Influencer Marketing

 Digital media platforms such as Instagram, Snapchat, Tiktok, YouTube, etc., have evolved in the past few years. Over the previous few years, it has provided most fashion and brands with a platform to boost their promotional products. Like graphic designing, social media marketing is a field that has begun to progress and positively impact certain brands’ revenue.

With the onset of the pandemic, online shopping witnessed a whole new dimension, and so did social media users. There were budding influencers whom many consumers looked up to for reviews and recommendations before making certain purchases, which highly impacted the fashion and beauty industry. Brands were seen approaching these influencers on several social media platforms to promote their products and attract consumers, which was the advent of Influencer Marketing.

This marketing strategy is an alternative to traditional advertising methods and helps promote small businesses to top-end brands.

Why will Influencer Marketing thrive?

  1. Increased number of Influencers:

The growth of social media platforms will continue to provide opportunities for new people to grow as influencers. Although it may seem like there the number of influencers is on the rise, one must remember that new possibilities will override the predicted ‘saturation point’ of existing influencers.

Some influencers can strike a brand deal with the company they adore by simply sharing their views on their products. On Instagram, such collaborations are termed ‘paid promotions,’ where influencers boost their promotional products, and e-commerce traders benefit from the income earned through increased sales.

  • Growing Popularity of Marketing Agencies:

When an influencer reaches a stable point in their career, they hire agencies to handle their brand promotion offers. This concept also applies to e-commerce brands – they could be a part of an agency that provides them with resources for business and brand promotion, thus helping them connect with their ideal influencers and vice-versa.

The three main incentives influencers look for are cash, exceptional opportunities (like access to VIP products for free), affordability, and recognition. In return, brands receive revenue and popularity.

In Australia, influencers earn between $20 and $20,000 per post depending on followers, the niche they attract, engagement strategies, and the cost of content. For example, Chris Hemsworth has a massive following of 50.2 million and a 2.56% engagement rate.

3. Content:

The unique selling point of every influencer is their content which they can express on various platforms depending on what niche an influencer belongs to. Social media applications like Instagram and Clubhouse are currently primarily used for networking purposes for collaborations to increase their reach.

With all the progress happening, no one can predict the next big trend in influencer marketing. E-commerce brands are hopping onto these new platforms to promote and popularise their brands while building influencer connections.

4. Reality Check:

Most influencers stick to honesty. Initially, they might collaborate with various brands, but they settle once they spot their comfort brand.  Besides this, knowing that consumers rely on them for information and recommendations, they try to keep it as natural as possible and promote affordable brands for their followers.

Influencers these days tend to be highly transparent with their audience and try bonding with them instead of building a fake image of themselves through their posts, etc. This transparency increases reach, which benefits the influencer and the brands they’ve collaborated with.

The reasons mentioned above highlight how this marketing strategy will not die down anytime in the future. However, influencers must remember the legal issues that come into play when working with an agency or some particular brand. A breach can cost them their hard work and fame.