Influencer marketing is one of the biggest breakthroughs in marketing and it brought new opportunities for both aspiring influencers and businesses.
Influencer Marketing Services
COVID-19 turned 2020 into a year of joblessness - but many people who lost their jobs found new hope through social media opportunities.
One of the latest developments in the industry is the emergence of influencer marketing services that provides opportunities for both business owners and influencers in various social media websites.
An example is AnyTag by Singapore company AnyMind. Through AnyTag, business owners can search for influencers of all ages, genders and number of followers.
While some companies have capitalized on influencers who have millions of followers, AnyTag provides new influencers with a chance to be employed. AnyTag has held social media contests to find potential influencers and provides winners with the tools they need to improve their marketing brand.
Everyday Influencers
Similar to the concept of AnyTag some companies have ventured into collaborating with "everyday influencers." Unlike celebrities and Instagram influencers who demand bigger pay, everyday influencers can save on marketing costs.
Everyday influencers are real people who do not have millions of followers but are always active on their social media pages and they often have a solid, albeit small group of supporters and followers.
Some companies that work with everyday influencers are focused on growing the fan base instead of profiting early on.
Influencer Value Further in Six Years
While previous reports have projected growth for the influencer marketing industry in the coming years, market research company The Insight Partners predicted the sector will expand by 13.4% by 2027.
The market was valued at $148.04 million in 2019 and is expected to exceed $337 million within the next six years.
The Insight Partners said in a report that the market will be driven largely by social media websites further opening new programs that will allow companies to capitalize on influencers.
Fake Influencers
While there have been many positives there have also been pain points such as the rise of fake influencers.
There have been reports of fraudulent influencer accounts that could result in losses instead of profits, especially if these accounts become a source of scandal.
Public relations is significant for companies looking to establish a strong customer base. With fake influencers linked to growing businesses, the consequences can be serious.
Experts recommend checking the accounts of potential influencers shortlisted for campaigns. True influencers display steady growth in followership instead of a sudden rise in the number of followers.
Authentic Reviews
Finally, authenticity has become the biggest topic - especially as more people spent time browsing the internet during the pandemic.
Consumers have become more aware and informed about sponsored posts and are demanding authentic reviews from influencers who actually use products.
The biggest breakthrough was found in the amount of time brands and marketers spent on building influencer-brand relationships as a means of making more authentic connections with target audiences.
