Over the past five years, influencer marketing has expanded dramatically, unlocking powerful new strategies for brands. This boom is reflected in the market's value, which is expected to climb to $21.1 billion in 2023.

A key driver of this growth is the rise of "social commerce”, as social media platforms transform into dynamic shopping destinations. When combined with the dominance of mobile devices and a growing hunger for video content, it's clear that influencer marketing is entering an exciting new era. 

This evolution presents a significant opportunity for brands to connect with customers in meaningful ways.

Let's explore the benefits of influencer marketing to help you craft a winning strategy.
 

Improve Brand Awareness and Exposure

Businesses frequently partner with influencers to build brand awareness, and macro-influencers (with 200k+ followers) are particularly effective for this goal.

The Power of Macro-Influencers:

• Massive Reach: Collaborating with them instantly puts a brand in front of a huge audience.
• Market Expansion: Influencers with an international presence provide a quick and affordable way to test new markets.

The Limitation:
The downside is that while macro-influencers generate awareness, they struggle to create the deep, authentic engagement that micro-influencers (10k-100k followers) deliver.

The Solution: A Hybrid Strategy
The key is to use a blended approach. Leverage macro-influencers to build brand awareness and then work with micro-influencers to turn that awareness into genuine engagement.

Reach Targeted Audiences

Micro influencers are, as mentioned above, effective at creating deep engagement with their follower communities. 

With relatively small social followings, these influencers foster closer, more meaningful relationships with their audience – a useful opportunity for brands.

This is especially practical for smaller brands looking to build a foundation within their vertical. 

Influencers usually specialise in an area or topic, such as beauty, nutrition or fashion, and attract audiences that are interested in those subjects.

Consequently, brands can partner strategically with industry-relevant influencers. 

This saves both time and costs when segmenting and targeting their market, driving targeted traffic to their sites faster and more effectively.

Build Brand Authenticity and Trust

92% of consumers trust an influencer more than an advertisement or even a traditional celebrity endorsement. 

Brands that partner with influencers who endorse their products enjoy a greater level of trust from their followers by being relatable, genuine and consistent.

For brands, the key to this is working with an influencer whose niche and values align with theirs.

When these overlap, followers are more likely to be interested in and engage with the resulting sponsored content. 

In fact, 75% of marketers are working with influencers who align with their values to improve consumers’ expectations and loyalty. 

Boost Sales and Revenue

As social commerce increases in popularity, brands are now leveraging influencer marketing to not just market their products but to sell them too.

Social media platforms are becoming more sophisticated, and recent years have seen numerous innovations to help brands and individuals sell their products in-app. 

From Instagram Shopping or Twitter Shops to TikTok’s Live Shopping, there are plenty of ways to promote, market and sell across social media.

But simply pushing products via these channels isn’t enough. Brands should ensure that their influencer partner lends their skills and expertise to increase conversions.

Take livestream shopping, for instance. An engaging and interactive shopping experience, it allows shoppers to see (and purchase) products in real time.

However, truly successful livestream shopping relies on sessions led by influencers (or, more recently, creators), in which they can offer their insights and advice. A beauty influencer exploring various types of skincare is a good example of this.

By discussing products and their uses and benefits, as well as fielding questions from the livestream viewers, influencers can boost a brand’s sales in an authentic, trustworthy way.

A strong influencer strategy helps marketers establish a deeper connection with their customers. 

But identifying the right influencer, reaching out to them and building a mutually rewarding relationship can be complex.

To overcome this, more and more brands are partnering with platforms like THG Ingenuity. 

Leveraging our dedicated network of influencers, we have helped numerous brands strengthen their online presence, locally and globally.

With THG Ingenuity, brands can establish influencer relationships in targeted markets to drive brand awareness, engagement and sales around the world.

Get in touch for more information on how we can support your business.