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
Social