Why is influencer marketing the new trend in the digital marketing world?
Various brands have been using influencers to advocate for their products to their target audience. This technique has given them high returns and value for money.
In this smartphone age, people are quick to look up online and on social media, before making a purchase decision. What information are they looking for? They probably want an assurance that they’re choosing the right product or service for themselves.
Influencers play a major role in the buying funnel of consumers. When you see an authoritative person or your favourite celebrity advocating for a particular brand, you automatically tend to develop an affinity towards that brand.
Marketers have begun to realise the importance of this form of marketing, and are increasing their influencer marketing budgets every year. According to a survey, 39% of marketers will increase their budgets for influencer marketing in 2018. Influencer marketing is predicted to grow from 32% penetration to 47% by the year 2020.
Though this still seems to be a new technique for many marketers, it is growing at a significant rate, and is here to stay for the foreseeable future. Take a look at this infographic by Market Inspector, and understand how you can use influencer marketing in your business.
Infographic by Market Inspector