Why Is Influencer Marketing Important?
Should your brand invest in influencer marketing? Why is influencer marketing so popular in 2024? It's 2024, and there are 5.07 billion users across social media platforms, which equates to 62.6% of the global population, according to a study done by Kepios. Social media attracts some of the largest and most diverse audiences in 2024, and the barrier to entry for brands is extremely low!
Curious why so many brands in 2024 allocate so much of their marketing budgets toward influencers? In this article, Hollywood Branded shines a light on the benefits of influencer marketing and why so many brands use it in 2024.
What is Influencer Marketing?
Influencer Marketing utilizes the credibility and established audiences of influencers to promote brands through endorsements and product placements. "Influencers" can refer to content creators, celebrities, and public figures. Brands look to collaborate with influencers, who then post content on their social media to showcase the brand to their audience. You may be wondering: what's so special about these collaborations? Why do brands choose to use influencer marketing?
Through influencer marketing, brands are able to leverage the engaged audiences and heightened social status of influencers in several ways. There are many benefits to using influencer marketing, but it can be summarized to 4 main points. Here are the 4 reasons brands love to use influencer marketing in 2024:
1. Influencer Marketing is Authentic
Nothing is more convincing than a genuine endorsement from someone you trust! Because audiences develop such strong parasocial (one-sided) relationships with influencers they follow, they trust what their favorite influencers have to say. This strategically utilizes word-of-mouth marketing, and drives organic interest in your brand.
Sponsored content frequently includes creators honestly using and testing products, resulting in authentic endorsements. These genuine recommendations are game-changers for brand image. Influencers' authentic experiences resonate more deeply with audiences, fostering stronger connections and driving consumer decisions. This strategy elevates brand credibility.
2. Influencer Marketing Reaches A Targeted Audience
A challenge often seen by brands is targeting the right audience with their marketing. Influencer marketing is one of the best ways in 2024 to market to specific audiences. Curating the influencers used in a campaign can target specific demographics and reap significant return-on-investment!
Influencers usually stick to creating content about their niche, which attracts organic engagement from followers who are interested in the same topics. And bigger isn't always necessarily better—many micro-influencers and mid-tier-influencers have smaller, highly engaged audiences who are largely receptive to the influencer's recommendations!
Other helpful functions such as hashtags and social media SEO (search engine optimization) allow brands to formulaically advertise to specific audiences on various social media platforms.
3. Influencer Marketing Establishes Social Proof
I saw Cady Heron wearing army pants and flip flops, so I bought army pants and flip flops. (Mean Girls, 2004). Social proof causes people to copy others' actions in order to fit into their environment. Since other's are doing it, we should do it too, right? Social proof is a powerful phenomenon that influences people subconsciously every day! This secret unlocks incredible potential for your brand's image!
Influencers play a key role in establishing social proof for your brand. Creators with engaged audiences are trusted and viewed as trendsetters. When they use and genuinely recommend a brand or product, their followers are likely to share their opinions and try it for themselves!
Photo Credit: Alix Earle | Instagram
4. Influencer Marketing Allows for Direct Communication
What's unique about content creators on social media platforms is that they can directly interact with their audience! Viewers can get their questions answered, receive recommendations, and generally engage in conversation directly with influencers in the comment sections of posts!
Social media platforms are one of the only ways that customers can get answers to their questions and easily interact with other buyers and advertisers!
This boosts the reliability of brands, since influencers can vouch for their favorite brands directly to audiences. Being seen used by credible influencers creates the sense that brands are trustworthy.
Ready to Start your Influencer Marketing Campaign?
Reach out to Hollywood Branded for help from our team! We work with trending influencers and agencies to create quality content. Our team will help you develop your influencer strategy to reach your desired demographic and launch comprehensive influencer marketing strategies to boost your brand image!
The fusion of brands and Hollywood is creating a new paradigm in marketing. By producing content that entertains and engages, brands are promoting their products and becoming a part of the cultural conversation. These mutually beneficial partnerships are a win-win for everyone involved!
LEARN MORE ABOUT INFLUENCERS
Master your brand's influencer marketing skills, and stay up to date with the latest pop culture trends: continue your journey with the articles below!
- Top Instagram Trends for Businesses in 2024
- The Hidden Value of Product Placement
- Marketing from an Influencer's Perspective
- A Deep-Dive into the Kardashian-Jenner Empire
- 4 Reasons to Choose an Influencer Agency Versus Influencer Platform
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