If you have ever planned a digital marketing strategy for your brand, you have certainly spared a thought on digital influencers marketing. Whether you went through with the idea or are still mulling over it, you may still question its reliability in increasing your business performance. After all, while we should follow trends, our business’ health comes first.
According to Business Insider’s Influencer Marketing 2020 report, by 2022 the digital influencers’ industry is predicted to be worth around 15 billion dollars. Consequently, this will represent a 7 billion dollar increase from 2019. Therefore, what these numbers tell us is that the way people make purchasing decisions is shifting.
As social media grow in popularity more people are finding opinion leaders in these platforms. Hence, the advertising market is also shifting to follow this consumption trend.
It is safe to say that digital influencers can be found on any social media site. Some, more popular than others, but at the end of the day what is really important is the engagement in those platforms.
Instagram remains the most popular platform for influencers, with Facebook and Twitter coming up as second and third. However, as marketers, we should keep an eye out for Tik Tok and Twitch because these platforms are growing in popularity every year for their massive following among teenagers and young adults.
Who can be classified as a Digital Influencer?
There is a running confusion on labeling celebrities as digital influencers. The answer to this is: It depends. Thus, we start this topic by distinguishing them because they may not be the same person.
Not all celebrities are digital or social media influencers. The reason for this is because the job of a digital influencer is to engage with their audience on a social media space as content creators. Accordingly, these individuals dedicate hours of their day planning, creating, producing photo and video content for their audience. For many celebrities, this requires time in their schedule that they do not have due to their priority as actors or singers. Nonetheless, there are celebrities who started out in TV and are extremely successful on social networking sites as influencers such as Kim Kardashian or Selena Gomez. Progressively, more celebrities are entering the social media influencer spectrum in order to stay relevant.
What makes digital influencers so interesting is that there is no one box that fits all. They can come in many forms, shapes, and sizes of followers. There are many types of influencers and with each passing day, one more niche is uncovered. Moreover, they can be closer than you think. For example, your co-worker may be sharing relevant industry insights on LinkedIn and have earned a great number of loyal followers. On the other hand, the mother of three next door might have an Instagram account where she shares recipes and home organization tips.
While the size of their following matter, what is important is their impact on their niche. Depending on your business strategy and who exactly you want to target, going for ten micros might be better than going for one macro.
How do you classify macro vs micro-influencers?
In an interview for the Mckinsey’s podcast “Discussions in Digital”, Katie Freiberg, head of growth marketing at ThirdLove, classified micro-influencers as individuals having between 1,500 to 5,000 followers, around 100,000 followers they are medium, and over 500,000 they are considered macro.
Micro-influencers are becoming increasingly popular among marketers due to their high engagement rate. Influencers below 5,000 followers have an average of 5.3% of engagement when comparing to above 100,000 followers which gather 1.1% of engagement. Because the investment is lower, some brands prefer to bet on more micro-influencers to multiply the impact. Anyhow, this is not a definitive recipe for success since it will depend on your market and the careful choice of influencers.
Why is working with digital influencers so popular?
To answer this question, we must look at how people consume nowadays. Around 46% of interviewees of a global study are social media users that follow influencers for product recommendations. Moreover, in the same study, it was revealed that 74% of consumers would spend up to 629$ on items recommended by their favorite influencers.
These individuals have a massive impact on a group of people because they find them relatable. While many celebrities endorse a brand on a high budget production, influencers are required to analyze and give an opinionated endorsement. Thus, they are more pressured because it is also part of their content, and their followers are on watch.
Luxury Brand Fendi vs rising Tik Tok star Wisdom Kaye
Wisdom Kaye is undoubtedly one of the most popular fashion Tik Tokers. His instant rise in popularity earned him an impressive 4.6 million followers on the platform. Fendi, an Italian luxury fashion brand, sponsored Kaye with a human-sized box of clothes and accessories. Kaye created different fashion looks based on their products and posted a video. This single video gathered 3.3 million views and over 969k likes.
Fitness brand Fabletics vs Instagram Micro-influencers
Fabletics partnered with dozens of micro-influencers on Instagram for their #KickButtLookCute campaign which gathered thousands of likes throughout the different accounts. With these micro-influencers, they were able to reach the brand’s target audience in a more personal and relatable way.
To work with influencers, your brand must have a clear influencer marketing campaign in the overall business marketing plan. This a very good opportunity to gain brand awareness and improve sales. However, if not planned carefully this partnership might either make or break your brand. This to say that you must carefully choose the influencers that better match your brand’s image and ideal. At Link37 we create social media campaigns that aim to improve your standing on any platform. After an in-depth analysis, we will determine which social media strategies are the best for your brand and if, in need of a digital influencer, we will carry out that research and contact them for you. Book a meeting with us to learn more.