What is Influencer Marketing and How is It Growing in the US?
In recent years, influencer marketing has become one of the most popular and effective ways of advertising products or services. In layman’s terms, influencer marketing refers to the process of finding and collaborating with people who are respected and followed by large and loyal audiences, in order to promote and raise awareness of a particular brand, product, or service. As a result, influencers have become powerful and sought after entities, capable of reaching large amounts of target audiences through their respective platforms. This article will explore what influencer marketing is, as well as how it is growing in the US, and why it is becoming more popular amongst companies.
Definition
At its core, influencer marketing is a form of marketing which focuses on leveraging the reach and relationships of key industry or lifestyle influencers in order to promote or promote brand awareness and drive consumer engagement. Influencers, or those who are generating content to create relationships with their followers, are typically selected for their knowledge, expertise, and connections within their specific area or field.
For example, a company wanting to launch a new product may partner with an influencer who is well-known within that industry, in order to generate buzz and excitement around the product—and ultimately increase sales. In general, influencer marketing can be broken down into three main categories: celebrity, micro-influencer, and nano-influencer.
Celebrity Influencers
Celebrity influencers are typically top-tier influencers with a large following on social media, such as athletes, actors, models, and other members of the public sphere. Due to the extent of their reach, engagement, and influence, celebrity influencers can be extremely effective in promoting and raising awareness of products or services, though they are usually the most expensive option.
Micro Influencers
Micro Influencers are influencers who have between 10,000 and 1 million followers on social media. While they have fewer followers than celebrity influencers, they are still able to command a large reach within their specific niche. Micro influencers are typically more affordable than celebrity influencers, and often have higher engagement rates due to the fact that their target audiences are smaller, more focused, and more likely to engage with the content.
Nano Influencers
Nano influencers are those who operate within platforms such as Instagram, YouTube, or Snapchat and have fewer than 10,000 followers. While their reach and following are typically smaller than the other two categories, nano influencers are able to connect with their followers in a more personal and intimate way, which often results in higher engagement rates. Additionally, nano influencers are usually more affordable than celebrity and micro influencers, making them an attractive option for smaller businesses.
Growth of Influencer Marketing in the US
In recent years, influencer marketing has become a widely popular form of marketing in the US—and it’s easy to understand why. According to a survey conducted by SocialPilot, 89% of marketers believe that influencer marketing is an effective form of marketing, and a recent report by Activate suggests that 88% of US consumers trust influencer recommendations more than traditional advertising.
These statistics demonstrate the tremendous potential of influencer marketing, and it’s no surprise why it has become so popular with companies in the US. Additionally, influencer marketing can be a cost-effective approach, since companies can partner with a range of influencers, from nano to celebrity—so businesses of all sizes can benefit.
Benefits of Influencer Marketing
There are several key benefits associated with influencer marketing, which is why it has become so popular in the US. Here are some of the main advantages of leveraging this type of marketing for companies:
• Increased Brand Awareness – By partnering with an influencer, companies can significantly boost their brand’s visibility among target audiences, leaving a more lasting impression.
• Targeted Reach – Companies can identify influencers who can effectively reach their exact target audience, leading to higher conversions and sales.
• Established Trust – Influencers have already established a trusting relationship with their followers, which can be leveraged to effectively promote a brand.
• Affordable – Influencer marketing can be a more cost-effective approach than traditional marketing, as companies can partner with a range of influencers, from nano to celebrity.
• Enhanced Engagement – By partnering with influencers, companies can tap into a much larger audience, as well as have their content actively shared—which leads to higher engagement.
The Future of Influencer Marketing
Given the recent surge in popularity in the US, it is likely that influencer marketing will continue to grow and develop in the future. As companies become more aware of the effectiveness of influencer marketing, it will likely become an even more essential part of their marketing strategy. Additionally, as brands look to better understand their target audiences, they will likely continue to rely on influencers to create meaningful, engaging content that resonates with their followers.
Influencer marketing is a powerful form of marketing that has recently surged in popularity in the US. By partnering with influencers, companies can significantly boost their brand’s visibility, increase their target reach, and generate more trust with their followers. It is likely that this trend will continue to grow in the future, and companies should certainly consider utilizing influencers to maximize their reach, as well as to engage their target audiences.
