Written by Jamella Braithwaite
The rise of social media has significantly altered the way we interact with other people. There are countless platforms where people can be entertained by others’ posts and tweets while they scroll through their feeds or play games on their phones.
The term “influencer” encourages people to believe that someone else has the ability to change opinions or attitudes simply based on their “influence.” It’s mostly used by brands and companies to promote a certain product or service, which causes consumers to follow them for support.
Many people are flocking toward becoming an influencer not only for fame but to be part of a booming industry. The influencer marketing industry was worth $14 billion in 2021 (a 42% year-on-year increase from $9.7 billion in 2020) and will exceed $16 billion in 2022. Many famous influencers on Instagram, Snapchat, and Youtube make more than $1 million annually in this industry.
There are numerous theories behind why influencers are so successful. The two main theories are: 1. The concept of the social proof effect. According to a study by Jennifer Gable, Ph.D. at Northeastern University, social proof is an inclination of people’s behaviors that results from observing the actions of others. The instant gratification that comes from seeing others’ posts to your liking can influence whether you buy something or not.
This is why many people use the #tags that other users in their networks have used on Instagram or Youtube to choose what they want in their favorite brands and products. Whenever I scroll through TikTok, and I come across a content creator making iced coffee in a cool glass jar, I want to purchase the same thing and make ice coffee myself. Did I want to make iced coffee before scrolling on TikTok or Instagram? No. Do I need a new coffee cup? No. What I do need is the gratification of having the same cool product as someone I’ve seen online. 2. The effect of social media on the mental health of young people. Young people are more susceptible to depression nowadays because they feel more isolated in this world than their predecessors.
Not having a job or being isolated from their friends can cause them to feel depressed, and they can feel better by simply scrolling through Instagram and seeing other people’s perfect lives every day. They feel as though they can make a meaningful connection with the people they see online. A lot of people who have been bullied or are going through depression have created content telling their stories and have gained an influx of followers and endorsements from brands. There are several reasons why some people are more successful than others. One of them is: Many become involved in promoting products and services for monetary reasons, but has it always worked? Some creators don’t understand that in order to make money, you have to connect with your audience and convince them to purchase the product or services.
The reason why influencers are so successful is that they’re able to connect with their followers on a personal level. The more personal and relatable an influencer can become, the more influence he or she has. Many business executives mistakenly think that all an influencer needs are a great-looking profile picture and enough followers to reach their target audience. This strategy might work for some businesses, but it’s ineffective overall. If an influencer doesn’t interact with and respond to their followers, it doesn’t create any business or connection between the two.
Once an influencer has connected with his or her followers on a personal level, he or she can form an organic community around the brand in which they are promoting. An organic community is a group of people who rely on each other for support rather than an artificial service that was created to promote a product. Up and coming brands, as well as popular ones, have created brand awareness and revenue through social media influencers. In the next year, 63% of marketers will increase their marketing budget and will spend over $4.62 billion per year on influencer marketing resulting in a 25% increase between 2021 and 2023. Brands will always continue to use influencers as long as they continue to add value to their business. Despite some people using influencers for commercial purposes and fueling the entire industry, influencer marketing has achieved its purpose within the marketing industry.
The content created by influencers adds value to brands and users on social media. It allows people to become more educated about products and services. By following influencers, users can be exposed to new products that they may not have known existed in their communities. The influence of these creators is useful even if they’re not paid. For example, a 14-year-old boy named CJ Kjellberg has over 93 million subscribers on Youtube and makes over $20 million per year by playing video games and reviewing them. He was able to grow his audience to this size without paid endorsements or brands sponsoring him. The influencer marketing landscape is, however, constantly changing, and many consumers are starting to distrust the content influencers are posting.
There are numerous YouTube scandals related to influencers who have been paid by brands to promote their product. When these videos get posted, and consumers find out that the influencer has been paid by a company to post about it, it causes them to lose trust in the influencer. Paid advertisement posts can consume social media platforms which can be upsetting for some as the brand’s authenticity is questioned. If an influencer constantly sponsors different brands, their loyalty towards a specific product is questioned as consumers try to understand if the content they post is genuine and authentic and not a ploy to accumulate money.
Many of the influencers who get paid to post sponsored content also have little to no experience with the product they’re posting about, which creates a poor consumer and brand experience. Brands do not want their product being promoted by someone who knows nothing about them or doesn’t even like the product in the first place. One way brands can remedy this situation is by having influencers test out products before they start posting sponsored content.
This way, if the influencer does not like the product, the brand will know and can make future decisions accordingly. It’s important for businesses and brands to ensure that they’re working with real and authentic influencers. As the world becomes more connected, it will require influencers to become more accountable for their work. The value of influencer marketing can be described as four things: Reach, Credibility, Amplification, and Authenticity. The reach of influencer marketing is the number of individuals that are reached by a campaign between a brand and a person/influencer.
The credibility of influencers is the power or trustworthiness of someone promoting a certain product or service. They are trusted to act as a knowledgeable source of information, and they are considered someone who has earned their authority or position. The amplification of a campaign is the type of response or referrals resulting from the promotion. The authenticity of influencer marketing is the overall trustworthiness of an influencer and his or her audience. Influencers have been one of the top marketing channels to reach companies and consumers across other channels.
The use of influencers has become popular, especially in social media marketing strategies to spread awareness about brands and sell their products easily.