Why is Influencer Marketing Important in 2021
Influencer marketing has left behind almost all other marketing mediums when it comes to higher budget allocations by brands, and for good reason. The implied marketing through the power of influencers helps brands promote their products to a wider audience without spending any extra money on marketing. This gives a level playing field for brands to compete in a specific niche.
In fact, it would be safe to say that every brand’s prospective customer has an online presence. Mostly, what matters to the brands is their target audience’s presence on social media.
Why does influencer marketing work?
Influencer marketing can make a pauper a prince. There are numerous examples where the smart use of influencer marketing has helped startup brands give established brands a run for their money.
Let’s see how influencer marketing works in 2021.
It helps generate brand awareness
Did anyone know about smartphone brands like Xiaomi, OnePlus, and Vivo a few years ago? These brands used the power of influencer marketing to generate interest and awareness of their brand. They hired influencers of all hues to help them market the brand across their target audience worldwide. The result- their newly-launched phones sold out within seconds.
It attracts engagement
Influencer marketing encourages people to interact with the brand indirectly via the influencer. They can comment, like, and share the sponsored content, indicating their eagerness to buy. The likes, shares, and comments on each sponsored post help brands know how well their product is being received by the target audience.
Better value for money
People have moved past paid adverts in print media and TV. Ads here do not make sense anymore. With influencer marketing, however, brands can spend the same money on influencers and get way more returns than paid print ads could ever get.
Helps increase trust
When buying a smartphone, would you buy from an unknown brand or a well-known brand? But if you have seen product reviews online from your favorite influencers, you may buy a smartphone from an unknown brand, right? This depends on various other factors, primarily if the phone’s specifications meet yours. You trust the influencer that’s why you would buy a phone that he suggests. This is how the likes of OnePlus, Xiaomi and others have leveraged influencer marketing to skyrocket their sales numbers.
Latest Trends in Influencer Marketing
People prefer a personal touch when it comes to knowing a product better. This means reviews and recommendations work way better than just explaining the product to random people. When a known influencer demonstrates the use of the product along with its unbiased reviews, people trust him and make purchase decisions accordingly.
These days, influencers are posting content that matches the requirements of their followers. Content is not being made just according to their Instagram theme, but according to what interests people. After all, the influencer has targets to achieve, he has to get the most engagement to get maximum conversions for the company.
For many brands, influencer marketing is not a one-off thing. To sustain the sales numbers, many brands enter into long-term partnerships with influencers. This is usually three months or longer. Brands use influencers to promote various products during this time. This also helps brands ensure that the influencer does not promote the competitor’s products and that his followers, too, remain loyal to the brand.
To keep content fresh and unbiased, many influencers are resorting to using live broadcasts or unedited photos. This keeps the content real and helps the influencer earn more trust and credibility. For this, influencers are using the Reel feature to post spontaneous content. Influencers are live-streaming their product reviews to keep things real.
To protect both the influencer’s, brand’s, and customer’s interests, governments across the world have started to regulate the influencer marketing industry. There are chances of fraud from all sources, and the risk of unethical or promotion of banned products have to be restricted. That is why advertisement regulators have norms to be followed for each influencer, influencer advertising platform, and brand.
Summing it up
Influencer marketing is an efficient, cost-effective, and easy way to reach the target audience. No wonder why brands of all hues are using it to reach their marketing goals. In 2021, due to intense competition, brands are going for long-term influencer contracts. In the future, influencer marketing’s importance will be even higher, and traditional marketing mediums are slowly becoming obsolete.