What is Influencer Marketing – Basics & Benefits

Influencer marketing as a concept is something that engages the audience as well as influences them at the same time! As a result, it has been emerging from its unappreciated shell swiftly. Additionally, it has emerged as a key tactic that will influence the market, influencing how companies use influencer marketing to tell their stories and establish their positions in the market, as well as how creators view the creation of content. This has also led users to monitor influencer activity fairly closely; according to a US researcher, 70% of people have been found to follow up to 10 influencers.

Let’s take a deep dive into the crux of influencer marketing and its effect on brands.

What is Influencer Marketing?

As it was becoming harder for brands to maintain a genuine brand-consumer connection through celebrity endorsements, which were still popular & successful in a conventional way but couldn’t manage to showcase expertise. Thus, the spotlight shifted to individuals providing real value to an audience by sharing authentic content and trustworthy reviews on a product. Today we know them as influencers.

Influencer marketing is thus defined as marketing that makes use of these influencers’ strong brand values. The audience of these content creators is not concerned with the number of the audience; rather, they are interested in their competence in a certain sector, which is another noteworthy aspect of influencer marketing. Users today are mainly devoted to mid-tier or micro-influencers, those with 50K to 500K followers. Once more, this user behavior shows that the audience values relatability and authentic content more than follower numbers.

If we take a much broader look at the “influencer – brand – influencer marketing” spectrum, influencer marketing not only assists in achieving goals by subtly fostering trust, but also assists in modifying how individuals and businesses approach increasing their social media presence, and influencer marketing platforms play a significant role in this.

Why Brands Should Leverage Influencer Marketing?

If used properly, influencer marketing might turn out to be a gold mine for brands. Platforms for influencer marketing enter the picture in this situation. A leading influencer marketing platform, such as Grynow Media, makes sure that brands work with relevant, verified influencers that support their content strategy and brand awareness initiatives.

Let’s talk about why and how brands should utilize influencer benefits and what outcomes they can get by investing in this.

Content Creators Positively Influence Buyer Behavior

Influencer marketing mediates brand adoration and loyalty by influencing consumers’ intentions to make online purchases. Additionally, the majority of online users exhibit a propensity to buy goods that influencers advertise in their content, with reviews being the most popular sort of material. As long as it is authentic, audience members value influencer-generated content highly.

Influencer Marketing Pushes Brands to Follow Due to Technological Advancements

With the advent of new social platforms and technologies like Clubhouse and Metaverse, brands are left with little to no choice but to follow trends and technological advancements. As a result, the audience is keener to corroborate with such brands and they have been noted to gain a greater number of Sales Qualified Leads and high-quality customers from influencer marketing campaigns.

Influencer Marketing is Digging More Opportunities for Social Commerce

It is undeniable that the social commerce landscape is quickly shifting & evolving, and influencer marketing is the key to leveraging it for good. Influencer marketing platforms like Grynow are helping social commerce brands move fast through this change by collaborating with the right influencers, allowing them to capture a larger share in the market sooner.

Influencer Marketing Platforms – Best Practices

The key factor in all successful influencer campaigns is the ‘on-the-go optimization’ strategy. Brands and influencer marketing platforms monitor the progress & performance of a campaign collaboratively and closely to understand what is working and what is not.

Here are a few common influencer marketing best practices followed by top influencer agencies:

• Tracking performance of every single content piece produced for the campaign and revamping what is not producing results.
• Monitoring activity on each platform involved in the campaign and leveraging the best-performing platform for better results.
• Creating unique UTM links for each creator involved to understand individual contributions towards the success of the campaign.
• Continue partnership with top-performing influencers for future projects/campaigns.

Conclusion

Platforms for influencer marketing are assisting brands in maximizing the return on investment of influencer initiatives. Influencer marketing has gained popularity among brands since it requires less money and can produce greater results. The only thing left to do is observe how inventive companies and producers can be since they are already utilizing the greatest of content creators’ authority.