During the pandemic and ever since, influencer marketing has been on the rise. In fact, by 2023, it will be a $4.62 billion industry in the United States alone. Why?
COVID-19 has reshaped the way businesses interact with their customers. Many brands have since turned to social media influencers and online content creators for marketing needs. With workplaces and schools going remote, and in-person events coming to a pause, online content consumption doubled and social media users rose 12.3% in 2020. Influencer content skyrocketed as the consumption of social media content increased.
But what is an influencer? An influencer is a person who can persuade an audience to take action. Standard social influencers have at least 50,000 followers, so a partnership gives a business the chance to connect with thousands of potential new customers through the influencer’s network. Influencers strive to build credibility and trustworthiness with their followers by sharing helpful content.
During the height of the pandemic, influencers rose in popularity because they could create authentic, entertaining, and high-quality content safely at home. Plus, typically the budget for a sponsored influencer post was cheaper than a multi-channel campaign. For these reasons, businesses shifted away from in-studio production and focused more on influencer marketing.
When it comes to social media platforms, 72% of influencers use Instagram the most, followed by 13% on TikTok and 9% on YouTube. An influencer can be any type of person, whether it’s a frequent traveler sharing cost-saving tips on traveling to Europe, a celebrity promoting a new restaurant, or even a book enthusiast sharing her latest recommendations on her feed. We have even seen a recent shift in college athletes becoming influencers with the new NIL guidelines, which allows them to make money off of their “name, image, and likeness.”
Now the question is: How can I find the right influencer for my business or brand? You want a person that aligns with your core values and has a similar target audience. Sometimes it is as easy as direct messaging him or her on social media to strike up a conversation.
Searching for #sponsored, #ad, #blogger, and #influencer is also an effective way to see the influencer space on social media. There are also blogger platforms that can assist with the search. But in the end, just note that an influencer does not have to be a “celebrity.” It can be someone who really believes in your brand who you know will be an authentic representation of your business.
Are you interested in learning more about influencer marketing? Please reach out to us at The King Agency as we would be happy to get you started in this fun and ever-emerging space!