There are 4 primary types of influencers:
• Celebrities (1m+ followers)
• Macro-influencers (10k–1m followers)
• Micro-influencers (<10k followers)
• Nano-influencers (1k-10k followers)
This form of marketing has become increasingly popular due to its ability to build trust and credibility with consumers – something that traditional advertising cannot always guarantee. When an influencer promotes a product or service, people view them more as a friend than just another person trying to sell something. This familiarity allows companies and brands to access a new audience which they may not have been able to reach otherwise.
• 61% of consumers trust influencer recommendations, compared to 38% for brand content.
• 60% of marketers say influencer-generated content performs better and drives more engagement than branded posts.
As a result of these numbers, marketing budgets are rising to an average of 7.5% of a marketer’s budgets. This is a full point more than the prior year. Predictions say this will increase to almost 13% in the next 3 years.
Moreover, influencer marketing provides valuable insights and feedback from customers that can be used to tailor products or services for better customer satisfaction. It also gives brands the opportunity to cultivate a relationship with their target audience which can be beneficial in the long run.
Overall, influencer marketing is proving to be an invaluable tool for brands looking to increase their reach, build trust and credibility with consumers, and gain valuable insights into what customers want. As more companies turn towards this form of marketing, it is important for businesses of all sizes to consider investing in influencer partnerships as part of their overall digital strategy. With the right approach and execution, this form of marketing can help brands achieve greater success in today’s competitive market.