In today’s world, influencers have transformed modern marketing. Influencer marketing has been on the rise over the last few years and shows no signs of slowing down. Advertising has stayed relevantly the same for about 50 years. Until the internet and social media came and disrupted it. Ask yourself, when was the Last time you bought something because you saw a newspaper ad or a billboard.
In today’s world, advertisers are spending their money towards platforms like YouTube, Instagram, and Facebook. In addition, on top of these platforms, we have these people called influencers. Now the question arises, what are influencers?
Anyone and everyone in today’s age can become an influencer. An influencer is an individual who has the power to affect purchase decisions. An individual who has a following in a particular niche, which they actively engage.
An influencer constantly posts online through platforms such as Instagram or Youtube in the niche of their choice. Therefore, this could be Beauty Tutorials, or Comedy Skits, Vlogs and Fashion Inspo. If you are wondering what a Vlog is, A video blog or video log, usually shortened to vlog, is a form of blog for which the medium is video, and is a form of web television. Like for example, there are influencers who film vlogs of themselves like drinking soup or their daily routine in life and viewers find it entertaining and somehow they have amassed a huge following and have become an influencer.
So if you are wondering why your kids are glued to YouTube, this is why. Currently, the influencer marketing is $8 billion dollar industry and projected to be a $15 billion dollar industry by 2020. Therefore, many brands are realizing this is a highly effective way to market to millennials.
Over the past, few years we have seen businesses virtually transform especially in the e-commerce space thanks to influencers. As of 2019, 82% of consumers trust peer recommendations. Moreover, 85% of buyers trust reviews as much as personal recommendations. 60% of in-store purchase decisions are influenced by something that someone has seen on social media post or a blog post. An average of millennials are spending 9 hours on social media a day. So often, what is happening is these YouTubers are watching and building relationships with their viewers, in turn, becoming their friends more so than their real-life friends.
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