every product, there is a niche and for every niche, there are influencers. It does not end of social media marketing as many people think but it will add a charm in it, influencer marketing is a combination of traditional marketing and social media marketing.
Use of Social media
Social media is the most important part of influencer marketing. It is practically not possible to communicate with millions of people every day but through social media, you can communicate with billions of people in just one click within a second.
List of Social media where you can do Social media
Why Influencer Marketing
- Good ROI on Investment
- Booming in Social media market
- Builds Credibility and Trust
- Highly Focused and Relevant
- Does Not Appear Pushy
- Provides Value to Your Target Audience
- Helps Drive Quicker Customer Acquisition
- Boosts Your SEO
- Easy on Your Wallet
- Aids Your Content Strategy
- Increases Brand Awareness and Reach
Let’s take an example for Influencer marketing – Bookmyshow And Zakir Khan
Recently covered 3-day event in South Korea event was on Avengers: Endgame fan event approx 4000 fans where there Zakir Khan went there and created a promotion video for .
Zakir Khan is a stand-up comedian who is very famous these day and also well known in India people like to watch Zakir video so in short, he has a good fan base and know that Avenger: the endgame is a great movie to promote. Because advance booking high in fans.
Who can be an influencer?
Anyone can be influencer from 1 thousand followers to billions of followers if they influence them then they are influencer.
- industry experts
- business partners
- well know on social media
Only having a follower on social media does not mean that person is an influencer but you have to check how knowledgeable is he/she is in a particular area.
Some Statistic about Influencer marketing By social media
- Influencer Marketing, an industry that was estimated to be worth $2 billion in 2017 and projected to be worth $10 billion by 2020, according to Adweek is growing at a supersonic rate.
- 42% of marketers find the question of fake followers and bots alarming but that doesn’t stop most of them to use influencer marketing as a strategy as 22% of 18-34 year-olds made a large purchase after seeing an influencer endorsing it, according to ClickZ.
- Instagram can be considered as the best platform for influencer marketing as according to Mobile Marketer, 93% of influencer marketing campaigns use Instagram as a platform. Influencer Marketing on Instagram jumped to 198% in 2017.
- In today’s date, marketers wouldn’t have a hard time finding an influencer as 39% of active Instagram accounts with over 15K followers are influencers and marketers have admitted that they are able to tap their target audience better by working with an influencer.
Research By social Samosa
- +1500% increase in searches for “influencer marketing” over the last three year on Google alone
- 740 platforms and agencies for Influencer marketing in 2018
- Total Start-up funding rise by $172M for Influencer marketing
- Estimated influencer marketing Growth will be $6.5 Billion in 2019
- Instagram and Facebook was preferred platform for Influencer Marketing
There are a few steps you should follow to execute a new campaign for Influencer marketing
1. create a strategy
First thing first you have to prepare your strategy for market your product by the influencer. you need to decide that, how many influencers you need, which way you want to connect to your audience, which message you want to give, how you will manage your relationship, how you will use social media for connectivity and many more.
2. Selection of influencer
The most important thing in influencer marketing is a selection of influencer.
There are many influencers for every niche it’s up to your requirement whom you want to pick and what your budget is what type of campaign you run.
You can find in many ways to find influencer by your network, Google, social media sites, and there are many platforms where you can find an influencer.
3.Maintain long term relationship
The relationship is very important in any business to maintain that relationship you have to put so much effort.
Treat them like they are your friend provide them what they need, focus on providing value to them invest time on them give answers to their question appreciate them.
Finding influencer and make them work is hard but maintain a relationship with them is the hardest part of the business it needs a long term effort.
Research shows in 2018 most companies spent just 5% to 7% of their total marketing budget on influencers.
although 73% of companies said their budget allocation would rise in 2019.
But there are some problems in influencer marketing like calculating ROI is difficult there are high numbers of fake followers so it has its own pro and con but overall it’s a good marketing idea.
And if you want to increase your business you can go for it.