With the rise of social media came the rise of influencer marketing. Remember when the only ads we saw were on TV or billboards? Now, with consumers on their platform of choice (Instagram, TikTok, Facebook, YouTube), we’ve been given the freedom to choose what type of content we consume + how we consume it. This has left brands scraping to reach their target audiences' attention and build a sense of community across a constantly increasing number of platforms. Influencer marketing effectively solves that problem.
In the last 24 months, influencer marketing has been a part of almost every conversion client conversation we’ve had —
So, what exactly is influencer marketing, and how does it work?
The definition of Influencer marketing is a collaboration between popular social-media users and brands, where social stars promote the brand’s products or services to their followers on various platforms.
And to back up, this isn’t a revolutionary idea. Before the internet, brands partnered with influential people all the time. Think: Michael Jordan for Nike, Got Milk? Campaigns, Rodger Federer for Rolex, and more. With the growth of social media (big shoutout to Meta), these collaborations have found a new digital home.
Fast-forward to 2024. Influencer Marketing is one of the most powerful marketing channels for businesses, enabling them to reach wider audiences and find new customers. It’s a $21.1 billion Industry — brands spend millions on influencers, with plans to increase their budgets.
According to Sprout’s 2024 Influencer Marketing Report, almost half of all consumers (49%) make purchases at least once a month because of influencer posts. And on top of that, almost all consumers (86%) make a purchase inspired by an influencer at least once a year.
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Why invest in influencer marketing anyway?
What makes partnering with influencers so effective is that it drives brand awareness to new heights due to its massive reach, ultimately unlocking new audiences, loyalties, and conversions. These social media influencers foster authentic connections with their audiences and influence purchase decisions + brand reputation. Audiences *trust* what influencers say and recommend because they operate independently from the brand they are promoting, and they choose their partnerships, ensuring that they align with their overall ethos. Additionally, by creating their own content and integrating a company’s advertising specifications into it, the influencer is in control of the brand's message + narrative. This promotes authenticity and can help reach a specific target audience.
An example of a brand that did it well is Rhode, Hailey Bieber’s viral skincare + makeup brand. Since its origin, Rhode has harnessed the power of social media by leveraging the influence of macro and micro-influencers to generate buzz + demand. By sending their products to the right people and encouraging user-generated content (UGC), they’ve continued to amplify their reach organically. Rhode's strategic use of TikTok + Instagram keeps them trending, top-of-mind, and in demand, leading to waitlists of over 10,000 people for new products. Brands like Rhode, Away, Supergoop!, Crown Affair, and more are great examples of harnessing influencers to drive awareness + sales.
To be clear, a brand like Rhode was able to mass-seed its products because it is celebrity-backed, but for the most part, influencers have made careers for themselves and expect true compensation for their time / creativity / energy / clout.
Is influencer marketing right for me + my brand?
So, if you’re wondering if you should start working with influencers, the answer is (overwhelmingly) yes.
Though not every brand will be able to afford to work with top influencers or celebrities, an agency can help you put together a strategy that works for your brand, goals, and budget. So, if you’d like to find an agency that is an expert in all things influencer marketing, Breef’s network of over 25,000 agencies has you covered.
Plan your influencer marketing project here, or book a call with one of our Strategists to get started.
