Influencer marketing has been on the rise, and rightfully so. In 2022, the influencer market in the U.S. was valued at a record 16.4 billion. It’s estimated that this trend will continue in an upwards direction, with the entire marketing landscape being dominated by influencers and their ability to drive sales and brand interactions. So how can marketers leverage influencers in order to successfully reach their goals?
Influencer Marketing In 2023
Influencer marketing will continue to evolve as the content, channels, and strategies continue to expand. With this, it is essential that brands understand what influencer marketing is, and how they can use it to leverage their success. Learn more about this marketing trend that will help you expand your reach and grow your business.
What Is Influencer Marketing?
Influencer marketing is a form of social media marketing that involves a brand collaborating with individuals with larger audiences or niche content with the intention of elevating brand awareness or increasing sales. The trust that social influencers have built up with their following allows them to recommend products and services from a place of authority. These influencers’ audiences, or in this case, potential customers, value the opinions of these influencers and are more inclined to purchase based on what they’ve heard from trusted individuals.
What Types Of Influencers Are There?
Different brands have different needs, and luckily, there are several different options when it comes to influencer marketing. Creating a successful campaign starts with identifying the best types of influencers that can help deliver results. There are five different types of influencers you can choose from:
- Nano-influencers: 1k to 10k followers
- Micro-influencers: 10k to 50k followers
- Mid-tier influencers: 50k to 500k followers
- Macro-influencers: 500k to 1 million followers
- Mega-influencers: More than 1 million followers
You may assume that the more followers an influencer has, the better, but this is not always the case. Those with smaller audiences are often looked at as “experts” in their niches— think of the health and fitness community. These individuals also often foster a more intimate relationship with their followers. Macro and mega influencers have higher followers but may have lower engagement rates and are more likely to increase brand awareness than elevate sales.
How Do I Engage My Audience?
Influencer marketing is not a one-fits-all solution. For example, you’re not going to have a young child-less tik toker sell products to the mommy blogger community. There are different types of influencer strategies depending on the goals of your brand or service. It is important to do the necessary research in order to find the right influencers to work with— does this influencer already post about things similar to your brand? Does it appear they have authority within their niche community? Once you decide on the type of influencer you want and answer the necessary questions regarding your goals, you are on track to create a specific, measurable, and achievable campaign.
What Are The Benefits Of Influencer Marketing?
The benefits of influencer marketing are extensive, especially if you take your time and research the best types of influencers to elevate your brand. The advantages of the creator economy include
- A high return on investment (ROI)
- Help establish social proof, build awareness, and gain credibility
- Establish long-term relationships
- Improve your search engine optimization (SEO)
- Target niche communities and specific psychographics/ demographics
All in all, working with influencers can provide long-term benefits that continue well after your campaign is done. Now that you know the basics of influencer marketing in 2023, are you ready to reap all the benefits?
Influencer marketing is a cost-effective way to reach larger, niche audiences. Here at TargetMarket, we are passionate about unearthing our clients’ goals and motivations so that we can create comprehensive digital marketing strategies that make an impact. We work with you on creating memorable content, recognizable personality, and gripping marketing collateral. Get in touch today to discuss how we can help you grow your business through our comprehensive marketing solutions.