Every day the power of social media influencers grows and it is a difficult trend to ignore with Selena Gomez being awarded the number one position on the Instagram rich list earlier this year making $550,000 per photo shared to 122 million followers (Nine, 2017).
So why are companies paying so much to be featured in influencers posts?
Well the reason is in their title ‘influencer’, they have a unique and organic approach as it is a person communicating to their followers, not an artificial algorithm finding products that a consumer may enjoy and pushing it at them through something like banner adverts. As well as this when a consumer followers someone they are investing their own time into getting to know the influencer or at least the influencer’s persona. Not only this but if the product being an advertised is from a smaller unknown company using an influencer can help the company build trust with the consumer as they may see the influencer as a person they can trust, which is no surprise seeing as 84% of people rely on word of mouth for product and service recommendations (GetAmbassador, 2015).
However, that is not to say that having an influencer will immediately make your brand popular, if the influencers audience does not match your target. As well as a company making sure the demographics line up it is important for the influencer to make sure their views mostly line up with the companies. This is especially important when looking at recent events in the social space, as some influencers have been dropped from company’s after making rude or offensive comments either online or caught doing it offline.
While social media influencers are a very powerful marketing tool they are also a very dangerous one, with audiences easily being able switch from liking a influencer to hating one resulting in a loss of large amounts of their audience.
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Kapadia, A. (2017). 40+ Word-of-Mouth Marketing Statistics That You Should Know. Getambassador.com. Retrieved 23 August 2017, from https://www.getambassador.com/blog/word-of-mouth-marketing-statistics
The shocking amount social media influencers are pocketing per post. (2017). Honey.nine.com.au. Retrieved 23 August 2017, from http://honey.nine.com.au/2017/08/12/12/11/shocking-amount-social-media-influencers-earn
Agency, T. (2017). » The Power of Social Media Influencers. Capitolcommunicator.com. Retrieved 23 August 2017, from http://www.capitolcommunicator.com/the-power-of-social-media-influencers/