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06 April 2022

The power of influencer marketing

Influencer marketing has grown significantly over the last five years, creating new opportunities for brands of all of shapes and sizes. In fact, the global influencer market was valued at $6.5 billion in 2019 and is projected to reach $16 billion by the end of 2022 (Influencer Marketing Hub). 
 
The widespread use of social media platforms, the prevalence of mobile and the growing demand for video and digital content have fuelled the surge of influencer marketing, as more and more brands find that they want to reach consumers in a more effective way. 
 
According to Oberlo, the number of social media users amounted to 3.6 billion in 2019 and is expected to reach 4 billion by the end of 2022. Gen Z is the age group that most actively engages with brands on social media, with 86% of them using platforms like Instagram or TikTok to discover new products. They are also highly interested in video content, with 92% saying they have watched a video clip or visited a video-sharing site in the last year (GWI).  
 
Additionally, with social media platforms progressively evolving into real shopping hubs, brands are incorporating influencer marketing into their digital strategies to reach and connect with new audiences and obtain valuable insights and information around the product and the brand. With 86% of consumers looking for advice and recommendations from social media influencers to help them with their purchasing decisions (Digital Marketing Institute), the majority of brands are planning to create their influencer marketing budgets in 2022 (Techjury). 
 
Some of the key benefits of implementing an effective influencer marketing strategy include:  
 
Improving brand awareness and exposure. Collaborating with macro-influencers who have more than 200,000 followers can help brands expand their visibility and reach. Influencers can generate a high electronic word-of-mouth by creating engaging and interactive content that can help to boost online conversions. Additionally, influencers who have an international presence enable brands to enter and test new markets quickly and cost-effectively.  
 
Reaching targeted audiences. Influencers usually specialise in an area or topic, such as beauty, nutrition or fashion, and attract audiences that are interested in those subjects. Brands can partner strategically with industry-relevant influencers and save time and costs when it comes to segmenting and targeting the market, while driving targeted traffic to the sites faster and more effectively.  

Building brand authenticity and trust. Data shows that 92% of consumers trust an influencer more than an advertisement or traditional celebrity endorsement (Musefind). Brands that partner with influencers who show affinity for their products garner a significant level of trust from their followers by being relatable, genuine and consistent (Deloitte). In fact, 75% of marketers are working with influencers who align with their values to improve consumers’ expectations and loyalty (Tinuiti).  

Boosting sales. As social commerce increases in popularity, brands can leverage influencer marketing to not only introduce their products though video demonstrations but also drive direct sales. With social media platforms becoming more sophisticated, influencers can include links to online shops in their videos or posts and convert users into buyers.  
 
 
Marketers are becoming increasingly aware of the importance of working with influencers and partnering with platforms like THG Society, which help brands to establish and strengthen influencer relationships in targeted markets in order to drive brand awareness and positioning and consideration.  
 
To maximize the effectiveness of the influencer strategy, it remains crucial for brands to ensure they are meeting the interests and expectations of the creator’s audience. Understanding the demographics and psychographics of the influencer’s following is vital to reach the brand’s targeted audience. Creators with smaller followings (micro and nano-influencers) can provide more targeted and cost-effective audience engagement.  
 
Thanks to the widespread use of social media, influencer marketing has grown into an efficient and powerful tool in content marketing. Having a good influencer strategy help marketers to establish a deeper connection with customers other forms of marketing and advertising struggle to achieve.  
 
At THG Ingenuity, we have helped numerous brands to strengthen their online presence locally and globally through our 360-influencer marketing solution, THG Society. Get in touch for more information on how we can support your business.  

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