Importance Of Influencer Marketing In 2024

Importance Of Influencer Marketing In 2023

How often do you come across your influencer doing promotional advertising for a new brand? How often do you check out what your favorite influencer is wearing? Nowadays, influencer marketing is becoming a top trend in online marketing. Many marketers are now going for influencer marketing as it has shown some great results for businesses. Yet, some people still don’t know what is the concept of influencer marketing. In this blog, we will share what is influencer marketing and how can it be beneficial for you in 2024.

Get To Know About Influencer Marketing

Influencer marketing is when any individual with a huge following generates content related to one brand and promotes it on their own channel. Every influencer has a dedicated fan base with a specific target audience where their audience follows them for certain niche-related content. When a brand collaborates with online influencers about their products so the influencers market one of its services. Alot of influencers are trusted hence whatever they post about, will for sure get likes, comments, and purchases. 61% of the users trust the influencer’s recommendations. The influencers recommend a product or a service to their followers which results positively for businesses where they expand the reach of their brands. 

Are Celebrity Influencers and Social Media Influencers the Same?

Celebrities are famous because of their art, music, movies, or serials. Their fan following follows them mainly because of their work whereas, with online influencers, their followers are based on just a specific niche and online influencers can be anywhere. This is why, whenever an online influencer, which can be anyone market a certain product, it may align with the customers which will increase ROI. If a celebrity endorses something that is also likely to gain more recognition for a brand. For instance, in 2019, BTS member Jungkook mentioned in a live chat that his fabric softener is from Downy, and within a few minutes, fans bought the fabric and it caused a shortage in South Korea. This ended up with BTS collaborating with Downy which too was sold out immediately. Online influencers are more likely to be associated with the product which is why they have a solid reason to promote it. Celebrities have a following of millions meanwhile online influencers may have 20,000 yet their audience will be organic as they followed them because of their authenticity and reputation to be experts in that specific niche.

Is Influencer Marketing Really Important?

Do you know in 2022, influencer marketing is grown to $16.4 billion and now businesses are generating $5.2 ROI for every $1 spent on influencer marketing? The studies have shown significant changes in revenue generation because of influencer marketing. Another important reason why it is important is that it lets your brand reach more and more audiences and it increases your brand recognition too. On Instagram, 67% of the brands use Instagram for influencer marketing. 

How To Start Influencer Marketing In 2024

If you want to kick-start your career with maximum revenue, you need to make the most out of influencer marketing. We are sharing some useful tips you can follow with the help of influencer marketing. 

Develop Your Goal

For starters, you need to define a goal for your brand and then you can start your influencer marketing strategy. Define your goals, what type of customers you are looking for, their age, their location, and other essential details. Check if you need to look for new customers or if you want to reach out to old customers. 

Research First 

Research your influencer first. The first thing you need to do is research which influencer you need. Check around your network, and goals and see what type of influencer suits you the most. Check out if your influencer is posting about the same kind of service. If you have a new lipstick collection coming out, then you need to find an influencer that regularly posts about cosmetics. 

Define Your Budget

Another tip we have for you is to define your budget. You would need to pay your influencer so make sure you develop a budget and then run a campaign accordingly. Alot of things are considered with alot of steps where you need to monitor every little detail about it. 

It’s All About Reels

Nowadays, everyone is making abundant content for TikTok and Instagram Reels, which is why you also need to generate content for TikTok and Instagram Reels. Make sure your influencer is making content that is in video form. 39% of users prefer to buy products through TikTok which is compared to 22% for Instagram and 9% for Facebook influencer posts. 

Co-create Products With Influencers

Many brands have dedicated brand ambassadors, and they have officially launched new products with them. It is another great tip for your business as the hype of the new products will be not just limited to your audience but will also be presented to your influencers’ audience. 

In conclusion, influencer marketing is changing the game for every business and generating more and more revenue. 

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