As we scroll through our favourite social media platforms-Instagram, YouTube, Facebook or Snapchat etc. we get through products introduced or explained by people who have a substantial following. These YouTubers and Instagrammers are the subject matter experts and have great understanding of their industry, people follow them because they are able to explain and present complex concepts in a very understandable language and that is why, these leaders have been termed as influencers. So, let’s dive in into who exactly are these “leaders”.
We are so much inspired and impressed by their content, that we decide to purchase the product on the basis of word-of-mouth as their recommendation. My point being here is that sometimes you may not have heard about that brand previously, or you may have been a consumer of another brand of similar product, but still you decide to buy it after watching that particular video because of the creator’s influence.
This is the power of an influencer!
Let me enlighten you on who exactly is an influencer.
Who is an Influencer?
An influencer is a person who has a fan following or have build a community of a particular interest. The creator has a subject matter expertise in a particular industry and holds the ability to inspire his/her communityto take particular action.
In case of influencer marketing, the social media influencer or the creators have the ability to inspire the purchase decision of their followers, position the products in a superior way.
The influence or effect of an influencer’s word-of-mouth recommendations inspires their following’s thinking, perceptions, and buying behaviors thus product consumption, savings, investments, lifestyle, and just everything.
Anyone from social media content creators, artists, bloggers, celebrities, college students, CEOs, employees, doctors to even politicians, can be categorized as an influencer if their content have the power to influencer other people’s attitudes. The impact on their followers’ behavior is largely controlled by their following size, engagement rates, content quality &consistency, aptitude to interact with the community on regular basis, etc. These credible figures’ following or community may range in size and heavily depends on their content production, quality, language spoken, niche selected, etc.
They own special knowledge of a specific subject, consumer insights because of multiple direct interactions, and a tendency to create trends in demand for particular products.
Their influence or impact is visible through what type of products we purchase, why we switch brands, which podiums we use to make purchases, and what all factors contributed to make the informed purchases.
Now, you know, who an influencer is, let’s dive into aspects related to them.
Key Benefits of Working with an Influencer for a Brand?
A business or a brand can utilize an influencer of their niche or industry, who has power to influence their target audience/viewers to promote its products and services.The influencers’ outreach, pre-existing presence, content, credibility, community, and trust play crucial components to drive the mutual target audience or consumers to take influenced-informed purchasing decisions.
An influencer helps brands grow via “ influencer marketing ,” the most ideal marketing approach that builds brand authority and boost ROI by employing brand association leverage strategy – getting trust power by another person’s reputation.
Today, for most businesses and brands influencer marketing is the integral parts of a fundamental marketing strategy that drives awareness, traffic, and sales.
How Influencers can help your brand
- Build credibility, reliance, and increase brand recall
- Boost your affiliate marketing efforts
- Supplement your content strategy and fills in the voids
- Drive consumer trust &loyalty
- Delivers remarkable value to your target consumers
- Builds winning Influencer marketing campaigns
- Boost engagement
Types of Influencers
Influencers are Categorized in Three Ways:
According to Follower Count:
- Micro Influencers (10,000-50,000 Followers)
- Nano Influencers (1,000-10,000 Followers)
- Macro Influencers (5,00,000 – 10,00,000 Followers)
- Mid-tier Influencers (50,000 – 5,00,000 Followers)
- Mega/Celebrity Influencers (over 10,00,000 Followers)
According to Social Media Platforms they are present on
- YouTube Influencers or content creators
- Instagram Influencers
- Facebook Influencers
- LinkedIn Influencers
- Snapchat Influencers
- Twitch Influencers
- Twitter Influencers
- Tik-Tok Influencers
According to Region, State, or Country
- Regional Influencers in India, State-wise (Influencers in Delhi, Punjab, Marathi, etc.)
- Influencers in India, USA, UAE, Philippines, etc.
The Social Media Influencers Are Also Categorized Over Niches of
- Beauty Influencers
- Fashion Influencers
- Health &Fitness Influencers
- Comedy Influencers
- Entertainment Influencers
- Gaming Influencers
- Travel Influencers
- Dance Influencers
- Automobile Influencers
- Tech Influencers
- Mom Influencers etc.
How Much does an Influencer Make?
According to marketing experts, at the top influencer marketing agency in India, Vidcom, an influencer based on the category they belong to, the niche, number of followers and the deliverables can earn from Rs 5,000-25 lakh (and even more) from one brand collaboration.
So, How Much Influencer Costs According To Their Followers’ Count
- Nano influencers costs Rs 3,000-5,000 average per post, depending on the brand deliverables.
- Whereas micro influencers, depending on the category, may charge 10,000 to 2,00,000.
- While finance influencers might charge more because the community of creators is moderately minor as compared to someone from a fashion/beauty group.
- As the following goes up, macro influencers charge Rs 1,00,000-4,00,000, depending on the deliverables, the category of influencers.
- While mega influencers can ask for a sum of Rs 4-5 lakh and more.
- Being an influencer today is as profitable as having a good job in reputed organisation.
Depending on the time of tenure, influencers can cultivate good amount as they have managed to build a community authentically over a period of time, that follow them.
What Is The Role Of Influencers In Consumer Buying Behaviour?
The word “Influence” can be primarily defined as the supremacy to affect an individual, thing, or course of events. Moreover, as per the research, “International Social Influence”, social influence is a change in behavior or opinion that happens when we follow individuals who we believe have accurate information. Brown and Hayes describe an Influencer as “A third party who significantly shapes the customer’s purchasing decision, and may even be accountable for it.”
In 2023, we witness that the physical and temporal barricades of communication have been eliminated via social media, giving the chance for any consumer to assume the role of protagonist in the content creation and sharing. Often real-life consumers – influencers or opinion leaders play an important role throughout the consumer journey. Today more than 90% of users trust an influencer’s recommendations, which is why influencer marketing is becoming a significant investment for brands. Many consumers feel an onus to keep up with their activities. They soon become credible for all areas for consumers through the “halo effect”. Consequently, we engage with social media influencers because we are culturally programmed to care. We follow them for direction on social expectations and self-assurance.
Influencer marketing bangs into the social influence by capitalizing on influencers being positioned as experts or specialists within their spectrum.