The Rise of Influencer Marketing: An Overview of the Growing Trend

The rise of influencer marketing has made it a buzzword in the media and has become a mainstream marketing technique. Unfortunately, many people are unaware of what it is as they’re only familiar with digital marketing agencies. For instance, after hearing the term for the first time, some people immediately ask what it is.

An influencer is a celebrity, public figure, or content creator with an engaged and organic following. Influencer marketing involves leveraging credibility to promote a brand through paid recommendations and endorsements. This type of marketing allows you to connect with a segment of potential customers, aside from working with a digital marketing agency. 

There are many articles about influencer marketing and other forms. So, to help them understand what it is, we will make an overview to cover the basics in 2023.

What Exactly is Influencer Marketing?

A collaboration between a brand and an online influencer is called influencer marketing. However, it can be less tangible. For instance, a brand might work with an influencer to improve brand recognition.

One of the first examples of influencer marketing was with PewDiePie, a YouTube celebrity. He and the film’s producers created a series of videos that featured challenging tasks in the catacombs. His millions of followers well-received the content and helped boost the film’s views.

It is easy to see how a celebrity would pitch a product if they worked with a company. Even if the pitch consists of ten-minute videos, the idea is still simple.  However, the key to successful influencer marketing is its wide variety of applications. Without that, people would not be talking about it.

Unlike celebrities, influencers are not limited to one area. They can be anywhere. Their large social media and web followers allow them to influence others. Examples of influencers include fashion photographers on Instagram and cybersecurity bloggers. 

They are also the individuals who answer questions that people have. They can be experts on certain topics, and they make engaging social media posts about them. They also share the best pictures, generate entertaining videos, and lead informative online discussions.

What is the Concept of Influencer Marketing?

The concept of influencer marketing combines old and new marketing techniques. It involves taking the concept of celebrity endorsement and turning it into a modern content-driven campaign. One of the main differences between this type of marketing is that it allows brands and influencers to work together.

Influencer marketing goes beyond celebrities. It also involves people who would typically not consider themselves famous in real life.

However, Traditional media often makes a big mistake when distinguishing between online influencers and celebrities. In addition, it is important to note that many of these individuals have built an incredibly passionate following that’s not random.

The audience doesn’t care about your brand. They only pay attention to the opinions of your influencers. You should never try to impose business rules and procedures on your influencers. Instead, let them make their own decisions.

The Benefits of Influencer Marketing

The rise in searches for “influencer marketing” has become significant

Since 2016, the number of searches for “influencer marketing” has increased significantly on Google. This has led to many people wanting to learn more about this topic and find various digital marketing agencies and platforms that specialize in this type of marketing. 

Between 2016 and 2019, the period saw a 1500% spike in searches for this term. However, since then, the searches have started to slow down.

The global influencer marketing market is expected to reach $16.4 billion in the upcoming years. 

The rapid growth of the influencer marketing market was attributed to the coronavirus pandemic in 2020. In the upcoming years, the market is expected to reach a value of $16.4 billion.

The number of agencies and platforms focused on influencer marketing doubles. 

Due to the increasing popularity of influencer marketing, many companies are now setting up platforms that help them find and select the ideal influencers. 

These platforms make the process easier for both the influencers and the brands. There are also a few digital marketing agencies that specialize in this field.

Moreover, several traditional agencies have started offering influencer marketing services to retain their clients. Over 240 new platforms and digital marketing agencies specialized in this type of marketing during the past 12 months, more than the 380 that did so in the prior year.

Conclusion

Before you start a campaign, you must clearly understand what you want from an influencer. After reading this article, you have already made the necessary preparations, and now it is time to find someone who genuinely wants to help you reach your goals. 

You can find an influencer through social media or partner with a company. Furthermore, an influencer platform can help you monitor and manage your efforts. Or, opt for the traditional way, working with a reliable digital marketing agency.