Influencer advertising – An introduction
Influencer advertising is the kind of advertising that targets a specific group of individuals who have potential influence over a market. Influencers are people who have a good market reach and reputation; such as journalists and blog owners. Marketing activities are performed around these influencers with the aim of persuading them to promote a particular product or service. As influencers hold the public’s trust, advertising through their medium is highly beneficial for the companies as it helps them to establish goodwill in the market. Influencer marketing is a better and quicker form of advertising and essential to survive in the modern business world. However, marketers have to select their influencers carefully, keeping in mind their budget and the kind of audience they want to target.
Influencer advertising is not a new concept. It dates back to the time when companies would hire celebrities to promote their products or services. In the recent past, the role of social media has drastically boosted this form of advertising. Social media blogs and apps help people create a direct social connection with the masses, which is a very large potential market. The larger the reach of an influencer the better it is for the company. Like any other advertising medium, influencer advertising has a cost, and it depends on two key factors namely quality and supply.
In regard to quality, there are factors such as the influencer’s niche, the size and type of audience, saturation, the location of the audience, and the kind of engagement the influencer has with the audience. On its part, supply revolves around the number of open ad slots an influencer has. Popular influencers get many campaign activities. Some companies even offer to pay more for every post, especially when it boosts their profit margins. Similarly, such influencers would want to make deals with the best paying brands.