Influencer marketing is a collection of old and new marketing tools, taking the idea of a celebrity endorsement and then placing it into a modern day content marketing campaign. The main difference arises is that the result of these campaigns are usually collaboration between brands and influencers. Influencer marketing is when companies partner with influencers in order to increase brand awareness or conversions among a specific targeted audience. The aim and core of influencer marketing is to identify the influencers in your niche and make them capable to work for the companies by promoting their brand.
A good example of influencer marketing would be the Youtube Pewdiepie. He collaborated with the makers of a horror film that was set in french vault under Paris, creating a series of videos in which he underwent challenges in vaults. It was pitch perfect content for pewdiepie’s 27 million subscribers and he received roundabout double the views on a daily basis.
In india, influencer marketing is more accessible and measurable than ever before, and more marketers report finding it effective in achieving their goals. The rising excitement over influencer marketing campaigns in India is highlighted in a new survey of over 500 brands and content creators. Being risk-averse, Indian consumers are increasingly relying on influencers and word-of-mouth to decide on their purchases.
On average, more than two-thirds of marketers said they spend dollar 50,000 on each influencer campaign per year, per brand. And last year, 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. A major appeal is that time spent on an influencer campaign is comparatively short, with most respondents saying they spent under 10 hours on average. The biggest single challenge cited by marketers is ROI, the survey found. The problem of calculating ROI on influencer spending was named by 46% of respondents, and only 4% listed ROI as the main attraction of influencer campaigns. One of the key difficulties, marketers said, is the huge number of fake followers in the sector. Finding influencers who have the right fit with a brand was the second most quoted challenge (42%).
An influencer is an individual who has the power to affect purchase decisions of others because of their power, knowledge, position and relationship with their audience. An individual who has a following in a particular recess, which they actively work with. The size of the following depends on the size of the recess. Influencers act as brand advocates and produce quality content keeping their audience in their mind and work effortlessly towards distributing them in that manner which is understood and praised by consumers. They help to captivate them, which resultantly helps in retention. The influencers in social media are the people who have made a reputation for their knowledge and perfection on a particular topic. They make regular posts about a topic on their preferred social media channels and generate huge followings of energetic engaged people who always pay close attention to their views.
Listed below are some types of influencers:
- CELEBRITIES :- Influencer marketing grew out of celebrity endorsement. Businesses have found for many years that their sales usually rise when a celebrity promotes or endorses their product. There are still many cases of business, particularly of high end brands, that use celebrities as influencers. The problem for most brands is that there exists so many traditional celebrities willing to participate in this kind of influencer campaign, and they are unlikely to come cheaply. The exception will lie if a firm makes a product that a celebrity already likes and uses. In that situation, the celebrity may well be prepared to use his influence to say how good he believes the product to be.
- INDUSTRY EXPERTS AND THOUGHT LEADERS :- Industry leaders and thought leaders gain respect because of their qualifications, position, or experience about their topic of expertise. Often, this respect is gained more because of the reputation of where they work. If you are able to gain the attention of a journalist of a national newspaper, who in turn talks positively about your company in the article, then they are being used influencer in much the same way a blogger or a social media influencer.
- BLOGGERS AND CONTENT CREATORS:- Many bloggers have built up sizeable followings in specific sectors. For instance, there are highly influential blogs about personal development, finance, health, child rearing, music, and many other topics, including blogging itself. The key thing successful bloggers have common in their mind is the respect of their readers. Bloggers and YouTubers rarely rely only on their existing audiences to just turn up to their site hoping there is new material. They usually promote new posts or videos heavily on social media, which makes most of these bloggers and content creators micro influencers as well.
- MICRO INFLUENCERS :- Micro influencers are normal everyday people who have become known for their knowledge about some specialist field. As such, they have usually gained a sizeable social media following amongst devotees of that niche. Of course, it is not just the number of followers that indicates a level of influence, it is also the relationship and communication that a micro influencer has with his followers.
The question arises many times, How to find the right influencer for any business?
Steps to find the best influencer for their business:-
- Increased reach of content An influencer with a greater reach to his followers will always be a good choice. If they can influence their followers, they will definitely be a great success for any business.
- Brand awareness An influencer when posts on social media and can increase the brand value is definitely a good choice of influencer.
- Blazing engagement Engagement of audience is an important factor for any business to grow on any platform.
- HIGHER RETENTION An influencer who can engage with audience will definitely result out to be a good influencer. Higher retention is key to success.
Keep in mind your domain and your goals to know what kind of Influencer works best for any business.