Influencer Marketing - An Imminent Chain Reaction
Hi, Influencers! How are y’all doing?
You might be thinking “Wait up, we aren’t influencers. We don’t go around capturing each moment of our lives like it was the last”, but let me ask you another simple question.
Have you ever suggested a purchase to anybody in your life? Your answer will be “Yes” almost 99.99% of the time (Even Dettol couldn’t ensure 100% germ-free, so who are we!). This means you are in some way, an influencer.
Word of Mouth Marketing (Source: Word-of-Mouth Marketing)
In fact, word of mouth is the largest channel of communication a brand would like to tap into since 92% of the consumers act as a result of Word of Mouth Marketing. As a marketer, it’s the right time to stop collecting and start connecting with your audience.
Why Influencer Marketing?
Early-stage influencer marketing started with brand or product endorsements by high net worth individuals who had a solid grip on their fan base. However, things have changed in 2005 when Youtube was launched. There was a rise in the number of content creators and that led to the formation of online communities or rather a tribe of people with similar beliefs and ideologies.
As a brand, you now have the liberty to select the community you want to reach out to and not advertise to a billion random people who might or might not be interested in your product. This fundamental is reason is why Influencer Marketing works because people are hearing about the product from the people they trust and not from company advertisements.
With a projected market size of USD 24.1 billion for Influencer Marketing, it’s every brand’s agenda but only 6% have actually mastered it. Talk about scope right!
Bhuvan Bam, an Indian Youtuber with close to 20 million subscribers is an influencer for Mivi (they make headphones) and in many of his videos, you’ll find him using Mivi products while not mentioning them directly but for someone who regularly watches his videos, he might develop a strong inclination towards the brand.
Influencers do not always need to have a lot of followers. Micro-influencers (1K-50K followers) and Nano Influencers (<1K followers) have something that the brands want to leverage. The trust of their followers and the ability to initiate a chain reaction for their Word-of-Mouth Marketing.
We might soon see a day where all of us are influencers for some or another brand, it would be a strange world but honestly, we wouldn’t even realize it.