Influencer Marketing: What Your Brand Needs to Know
Influencer Marketing is undeniably one of the most interesting and exciting segments of marketing, enabling an authentic way to connect with your customers while simultaneously bringing your brand to life.
Here, are the top 5 Things Your Brand Needs to Know About Influencer Marketing.
1. What is Influencer Marketing?
Forbes states that ‘the act of influencing requires a specific result i.e. a change in thinking or behavior’. Thus, an influencer is someone who has the power to impact others’ perceptions.
When applying this definition to marketers, an influencer is someone who helps other people buy from you (Forbes).
2. Why is influencer Marketing important for brands to take note of?
While not a new concept, Influencer Marketing has grown exponentially over the past few years and is only expected to become more salient in marketing strategies. In fact, new reports found that this year alone 39% of marketers plan to increase their IM budgets (SMW & YouGov).
In addition, a report by Social Media Week and YouGov found that nearly half of U.S. adults (48%) say they have purchased a product after learning about it via an online influencer (SMW & YouGov). It went on to say that women are more likely than men to say influencers inspire their future purchases (52% of women vs. 44% of men). Proving that influencers act as a vital factor when it comes to making decisions on what to buy.
3. What’s the best platform for Influencer Marketing
In their report, Social Media Week and YouGov found that Facebook is the most common platform for following influencers (SMW & YouGov). We think this is largely be in part to Facebook’s Brands Collab Manager – a search engine the media giant built to help connect marketers with social media influencers. Allowing brands to search the platform for the audience they want to reach and have a tool point them in the direction. (Adweek).
However, it’s important to note that while Facebook may be #1 at the moment, video platforms like Instagram, YouTube, and Snapchat are more popular among younger generations of consumers. If you’re planning an Influencer Marketing strategy, these platforms should definitely not be overlooked.
4. Who is most ‘influenced’ by Influencer Marketing?
The short answer… EVERYONE.
The SMW & YouGov report found that one-third of respondents overall said they follow influencers on Facebook, but behavior across other major social platforms varied by demographic:
18 to 34 year-olds were more likely to follow influencers on:
Instagram (34% vs 17% of 34-54 and 4% of 55+)
YouTube (39% vs. 23% of 35-34 and 10% of 55+)
Snapchat (13% vs. 7% of 35-54 and 3% of 55+)
The report went on to say that within these channels:
44% of U.S. adults say they are spending at least one hour with influencer content per day
16% of adults 18-34 reported spending three or more hours per day with content created by online influencers
5. How important is authenticity when it comes to Influencer Marketing?
Several studies have determined that authenticity may be the most important component in Influencer Marketing.
Stackla’s Consumer Content Report found that consumers crave authenticity now more than ever, with 90% of Millennials stating that authenticity is a key factor when deciding which brands they want to support (Social Media Today).
Moreover, SMW & YouGov report found that most consumers are aware of the influencer-sponsorship model and that nearly one-third of respondents confirming that they have unfollowed an influencer because of a brand or product that they have endorsed.
Proving that authenticity is key to creating & maintaining an active and engaged audience.
Forbes -What Is Influencer Marketing and How Can Marketers Use It Effectively?
The Influencer Marketing Report – Social Media Week (SMW) and YouGov
AdWeek – Influencer Marketing Is Going Mainstream with Facebook’s Upcoming Tool
Social Media Today Survey Finds Consumers Crave Authenticity – and User-Generated Content Delivers