The Exponential Rise of Influencer Marketing

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The world of marketing has seen drastic changes over the decades, and evolution keeps surprising us. Hoardings and banners, advertisements over the radio, celebrity endorsements, and print ads played a crucial role in the marketing world. MRF became symbolic with Sachin Tendulkar, and many other brands became associated with other celebrities. Much water has run under the bridge since then, and things are no more the same. These marketing methods still play a crucial role, but gradually, brands and companies have shifted their marketing strategies to suit the changing demands. One such vital route of marketing has been the ever-emerging concept of influencer marketing.

What Is Influencer Marketing?

It is a unique form of social media marketing where marketing is done through individuals having a significant influence over a large section of people or expert knowledge on a subject matter. Here, brands and companies reach out to these people to ask them to market their products in exchange for money or free products.

Have you ever seen Rohit Sharma wearing an Adidas jersey and flaunting it on Instagram or a Virat Kohli sporting Puma shoes and appreciating the product? What you saw, there was an example of influencer marketing.

Who Are These Influencers, and Why Do They Matter?

Here comes the age-old yet golden idea of word-of-mouth publicity. If you have a significant influence over a group of friends and you are giving out a positive review of the latest smartphone you had purchased, then congratulations, you are an influencer. Film critics, comedians, actors, sportspersons, bloggers, your relative or your friend - everyone is an influencer.

The social media channels have become so popular that humans have a digital version of themselves all over these channels. What one wears, where does one spend his holidays, where does one party and what are his likes or dislikes are written all over the social media. When there is so much that is being put out on social media, it is sure to grab many eyeballs. Ironically, this is what marketers aimed at – grabbing as many eyeballs as possible for their products or brand.

Influencer Marketing Helps Brands Reach Customers in a More Personal and Customized Level.

The Exponential Rise of Influencer Marketing

Businesses soon realized that amidst the marketing clutter, it is seemingly difficult to reach the target audience. While the advertising reach through traditional means was decreasing, the follower base of these influencers was increasing. There was an opportunity for the brands as well as the influencers.

The social media giant, Facebook, now has two billion monthly active users, and Instagram now has over 800 million users and about 500 million daily users. These are crazy numbers not only for these media giants but also for the brands. Consequently, brands using the right mix of traditional marketing and social media marketing.

The social media stalwarts previously use to promote brands in barter for free products. However, they are now paid for such promotions. The next time you like an Instagram picture of Disha Patani wearing a Calvin Klein apparel, remember she is making loads of money. Selena Gomez reportedly gets paid $550000 per sponsored post on Instagram.

When your celebrity crush or your idol recommends a product, you are bound to use it.

Well, celebs have existed as an influencer over decades - earlier through television and now through social media as well. However, there is a new breed of influencers like Bhuvan Bam, Carry Minati, food bloggers, photographers, travel bloggers, and the list is endless. Millennials and youngsters are the target audience for numerous brands, and these influencers are the right medium. Skincare products, edible oils, new android applications, gadgets, consumer durables - everything is advertised through influencer marketing.

As the consumption of social media increases, influencer marketing will increase ground in the sea of marketing.

Written by - Harshit Somani

The Exponential Rise of Influencer Marketing The Exponential Rise of Influencer Marketing Reviewed by Harshit Somani on June 21, 2020 Rating: 5

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