How influencer marketing helps brands to catapult their digital growth
To stand out in this social noise, companies are increasingly leveraging the sway social media influencers hold over their audience. Given the dwindling trust of consumers in brands and growing loyalty toward influencers, brands are joining hands with influencers to reach out to their customers and impact their purchasing decision. Brands like Daniel Wellington, Adidas and Zara have turned influencer marketing to their advantage and witnessed extreme digital growth.
With thousands of brands jumping on the influencer marketing bandwagon, the industry has soared from $1.7 billion in 2016 to $13.8 billion in 2021. An insatiable thirst for social media content, the growing popularity of short video formats and the rise of social and commerce platforms are forecasted to expand influencer marketing to a $16.4 billion industry. As marketers continue to see the value influencers can add to their marketing strategy, more brands are expected to run influencer marketing campaigns. In this increasingly digital-first world, brands can deploy a powerful influencer marketing strategy to catapult their digital growth.
AI to find the right influencers
With an influx of technological innovations, brands are integrating Artificial Intelligence (AI) in their influencer marketing campaigns to strengthen their collaborations with the influencers and generate maximum returns. By harnessing the power of AI, brands can identify the right influencers for their campaign from scores of influencers and invite them to partner with them. To drive the success of their marketing campaigns, brands must pick the right influencers belonging to the right niche and possessing the right skills to maximise their returns.
Tech-led influencer marketing
Many brands hesitate from running influencer marketing campaigns due to a lack of the right resources and technology. But several influencer marketing platforms are streamlining brand campaigns by bringing together influencers and brands on the same platform. As a result, the interaction between brands and multiple influencers becomes effortless and the hiring velocity also accelerates. Additionally, these platforms allow brands to measure the performance of the influencers and gain insights into traffic and conversion rates, thereby optimising their performance.
Capitalising on the popularity of video formats
In the past few years, video formats have gained enormous popularity among users. Especially since the inception of Instagram Reels and YouTube Shorts, video formats have witnessed a spike in user engagement. Since these short video formats are more engaging and eye-catching than static content, influencers and brands are leveraging them to drive participation among their audience. Additionally, such formats allow more space to take creative liberty and convey as much information and content as possible. Brands can drive their digital growth by partnering with influencers popular among these formats.
Expanding geographical footprint
In this increasingly global and connected world, brands must strive to communicate with their audience and win their loyalty. Influencer marketing allows brands to reach out to a wide, global audience through social media influencers with their worldwide following. Consequently, brands can create an instant connection with their consumers and attract new customers as well. Influencer marketing is an economical way of acquiring new customers globally without having to set up shop across new markets.
Keeping up with a constantly evolving landscape
The marketing industry is constantly shifting and has come a long way from ad-based models to influencer marketing. Influencer marketing platforms are continuously reforming and reorganising the marketing landscape. To stay competitive and relevant in an ever-changing market, brands must partner with influencer marketing platforms to propel their digital success. Through influencer marketing, brands can inspire trust among the influencers, marketers and ultimately, the consumers. As the tide turns, brands should adopt a more streamlined, scalable, transparent and measurable process.
Wrapping Up
Over the years, influencer marketing has become a powerful marketing tactic sworn by leading brands and businesses. But influencer marketing is only effective when done right. With the right technologies, influencers and platforms, brands can unlock their true potential and propel their digital growth. Companies that leverage influencer marketing effectively are more likely to grow and form long-lasting relationships with their influencers and consumers.
About the author:
Ishan Jindal, Founder & CEO of Wobb