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“Hey, where did you get those shoes? So cute! Need to get my hands on a pair.”
“Oh, found them on TikTok from an influencer I follow! If she raves about how awesome they are, I run to purchase.”
This is a typical conversation of many Gen Zs as a result of influencer marketing, which has only improved astronomically with TikTok. Forbes magazine states that “...the marketing industry recently experienced one of the most significant transformations of the modern era: the advent of digital influencer marketing, now a fundamental component of marketing strategies everywhere.” Since 2016, there has been an annual increase of at least 50% in its estimated market size.
And it's not just businesses that are taking notice of this trend. Even major organizations are taking hold of this marketing strategy. About 1360 influencer marketing focused platforms and agencies entered the market in the last 5 years alone.
So if you're not already using influencer marketing as part of your digital marketing strategy, why wait? With its ability to reach large audiences and generate real results, it's one trend you can't afford to ignore to take your business to the next level!
Digital influencer marketing involves collaborating with online influencers to promote your brand or product. The simplest definition of influencers are people who have a large platform online, and they can help to promote your brand by sharing your content with their followers.
Truly, it is only human nature that drives us to make purchases that are informed by what our family and friends have recommended. Psychologist World States:
“People feel the need to be informed by accurate information, and when they lack confidence in their own knowledge, they turn to others in the hope that they will provide them with the correct information. By accepting this information, regardless of whether it is accurate, the person is subjected to social influence.”
Digital influencer marketing first started to become popular in 2017, as brands began to realize the power of social media. Forbes explains that, “As social media traffic increased, e-commerce exploded, and the entire digital marketing sector pivoted to a direct-to-consumer approach.” Purchasing became an actionable experience with users actively seeking out product reviews from trusted voices. As a result, the promotions became the content, transforming digital advertising. Influencer marketing has grown to $22.3 billion and is projected to escalate to $84.89 billion by 2028.
Influencer marketing has opened a whole new world of possibilities. It’s an incredibly effective way to reach a large audience of thousands or even millions of people. Over three-quarters of consumers trust opinions they find on social media to make the right decision in buying a product or service. By partnering with an influencer, you can build trust with potential customers. According to Digital Marketing Institute, 70% of teens trust influencers more than traditional celebrities, keeping authenticity and genuine interest in mind as desirable qualities.
According to Influencer Marketing Hub, companies earn $5.20 for each dollar invested in influencer marketing with the highest performing 13% of businesses returning $20 or more for every $1 spent. Influencer marketing yields the highest ROI next to blogging and social media shopping tools.
Keep in mind that influencer marketing is an investment — you must devote time and spend in finding the right person to promote content that appeals to your target audience. Results are not going to show immediately, so sit back, relax, and let the algorithm do it’s job.
Here at Integrity, our retail clients have harnessed the power of influencer marketing in their industries.
TikTok is one of the fastest growing social media platforms, and 78% of small businesses have seen positive ROI from TikTok marketing. For the retail industry, it gives brands the opportunity to bring “retailtainment” to social media, creating a strong relationship between brand and customer.
Our clients Carpet Weaver’s and Carpetland have embraced TikTok marketing to leverage their digital marketing strategy, covering topics such as product features, monthly promotions, project transformations, team spotlights, and behind the scenes of all things flooring and furniture.
Are you ready to take on influencer marketing? Contact us and let Integrity help you create awesome strategies to keep your brand coming out on top.
