The Influencer Effect: What is Influencer Marketing?

The global influencer marketing market value stood at $21.1 billion in 2023, tripling since 2019. It’s clear to see that influencer marketing continues to grow, as a marketer it’s key to stay ahead and know everything about this marketing trend. Continue scrolling to discover what influencer marketing is, the different types of influencers, the principles behind influencer marketing and why it's so popular.

What is Influencer Marketing?

Influencer marketing is a social media marketing approach that uses advocacy and product mentions/showcases from popular and well-known creators, known as influencers. A decade ago influencer marketing was limited to celebrities and very few creators, now there are social media influencers in various sizes and niches.

These influencers have built a lot of trust and following and therefore their audience buys into what they say or do, meaning that they could be great advocates for your brand or product.

Types of Influencer

There is a huge variety of influencers out there each specialising in a niche from lifestyle and beauty to gaming or business. In any industry you can think of there will be appropriate influencers out there who would suit your brand.

Not only can you categorise them by their niche, but you can also group them based on their following. Let's break down the four different influencer types based on their follower count and explain exactly what each is and when you should use them.

1. Nano Influencers

These influencers have between 1,000 and 10,000 followers. They often have a strong community that they have built with their personable content. They may have the smallest reach out of all the influencers but if they sit within your specific niche they may be an effective option for your brand without breaking the bank.

2. Micro Influencers

The next level of influencer has 10,000 to 100,000 followers. Usually, these creators have a strong presence on platforms like Instagram, YouTube and TikTok. They are great at producing creative and relatable content for their audience making them a great option for marketers on smaller budgets.

3. Macro Influencers

Macro Influencers have a substantial number of followers between 100,000 to 1 million. These creators are established and well-known in their niche, possibly even leaders within them. If brands are looking at a more targeted approach but are not in the market to work with celebrities, macro-influencers could be the answer. Many nonprofits, startups and hospitality brands tend to utilise these influencers to target a large but specific audience.

4. Mega Influencers

These are your celebrities and public figures. Their celebrity status allows them to engage with a wide audience which can give brands plenty of reach and awareness, which is why it comes at a cost. However, because they have a large audience you may not get the engagement rates you’re looking for because the audience is too broad and (potentially) many may not resonate with your brand.

Principles of Influencer Marketing and Why is it Popular?

Influencer marketing has risen in popularity over the past decade, transforming brands' marketing and communications strategies. But what are the main principles of influencer marketing and why is it so effective?

1. Authenticity

Influencers are trusted by their followers because they share genuine experiences and honest opinions. Working with influencers means they can promote your brand's services or products by making it feel more like a recommendation rather than a sales pitch. It also gives a way for the brand to show how the product or service fits into everyday life through the influencer using it.

2. Access to Your Target Audience

Each influencer will have their own following in a certain niche, whether it is fashion and lifestyle, food and nutrition or travel. There is an influencer for every audience you could want. Therefore, you can collaborate with an influencer whose following aligns with your brand's target audience

3. Builds Brand Authority

Having others who have the trust of their audience talk positively about your brand helps you gain authority from the public. Just like getting good reviews, having influencers collaborate with your brand shows your business is the real deal and it makes their audience intrigued to find out more.

4. Enhances Engagement

If you’ve selected the correct influencer for your business, their audience will resonate with your brand. If they resonate with your brand they are more likely to check out your content, products and services. Increasing engagement as well as conversions and traffic.

Examples of Influencer Marketing

So many brands use influencers now as part of their marketing strategy, let’s take a look at a couple to see how it works for them.

Gymshark

Gymshark has a dedicated partnership team that scouts out talent for them to collaborate with. They call their brand ambassadors Gymshark Athletes and can usually be found on TikTok or Instagram showing off their latest haul and sharing their discount codes. Gymshark finds popular accounts that talk and post about gyms and training. They recently announced a new Gymshark athlete Sandhya Sivakanthan. Her profile is all about positive gym stories, workout ideas and genuine life content about herself. She now also promotes Gymshark with discount codes and wearing their clothing in her videos.

Mission Wraps

We have been working with Mission Wraps to create always on content and campaigns. They had lots of insights from research which showed that people didn’t know how to use wraps beyond a typical lunch wrap alternative to a sandwich, or for mexican night.

We created a strategy leveraging influencer marketing to address consumer hesitations and boost brand engagement. We carefully selected influencers who were known for creating unique and different recipes, which allowed us to showcase lots of new ways and occasions to eat wraps. We were able to reach millions and significantly increase brand awareness and social following. This approach not only highlighted wrap versatility but also fostered a community of engaged consumers and content creators - the main aim of influencer marketing. You can read more about this campaign over on our blog.

As we take a look into the future it is clear that influencer marketing is here to stay and will continue to play a crucial role in brand strategies.

By leveraging the trust, authenticity, and reach of influencers, brands can connect with their target audiences in a more meaningful and engaging way. As consumers increasingly rely on peer recommendations and authentic voices over traditional advertising, the power of influencer marketing continues to grow.

By understanding and embracing the principles of influencer marketing, brands can stay ahead of the competition and foster meaningful connections with their audience. If you’re interested in learning more about how influencer marketing could work for your brand, get in touch with the team today.