In the initial years of social media, online ads served as a major channel for brands to showcase and market their products and services. With the increasing use of the internet, customers expect online ads to be seamless. However, 79% of customers feel that they are being tracked because of retargeted ads, and many others find sudden ad pop-ups pushy, thus choosing to block traditional ads from their devices. This creates a trust gap between brands and customers who now want information only from trustworthy sources. This has led to brands turning to influencer marketing to help grow their presence in the market. 

Social media influencers have thus taken over and are now perceived as brand ambassadors. But who are these influencers, and what do they bring to the table? How can brands today leverage the clout of social media influencers, and what software solutions can they use to achieve the same? 

Are influencers the next big thing?

Influencers are subject matter experts from a niche industry, such as fashion, lifestyle, business, travel, and so on. People follow them on social media for their insights on the industry, although they may not necessarily be big names in the market. Influencers’ authentic reviews of products help build trust among their followers and thus educate them to make the right purchase decisions. According to a report, 49% of consumers depend on recommendations by influencers.

Brands have observed the shift in the way consumers now use social media and have started focusing on their influencer marketing budget. But it is a time-consuming process to search for an influencer who fits the bill. This has led to the rise of influencer marketing platforms, a software that caters to both the brand’s and the influencer’s requirements.    

Influencer marketing is gaining popularity

Social media has generated an explosive volume of content online. It is challenging for users to find and filter topics that they find interesting. This information overload has given rise to increased content curation by social media influencers. The rise in the number of information seekers has paved the way for the rise in the number of subject matter experts on the internet. These influencers have carved a niche for themselves in specific topics which consumers are interested in and have thus built a community. 

Influencers hold live discussions on social media platforms, create quality content, and are transparent with their followers, leading to increased loyalty among them. Similarly, it is essential that brands treat influencers as their customers when pitching their products and services. The more the influencers understand the brand voice, the better will they be able to convey it to their followers.

A report from Deloitte Digital highlights the profitable return on investment generated from influencer marketing campaigns. With the use of digital marketing, brands definitely saw a rise in returns. However, when they switched to influencer marketing specifically, the returns were much higher than other marketing tactics.

Image Source: Deloitte Digital

The aim of any brand is to reach every potential customer from their target group—possible only when the brands are perceived as authentic. Historically, brands gained popularity by word of mouth. In today’s world, influencer marketing platforms do just that but with the help of technology.

Influencer marketing platforms help brands find the best fit

The “one size fits all” approach does not work when it comes to influencer marketing. Brands must shortlist and select their influencer carefully, and evaluate if they are the right fit before planning an ad campaign and building its strategy. Companies must look at the influencer’s follower profile and determine if the pool has its target customers or not.

Brands should also not select an influencer solely on the basis of their number of followers or their popularity. An influencer with the most number of followers need not necessarily resonate with the brand image and brand voice. 

Most brands deploy influencers at the last stage of pre-executing the campaign. However, it is important to involve them in every stage of the strategy because they understand their followers better. 

Influencer marketing platforms help brands find suitable influencers in one place. The features of these platforms help in evaluating the influencers by segmenting them on the basis of their previous work on campaigns. These platforms also help with content analytics and other such features to finalize the type of influencers they want to shortlist.

Reviewers on G2 find influencer marketing platforms helpful

The influencers and the brands, both find it easier to use influencer marketing platforms. On G2, reviewers praise the platforms’ ease of use by highlighting features such as search, customer service, and regular software updates that make their influencer marketing efforts efficient and organized. 

Source: Reviews for Influencer Marketing Platforms on G2

What’s next in influencer marketing?

Given the popularity of influencer marketing, we may expect guidelines for social media marketing from the Federal Trade Commission (FTC). The current guidelines mandate influencers to inform their followers when they are paid for posting marketing messages. They are expected to be honest with their followers about the brands they have partnered with. 

With new technologies emerging every day, it is fascinating to see what the future holds for influencer marketing. 

Augmented reality (AR) will gradually transform influencer marketing. Interactive ads have started to take the place of regular online ads. For example, if a fashion influencer wants to promote a clothing line, they would not require to own a piece of clothing for a photoshoot. With AR, they will have access to contactless clothing, to give customers an idea of what the final product may look like.

Increased focus on diversity and inclusion may also lead brands to partner with influencers of different personas. 

Influencer marketing is thus, gaining ground. That said, we can also expect to see brands amping up their marketing efforts by merging content marketing, influencer marketing, and social media marketing in the days to come.