What is influencer marketing? Its type, benefits, and how it will boost your business: The Ultimate Guide for 2024
Nov 21, 2023
Did you know that Virat Kohli (125 million Instagram followers) charges $680,000 (over 5 crore) for each promotional post because he is a good influencer and most Indians know and trust him.
Love it or hate it, social media has become one of the most impactful inventions of our generation. About 48% of the people in the world use some kind of social media, like Facebook, Instagram, or Twitter. Users don't just follow them, but also follow their favorite brands and look at their social media pages to decide what to buy.
WHO ARE INFLUENCERS ?
At its simplest, an influencer is someone who can influence others. Only those with a 'celebrity' status were considered influencers in 2010. Fast forward ten years, and while celebrities continue to play a role, a 'influencer' can now refer to anyone who has a large social media following and is considered to have 'influence' over their followers.WHAT TYPE OF INFLUNCERS?
Nano influencers: Between 1,000 and 5,000 followers.
Micro influencers: Between 5,000 and 20,000 followers.
Power or mid-tier influencers: Between 20,000 and 100,000 followers.
Mega influencers: Between 100,000 and 1 million followers.
Celebrities: More than 1 million followers.
SURPRISING INFLUNCER MARKETING STATISTICS :
Statistics reveal that more companies are investing in influencer marketing.1. 86% of Women Use Social Media for Purchasing Advice.
2. Instagram is the Preferred Social Media Channel for Brands Who Engage in Influencer Marketing.
3. Influencer marketing is used by 57% of fashion and beauty companies.
4. 130 million Instagram users click shopping posts to find product information each month
5. Two-thirds of consumers use ad blockers, but the same people willingly take advice from influencers.
6. 82% of People Trust Social Networks to Guide Purchasing Decision.
7. Social Media Marketing Has Surpassed Print Marketing.
8. 42% of Customers Use Ad-Blocking Technology.
9. 71% of Marketers Believe Influencer Partnerships are Good for Business.
10. 70% of Teens Trust Influencers More than Traditional Celebrities.
According to Statista, the size of the global influencer market has grown from $1.7 billion in 2016 to $13.8 billion in 2021.
In the "Influencer Marketing Benchmark Report 2021" of Influencer Marketing Hub, 2021, they surveyed more than 5000 marketing agencies, brands, and other relevant professionals and revealed that the majority of marketers believe that influencer marketing offers the highest Return on Investment (ROI).
FUTURE OF INFLUNCER MARKETING:
According to research, at a compound annual growth rate of 32.0% over the projected period, the market for influencer marketing platforms will increase from $6 billion in 2020 to $24.1 billion by 2025. There will be more influencer campaigns, giving them more motivation and opportunities to represent brands and earn profit from their efforts.CONCLUSION:
With the rise of social media stars over the past few years, influencer marketing has expanded very much. Influencer marketing helps big brands get more customers and gives small businesses more visibility, which gives them a higher return on investment than other marketing channels.
WHY BOOKMYAD?
Bookmyad will help you choose an influencer that’s relevant to your brand, has a strong following, lots of reach, and will create valuable, relatable posts for your business or brand.
If you are seeking a Digital Agency that can assist you with your Marketing, look no further!! Bookmyad meets your needs. Bookmyd offers its services and helps you take your business to a different level through Influencer marketing. You ask for features, and Bookmyd delivers! This is exactly why our clients trust us with their businesses and socials!
Our Influencer Marketing strategies will boost your business’s earning potential. Contact us today by calling us at +91 8800334456 or email us at info@bookmyad.com to learn more. or click on the link given
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