How Influencer Marketing works and what are its advantages

Oct 19, 2022
How Influencer Marketing works and what are its advantages
Influencer marketing is considered one of the best ways to grow your brand's online presence and connect with your target audience. It is essentially seen as a by-product of social media advertising. Anyone can be an influencer—an individual, a group, or a brand. Advertising your product through these influencers allows you to reach a large audience, build brand awareness, and generate new leads.

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. Hence, if you are planning to launch your product or brand in the market, choosing influencer marketing as the medium of advertising is the right thing to do.
The evolution of influencer marketing

When there was no social media, people relied on print, radio and television for product recommendations. However, as the times and customer preferences changed, marketers discovered that utilizing a well-known figure to launch a product might have a significant impact. In fact, influencers abroad have been ahead in line with setting trends and popularizing influencer marketing. If we look now, influencer marketing in <a data-ga-onclick="Inarticle articleshow link click#News#href" href="/topic/india" target="_blank">India</a> is growing at a tremendous rate. No doubt ads are still considered a powerful tool for marketing your product but the impact drawn by influencer marketing is remarkable. 40% of internet users, according to Global Web Index, employ ad-blocking software, which means that a sizable portion of customers never even view the advertisements that marketers pay for. Hence, working with influencers offers a practical solution since customers discover things through content that is unique to the platform where they are already present.

The demand for influencers as compared to celebrities in general is at its peak. Influencers with strong ties to their culture and ethnicity and the ability to connect with the local audience are especially sought after by regional brands, which is why they are in high demand. And this provides a compelling argument for why marketers seek out local influencers.
Basically, the customer is seen as the king of the market, and marketers who want to stand out from the competition and perform at the top of their game must keep an eye on consumer preferences. In order to protect consumers from being the target of false facts and to ensure that they only receive information that is true to its nature, the Advertising Standards Council of India has established some guidelines in this regard exclusively. This has proved to be beneficial for both influencers and audiences because it allows influencers to market products in line with their genuine nature, which helps audiences learn about the proper information.

Benefits of influencer marketing

Cost-effective: Influencer marketing is seen as a cost-effective marketing strategy in comparison to other marketing strategies. Influencers possess the skills to shoot and market the product in the right manner, which is not only informative but it’s relatable and entertaining too. So, all marketers need to do is invest in the right influencer and watch as their product generates buzz.

Personalised and relatable: One most important factor that makes marketers choose influencer marketing to create product awareness is the personal touch and relatability that comes with it. Influencers are able to connect with the audience more, which hampers their purchase decisions.

Road ahead!

Influencer marketing has become the next big thing in the marketing funnel. With the kind ease and effectiveness it comes with is making marketers choose it to be their prime method for achieving top of mind awareness. Influencers are in high demand these days with the kind of relatability and personal touch they come with, which acts as a turning factor in impacting consumer purchase decisions. Influencer marketing also generates popularity for the influencer and a positive reputation for the company, creating a win-win situation for both the marketer and the influencer.

Source: indiatimes