Some time ago, influencer marketing had just appeared on the scene as the latest tactic in digital marketing. Since its inception, it has grown in leaps and bounds and has become the primary marketing method for many businesses. The rise of influencer marketing has outclassed all the other marketing methods and newer businesses are investing in it with the passing days. Also, the ones who have already started using it are increasing their budgets and finances allotted for influencer marketing.
Due to the rise in this marketing form almost all the brands are capitalizing on its mass appeal and genuine authenticity. This competitive nature of business is making every one of them make an effort to get a firm grip on the market. All the businesses are trying to expand their brand’s audience reach and empower their brand presence. Influencer marketing is extremely effective when done correctly and an excellent means for a good ROI.
Influencer marketing is an industry in itself. According to Business Insider Intelligence, the worth of the influencer marketing industry is about to be $22 billion by the end of 2022, based on its growth rate and figure of $8 billion in 2019. This industry needs industry experts to strategize and execute a campaign successfully. This is where you need an efficient Influencer marketing agency to run your campaign.
As consumers have become more sceptical and conscious of products and services they buy, their factors before purchasing have also changed. They prefer to buy products that are recommended by their favourite personalities rather than celebrities. Consumers prefer to take into account the reviews and recommendations of their favourite personalities. This empowers the influencers. People trust people more than celebrities and influencer marketing is all about genuine trust in influencers.
What are influencers?
They are people who are power users on social media. They have expertise, knowledge, and mastery in their skill areas, which is why their fans follow their recommendations and take their endorsements as genuine and positive experiences. This is why these people have the power to affect and influence the purchasing decisions of their fans. They have a following in a particular niche and genre with whom they regularly engage. The size or amount of their followers depends on their expertise in their niche, engaging capability, and genuine appeal.
Social media has been there for more than 20 years and is rapidly growing in size of users and importance. We are Social published a report in January 2019 that said more than 3.4 billion people actively use social media, which was about 45% of the world’s population as in 2019. These people are mostly millennials and generation Z and look up to the recommendations of the influencers as advice rather than depend on celebrity endorsements.
These influencers regularly post about many topics within their comfort zone on social media channels of their choosing and get views, likes, shares, comments and thus create engagement with their fans and generate enthusiasm. Businesses love to collaborate with these influencers because the influencers can promote brands, products, or services.
Types of influencers
There are mostly four types of influencers and they are generally segregated by the number of followers.
Mega or Celebrity Influencers
These are the influencers with more than a million followers. They can be movie stars, sportspersons, reality TV stars, musicians, etc. These influencers have a very wide reach but might not have a very high rate of engagement.
These influencers are the ones with followers ranging between 40k to 1 million. They may be B-grade celebrities or online experts who are successful. These are more in number than celebrities and though they do not have a high amount of followers as compared to mega influencers they do have a much higher engagement rate.
They have followers between 1k and 40k on a single platform. These people are well known only for their knowledge and expertise in a particular genre. The engagement rate is very high as they are considered to be fellow consumers of the same brands, products, or services as their followers.
These are the influencers with less than 1k followers. They are experts in highly specialized fields or have knowledge in genres that are not of very common interest. These people have the most engaged set of followers though they may not be very high in number.
Now that we know a bit about influencers in general, let us find out what an influencer marketing agency could do for you. The boom in influencer marketing has given rise to many influencer marketing agencies. However, only the top ones will be able to bring you the desired results.
Benefits from top influencer marketing agencies
Influencer marketing agencies have the required expertise in the industry to strategize and execute a campaign towards fruitful goals. They will help you grow your business to newer heights.
Get the best-suited influencers for your brand
The best-suited influencer for your brand, product, or service may not be an influencer with a high number of followers but could be a more engaging influencer with a lesser number of followers. An agency with the means will have a larger number of influencers at its disposal. This will let you choose the most fitting influencer and have greater chances of success in the campaign.
Hiring an influencer marketing agency will let you have an insight into the type of strategy which is best suited for your brand, product, or service. As a business, you may or may not be able to devise the best plan however an agency will be able to suggest the best-suited plan for you. They will even consider your brand ideals, goals, and even the targeted KPI’s for the campaigns they help you strategize the campaign.
Cost-efficient and time-saving
Hiring an agency may cost you some money but the invested money will always be lesser than what you would spend if conducting the campaign with your in-house resources. An agency knows how much to pay to which influencer and also arranges for the other parts of the campaign within your budget. Most of all, they will not be using the time from your business processes and you can use your human resources to perform their duties while the campaign is underway.
Effective measurement and assessment
An agency has access and knowledge of the analytical process which measures and assesses the campaign. A successful agency will have its own set of tools and not use the social media inbuilt analytics, thus being able to access more in-depth data and type of data sets required to appropriately measure the campaign.
An influencer marketing agency will be able to bring success to your digital marketing campaign and fuel the growth of your business to more if not equal to the anticipation. Business growth becomes easily attainable with a carefully and efficiently strategized campaign using the best-suited influencers. An agency will always save your time and money and also provide appropriate measurement and assessment of the campaign data.