Influencer marketing is doing wonders in the marketing arena. You must be asking, how? For starters, it is providing 5 - 20 times of return on investment on average with right influencer marketing agency. But what is influencer marketing? To understand it, we first have to understand who is an influencer.
Influencers are the personalities who have an upper hand in guiding or affecting the decisions, behavior and opinions of large number of people. Earlier the celebrities, kings, political leaders etc. were those persons who could influence people’s behavior. Now the basket of influencer has increased and it accounts the social media platform’s leading personalities too. The number of followers and the amount of engagement their social media handle gets; increases the authority of an influencer.
Due to do credibility and trust factor of the influencer, he can reach to the wider audience. The loyalty that the influencer receives directly connect with the consciousness of the followers.
Hence, this trust, credibility and authority of social media influencers has attracted marketers to do promotion and advertisement through these new key opinion leaders.
More than 97% of the marketers accepts the potential of influencer marketing and its benefits. They start utilizing their prominence to introduce company products and services to customers through the influencers. The promotion can be in a subtle way through an integrated influencer marketing campaign where a brand is promoted for few second in a long video. Secondly, it can be a dedicated video where an influencer can introduce or review a product/service. Thirdly, it can be a direct or indirect promotion through photos where brands are endorsed. Fourthly, it can be a simple text via tweet or linkedln post and many more ways.
The methodology is known as Influencer marketing. Marketers can directly approach influencers to execute a campaign or hire any top influencer marketing company to execute the campaign for them. Executing through a company is a much better choice, as they have creative strategists, experts, creators and years of experience and understand the market better.
What Are The Key Aspects Of Influencer Marketing?
The influencer marketing statistics has already proved its worth and marketers are actively using it. Influencer marketing campaigns are filled with creativity that maximizes the growth rate.
- Holistic winning pitch: The tripartite agreement between influencer, influencer marketing agency and brands ensures the benefits to all. The content is served on behalf of brands via the influencers under expert guidance of influencer marketers.
- Trust and transparency: The influencers not only bring outreach and engagement. The most important factors that they transfer to the brands are trust, loyalty, recognition and awareness. They are non-tangible but yet perceptible. It becomes very much important for long term evolution of the brand.
- Advanced tools and technologies: The latest technologies are responsible for a lot of changing dynamics happening around us. The result of any input is directly affected by the techs. Latest tools and technologies help in giving the best output that one can have in contemporary time. It appeals the customers and in return push call to action.
- Organized marketing campaign: The content curation rest on the foundation of data driven content and expert organization of campaigns. The expert panels have a deeper understanding of the nuisances of the market. every step has already been critically analyzed to optimize the best result possible.
- Organic developments: The influencer creates reliability, loyalty, awareness and transparency. More of the organic engagement converts into honest purchasing decisions.
- Measured results: The campaigns are based on performance analysis. The creation, formulation, innovation, and implementation provide traction to campaign management and set the tone of brand narratives and ultimately provide augmented results.
How The Market And Customers Are Responding To The Influencer Marketing?
The industry is actively involved in the latest trends and pursing the recent changes in the market to leverage the creator’s influence and authority to garner best results for every involved party.
- From $9.7 Billion in 2020 to $16.4 Billion in 2022 and further Coherent Market Insights forecasted that with the CAGR of 31.9% it will grow to $33.3 Billion by 2027.
- Influencer marketing in India is also gaining traction. In 2023 the valuation stood at 16.4 billion Indian Rupees and it is projected to grow at CAGR of 25% in next five years to 28 billion Indian rupees by 2026.
- HubSpot reported about consumer behavior that, more than 33% of Gen-Z are actively following Word-of-mouth-marketing and decide their purchasing decisions.
- Shopify reported that, more than 61% of customers trusts the key opinion leaders and inspire buying actions.
- According to Grynow media, more than 40% consumers turn to Influencers to understand the product better and decide on buying.
Conclusion
To leverage the best influencer marketing strategies that are being actively utilized in the industry, brands need to ride the wave of influencer marketing. Brands can hire Grynow which is considered as the leading influencer marketing agencies in India as it provides data-driven decision making. The expert panel has more than 6 years of experience who have the experience of working more than 1000 brands and made the campaign a success.
This article was written in cooperation with Grynow Media