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Why Are Social Media Influencers So Effective?
Brands have figured out that the way they should be targeting millennials, Gen Z, and tech-savvy members of older generations, is through the channels they are already spending time on online. And it’s not just important where they’re spending time online – but how they’re consuming content, what they’re engaging with, and who they’re watching.
Influencers, or social media stars that have monetized their online presence through paid brand collaborations, have mastered the art of audience engagement. Most influencers create content around a certain niche, then engage their audience through witty captions, helpful guides, hilarious videos, insightful product reviews, and more to build their personal brand.
By partnering with content creators, most of whom have a dedicated audience that many brands would find enviable, you can engage your audience on the channel they’re on, through an influencer they already trust.
Who are these influencers, what is the state of influencer marketing in 2023, and why is influencer marketing so effective? Find out in this blog.
What Are The Different Types Of Influencers?
Let’s discuss the 4 types of influencers and the differences between these major groups.
- Nano-influencers. These are the lowest tier of influencers based on their number of followers and potential reach. Nano-influencers are usually up-and-coming accounts with under 10,000 followers.
- Micro-influencers. With a slightly higher following than nano-influencers and generally higher trust ratings than macro-influencers, are micro-influencers. These are the content creators that have a low but substantial following, typically between 10,000–100,000. Micro-influencers are known for their high targeting capability as well as high engagement levels from their followers.
- Macro-influencers. With anywhere between 100,000 and 1,000,000 followers, macro-influencers can be some of the most influential people on the internet, even when creating content for a niche.
- Celebrities. We all have a favorite actor, musician, or other type of celebrity. The truth is, most celebrities that we know and love are influencers, even if they didn’t start out on social media. Celebrities understandably have the highest reach of all of the influencer tiers.
What Are Influencer Marketing Statistics In 2023?
According to a recent Statista report, over 90% of consumers engage with influencers on a weekly basis on platforms such as Instagram, YouTube, and TikTok. This means that there is a huge potential audience for influencers and that brands can find relevant opportunities for promotional partnerships.
Here are a few other influencer marketing statistics:
- The influencer marketing industry is worth $13.8 billion.
- Around 87% of people take action after seeing product information on Instagram, such as following a brand, visiting their website or making a purchase online.
- Almost half of marketers (45%) said they find influencer marketing effective, with a further 35% saying they find it very effective.
Which Social Media Platform Is Best For Influencer Marketing?
Companies of all sizes have turned to social media influencer marketing to deliver targeted, branded messages from a trusted content creator to an engaged audience. The best platforms to do this are those that encourage communication and relationship-building between creator and follower.
According to research from Influencer Marketing Hub, most influencers prefer Instagram as their primary posting platform. Brands agree, with 68% of channel utilization going to Instagram.
Pictured: Top Influencer Marketing Platforms (Source: Oberlo, eMarketer)
Research by dropshipping app, Oberlo, shows that the top platform to conduct influencer marketing in 2023 is Instagram (72.5%), followed by Facebook (55.2%), TikTok (45.7%), and YouTube (42.5%).
All of these platforms can be great channels for influencer marketing as they have elements of connection and allow for a visually stimulating feed that encourages both interaction and scrolling.
What Makes Influencer Marketing Effective?
Here are a few reasons why influencer marketing is effective in 2022:
When coming to a purchasing decision, 49% of people value the opinion of influencers. That’s almost half of people who rely on the trusted word of online content creators before they buy something. If you want your brand involved in the conversations people are using for guidance, you’d better start crafting an influencer marketing strategy.
Another reason influencer marketing has become effective is because brands are generally not trusted sources of truth. In fact, in 2019, the term “brand” became a meme word on Twitter, with many users responding “silence, brand” to tweets from corporate accounts. Alternatively, influencers establish credibility by being a person rather than a corporate brand. This perceived authenticity is huge in the eyes of consumers, and while many influencers have it, most brands don’t.
As well as being effective, influencer marketing is cost-effective. Not only do influencers nullify the need for photographers, models, and great locations to produce high-quality branded content – they also often provide higher ROI than traditional marketing channels.
How Lionize Can Help You Develop An Influencer Marketing Strategy
Find, recruit, and manage the right influencers for your brand with Lionize. Our influencer marketing software helps you find the perfect influencers for your brand’s campaign. We also help you contact influencers, manage your campaigns, and track results. For more information about how Lionize can help your brand master influencer marketing, book a Discovery Call today.
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Influencer Marketing PDF
Keep reading to learn more about influencer marketing and how it impacts consumer behavior, and to get a PDF list of our top tips for influencer marketing.
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