As social media usage explodes and the platforms to engage with others online continue to proliferate, influencers have become a key group of players in the world of online marketing. More and more businesses are trusting influencers to endorse their brands and products, and in turn, bring them more customers. Why does this strategy work so well, and how does it differ from the endorsement strategies of the past?
Who is an ‘influencer’?
An influencer is anyone with a large group of followers online. As people become increasingly more connected over the internet, gaining notoriety in niche markets is no longer a game restricted to celebrities. An influencer could be someone with a popular baking channel on YouTube, a fashionista with a few thousand followers on Instagram, or even someone who posts funny videos on TikTok. In short, anyone can be an influencer.
Why do influencers matter in the market today?
Influencers usually have incredibly loyal followers. If an influencer uses your product, flashes your brand in one of their videos, or writes about it on their blog, there’s a good chance that many of their followers will emulate them. It’s an almost sure-fire return on investment. In fact, according to a 2018 survey, 89% of marketers said that the ROI on influencer marketing was either comparable or better than other networks.
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