It’s impossible to miss the rise of influencer marketing in the past few years. As social media platforms have become an integral part of our lives, celebrities and influencers have found the perfect platform to make their millions.
A high-profile celebrity holding the latest fashionable lip gloss in their hands can make tens of thousands of dollars from a single post.
But what does this rise in social influencer marketing mean for the average business owner? Is it an intelligent way to promote a business? What are the pros and cons? We reveal it all here.
What Is Influencer Marketing?
Influencer marketing is a way of promoting products and services online.
An influencer is someone with a vast social media following. Traditionally a high-profile celebrity, but more recently, anyone with tens of thousands of followers can be considered an influencer.
A business pays an influencer a fee to promote a product or service to their audience. This transaction can be a long-term partnership or a one-off payment for a single promotion.
Influencer Marketing: The Pros
Influencer marketing can be a potent way of promoting an online business. Here are some of the main pros:
- It’s the perfect way to connect with your target market, but spending your marketing money on influencers who are relevant to your niche
- It helps bring some credibility to your brand by using recommendations from respected influencers
- It offers the potential to grow your small business rapidly because influencer posts can go viral
When you look at the positives, it’s clear to see why influencer marketing is so popular with businesses. It is estimated that the influencer market will be worth around $14Bn by 2021.
Influencer Marketing: The Cons
Despite the plus points, there are some downsides to influencer marketing. Here are some cons to bear in mind.
- Not all influencers are worth the money, and if you work with an influencer for the first time, you aren’t guaranteed a return on your money from the promotion
- It takes time to find reputable influencers to market your product, and sadly there are influencers with fake social media followers
Downsides don’t necessarily mean social influencer marketing is ineffective. But they are factors to consider before embarking on your first promotional campaign.
The Best Social Influencer Marketing Strategy
The most effective way to use influencer marketing is to do your research. Take the time to discover the best influencers in your niche, and use a reputable platform to find an influencer who perfectly matches your needs.
You should also look at which platform is best for connecting with your target marketing. The two most prominent platforms for influencer marketing are Instagram and TikTok.
Instagram influencer marketing is the most established marketing method. Prominent influencers with strong followers can potentially bring you hundreds of new customers.
TikTok is newer and growing rapidly. If you use TikTok influencer marketing, the audience tends to be younger. This fact is something to keep in mind when considering your target market.
No Time to Lose
Social influencer marketing is currently one of the hottest marketing methods around. If you are looking to grow your business, use influencer marketing in 2021. It is still proving to be highly profitable.
Have you used influencers to grow your brand? Tell us about your experience in the comments section below.