Influencer marketing is a big deal that’s about to get bigger.
Influencer marketing focuses on utilizing authority figures in a given industry industry to increase a brand, product or service’s visibility and esteem. This can include anything from straight forward endorsements to an industry leader tweeting out a piece of content marketing. This type of marketing is underutilized, but we may well end up looking back on 2017 as the year that all changed.
Brands Plan on Increasing Influencer Marketing
Maybe the best piece of evidence that 2017 is the year of influencer marketing is that more brands plan on using it. In fact, a full 65 percent of companies polled stated that they plan on increasing their influencer marketing budgets this year.
That’s because influencer marketing can involve much more than just hoping the right people see an article. Many industry influencers are willing to post content for a fee as long as it’s within their industry and quality-focused. Brands have realized the power of influencer marketing, and the smart ones are stepping up their game. Here’s how:
More Industry Leaders on the Bandwagon
Call it the “virtuous cycle.” As more companies began focusing on influencer marketing, more influencers started taking part in turn. Industry leaders ranging from Bill Nye the Science Guy to Kim Kardashian heavily use their profiles to post monetized links from other brands. The simple fact is that more influencers are now ready to help companies build their brands, and this creates the “perfect storm” for organizations looking to increase their reach.
Realization That Content Marketing Can Falter
Local business owners didn’t just wake up one day with an epiphany that influencer marketing was the way to go. They came to it out of necessity. Even though 78 percent of companies put out more content over the last couple of years, there has been a 60 percent decrease in engagement.
Obviously, they needed to find a way to get more of their customers and prospects engaged. In a marketplace where 9 out of 10 consumers trust individuals, including industry leaders, over brands, making use of influencers becomes a no-brainer. If an industry leader sends out a piece of content, consumers are more likely to attend to and, ultimately, trust it.
Influencer marketing may seem relatively new, but it’s an age-old tactic that brands have always utilized. What has changed is that technology has put influencer marketing on steroids, allowing organizations to reach more consumers than ever before.
There’s little doubt 2017 will be the year of influencer marketing, so make sure your organization doesn’t miss out. And if you need help in building your influencer marketing strategy, don’t hesitate to contact us at Eddie@ReevesStrategyGroup.com.