With the growing use of social media worldwide the industry of social media influencer has also emerged significantly.
According to Statista – Ad spending is expected to show an annual growth rate (CAGR 2023-2028) of 11.06%, resulting in a projected market volume of US$52.05bn by 2028.
In this competitive digital era, influencer marketing should be one of the major strategies a brands must have to market their products. Here are few reasons why –
Trust: People trust influencers, so when they talk about a brand, it becomes more trustworthy.
More People Know: Working with influencers helps a brand reach new and different groups of people.
Real and Relatable: Influencers are real and speak like regular people, making their promotions feel genuine and relatable.
Targeted Advertising: Influencers have specific audiences, so brands can pick the right ones to reach their desired customers.
More Interaction: Influencers create interesting content that gets people talking and engaging with the brand.
Saves Money: Influencer marketing can be cheaper than traditional ads, especially when working with smaller influencers.
Better Online Visibility: Influencers can help improve a brand\’s online search rankings and visibility.
Storytelling: Influencers are great at telling stories, and they can include the brand in their content creatively.
Quick and Flexible: Brands can work with influencers for timely campaigns and stay relevant.
Measurable Results: Brands can track the success of influencer campaigns and see if they were effective.
Thus, we can see that influencer marketing is booming and one must leverage from this.