Why is Influencer Marketing the hottest topic on every Marketer’s mind
…and why content creators should take note too
Unless someone has been living under a rock for the past decade, it will be quite difficult to find a person who does not know about influencer marketing services in today’s world.
The increasing digitisation along with the proliferation of low-cost internet connectivity and mobile devices globally meant that people from all walks of life across the world were connected like never before. And with social media apps able to create a digital environment where you could create, view, and share your favourite content, the new-age influencer came to be.
Today’s Influencers are able to monetise social media following through their platforms of choice, which are rewarding more engagement of users. But more importantly, they came to have a growing influence over the buying decisions of their audience. Hence, influencer marketing strategy gradually found its way into every brand marketer’s agenda.
Let’s share some figures to help you grasp the reach of influencer marketing today:
- Google searches for “influencer marketing” increased 465% since 2016 — has become mainstream today
- The number of influencer marketing agencies and platforms rose to 1360 in the past 5 years itself
- Brands marketers are increasingly searching for the best influencer marketing mix, with the strategy yielding $5.78 ROI for every $1 spent
- 75% of respondents to a survey said they’re dedicating a budget towards influencer marketing strategy in 2021; much higher than the rate of 37% five years ago
- Instagram is by far the most popular platform with 1.074 billion active users — 95 million photos & videos are submitted daily, along with more than 4.2 billion likes from the IG community
The above numbers are set to grow even further, with more and more people joining the creator ecosystem. And with the declining effectiveness of celebrity endorsement in the current popular demographic, influencer marketing services are set to take centre stage in the marketing strategy of brands and marketers alike.
YouTube is just one of the many globally popular social media platforms which are paving the way for creators to monetise their passions. A recent report showcased the vastness of the creative environment present there for Indian creators, with the video-sharing platform adding ₹6,800 Crs to the Indian economy and a whopping 6,83,900 jobs being supported.
People have taken notice of the opportunities, as is clear from the 45% increase in the number of channels with a subscriber base of more than 1,00,000. From passion economy to creator economy, more and more people are realising the value of their influence from the digital marketer’s perspective.
Mansi Gupta aka Magsplay is one of the rising stars in the Indian gaming creator base. Her 6,24,000 subscribers on YouTube and more than 1 lakh Instagram followers reflect the years of learning, creativity, and hard work that she puts into her content regularly.
From idea to execution with hours and hours of careful editing, her childhood love is now able to give her a wonderful foundation. Her plans for the future are already decided — higher quality entertainment videos with a business venture on YouTube already in the pipeline.
She ticked all the right boxes, adapted to the latest gaming trends and brought the unique irreverence that sets her apart from the crowd. And marketers follow the followers — the fastest way to engage their audience. People don’t care about any businesses, but they are ready to give them a try if their favourite content creators like their products and endorse the brand’s name.
As platforms continue to give more avenues to attract and retain creators, advertisers are moving towards a sharper influencer marketing strategy in 2022 and execution with the right brand advocates. The target demographic has completely changed in the last decade and they’re having to reshape their messaging the same way.
And as long as creators pursue their passions and find growth in the digital realm, they’ll be able to carve out their niche audience and find their tribe. With the current context stimulating the march towards creator economy, there has never been a better time to pick up your mic, or set the camera and lighting just right.
You never know — maybe the creator inside you is just waiting to bloom.