The Current State Of Influencer Marketing
In the last ten years, social media platforms have brought many changes in our lives. There is no doubt that the increased use of social media and their continuous improvement have changed the way we communicate, get and share information.
Of course, these platforms have not affected only our personal lives; they have also affected the activities of many businesses. Social media marketing has proven to be very efficient and it seems that every modern company is trying to get the most from this marketing. This is especially true when it comes to influencer marketing.
Before we share the details about this marketing, let’s highlight the fact that according to several surveys, eight out of ten people say that they usually rely on earned advertising or word-of-mouth advertising in the process of making a purchasing decision.
(1) This is exactly what influencer marketing is. An influencer is an individual who is an authority/expert in a certain industry and people value their opinion. In addition, they are active online, especially on social media platforms and have a significant number of fans/followers. Journalists, celebrities, and bloggers are some of the most common influencers.
So, when some of them share a post and they claim that some product or service is good, their suggestion is usually followed by hundreds or even thousands of people. This is the reason why many businesses have included influencer marketing in their general marketing strategy.
Now that you know how beneficial influencer marketing is, it is time to check the current state of influencer marketing and possible trends.
Even though some of the most popular videos shared by celebrities have reached more than one billion views, their follower/fan base is a little bit smaller. For example, Taylor Swift has more than 19 million subscribers on YouTube. But, what is interesting is that half of the top 10 YouTube channels (in terms of subscribers) don’t belong to professional artists.
(2) For instance, the channel with the highest number of subscribers (45 million) belongs to PewDiePie aka Felix Kjellberg, a Swedish YouTube comedian.
So, it doesn’t mean that you should be a celebrity to become an influencer. On the other hand, not all of these social media celebrities use their channels for marketing. Although PewDiePie never shares marketing messages even in the form of recommendations, his colleague from Vine, Logan Paul does this on a regular basis. Dunkin Donuts and Nike were some of the brands that have used his influence to market their products.
It is interesting that many popular YouTubers started their channels as a hobby, but managed to become partners with some popular brands. Michelle Phan which started a channel dedicated to makeup tutorials and how-tos is now partnered with the popular beauty products manufacturer L’Oreal.
Influencer marketing is present for a few years now and just like every form of modern marketing it doesn’t stop growing and changing. This is the reason why businesses that want to get the most from their influencer marketing campaigns should follow the latest trends and news and must be aware of the current state of influencer marketing.
If you are one of them, we won’t waste your time and we will get straight to the point – Snapchat and Instagram are on the rise, YouTube, Facebook, and Twitter have standard influence while Vine is going down. When it comes to influencers active on social media platforms, Vine was one of the most important players. The aforementioned Vine star Logan Paul has over four billion loops, an impressive number, but it seems that the interest in his vines and in this platform is going down. Half of the users with a significant number of followers (at least 10000 followers) have left Vine a few months ago. As a matter of fact, even Vine’s superstar Paul has been inactive for two months now.
(3)According to some experts, the fact that the content is incredibly short is one of the reasons why both influencers and the audience are moving to other platforms. In addition, the most popular social media networks have invested a lot in their video features. But, the fact that Vine’s popularity is decreasing doesn’t mean that influencer marketing is weakening. On the contrary, the users are just moving to other social media networks. It is not unusual for influencers to have profiles on two or more platforms and to be active on all these platforms.
What is interesting is that some experts believe that Instagram will become the best platform for this form of marketing in the next couple of years. This is the social media platform with constant growth and even though its audience is relatively young, it is not too young.
We should not forget to mention another social media phenomenon – Snapchat. When Snapchat occurred most people were skeptical and this was especially true for marketers. However, there are some experienced marketers who have used this platform to promote brands, products, and services even with the help of influencer marketing.
Regardless of the platforms companies use, the truth is that influencer marketing is on the rise. In fact, it is so popular and effective that some big companies are developing independent influencer strategies. However, the so-called influencers are becoming more aware of their role in marketing and the costs related to influencer marketing are increasing. The companies that have not yet tried this form of marketing should not wait for a long time because testing such strategies in the future can be quite costly.
Another thing that is causing dilemmas to many businesses is whether they should use the help of a few quite popular influencers or many seemingly less popular influencers. There are reports of success from companies that have used both tactics, so it really depends on the business message you are trying to share.
Influencer marketing is here to stay and more and more people are getting aware of its importance. Judging by the latest reports and figures, the impact of influencer marketing in the near future is expected to grow.
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