Influencer marketing arguably represents one of the most significant shifts in media and marketing in recent times. Increased social media usage, alongside the fast-paced growth of social networking platforms, is evidence that social media is playing a greater role in how consumers spend time, absorb information and make purchasing decisions. Brands are looking for effective means and advertising channels within the developing social media space, and most are looking towards influencer marketing to accomplish their goals.
Slated to become a $5-10 billion market, influencer marketing leverages the popularity and relationships of key social media leaders, or 'influencers', to relay messages to audiences. Brands are turning to influencer marketing for a myriad of reasons - influencer marketing is often seen as a way to reach consumers through the online figures they trust the most.
Using an influencer in a marketing campaign adds authenticity to a branded message because influencers can weave the brand into their own storyline. Likewise, brands can use influencers as a way to develop their own identities in a social media space.
Influencer marketing is also effective and often adopted by brand advertisers seeking to sidestep ad-blocking, and to target hard-to-reach, niche audiences.
There are 10 major steps that brands will need to follow in order to successfully start an influencer marketing campaign - we've outlined them in this infographic.