Paola Celestino, founder of SPRK Media Group Inc
Influencer marketing has become a popular solution for brands looking to harness the power of social media and connect with audiences in a more credible and engaging way. Traditional advertising is giving way to this approach as new generations increasingly turn to social media to inform their purchasing decisions. Additionally, consumers are increasingly skeptical of traditional advertising, with 61% of consumers trusting recommendations from family, friends or social media influencers and only 38% trusting a brand recommendation.
Influential partnerships can help brands leverage that trust and strengthen relationships with their target audience. This strategy allows brands to market their products and services in a more authentic and cost-effective way, creating a sense of community and shared experience that resonates with consumers.
The versatility of this strategy and its measurable results have made it one of the most effective marketing strategies in recent years. According to Influencer Marketing Hub, brands can earn about $5.78 for every dollar spent on influencer marketing.
Our client, who specializes in selling luxury products, achieved significant success with just two events involving celebrities and 20 influencers. They generated 40 million impressions, gained over 7,000 organic Instagram followers, received over 3,000 interactions and created 350 pieces of content. As a result, the client saw an increase of $30,000 in e-commerce sales and $100,000 in total average revenue in the same month.
Let's take a look at what's happening in influencer marketing right now and some best practices for creating influencer campaigns.
Influencer marketing is on the rise
According to Influencer Marketing Hub, the influencer marketing industry was worth $1.7 billion in 2016 and will reach $16.4 billion by 2022. This is almost a tenfold increase in seven years. The market is expected to grow this year as well.
Create virtual influencers
Virtual influencer marketing is the latest trend in the industry. Virtual influencers are digital avatars, animated characters and computer models that have their own social media accounts, post content and interact with their followers.
They are gaining popularity among brands because they offer brand safety, creative control, long-term partnerships, data ownership, new revenue streams and great opportunities to launch metaverse events.
Why should a brand create its virtual influence?
• You are in full control of your influencers.
• No physical or technical limitations.
• Low risk.
• You don't have to worry about finding influencers or raising costs.
• You own 100% of your leveraged profits.
• You have unlimited creativity.
Most virtual influencers are based on a niche audience. Their virtual lives are ambitious and a lot of fun. The public seems to like them even though they are not real people and their campaigns are very successful from what I have seen. Additionally, virtual influencers can partner with real-life influencers on campaigns to reach a wider audience and leverage the power of both types of influencers.
Some popular virtual influencers include Lou do Magala who has over 31 million followers on social media; Lil Mikaela, who has over 3 million followers on Instagram alone. And Shudu, the world's first digital model with 239,000 followers on Instagram.
Famous brands like Samsung, Prada and Ikea Accepted virtual dominants.
Best practices for creating impactful marketing campaigns in 2023
• Set clear goals. Define your campaign goals before reaching out to influencers so you can effectively track KPIs.
• Strategy. Create a campaign strategy that aligns with your brand and inspires your team and potential influencers.
• Select dominant. Find influencers who share your brand values, can create high-quality content, and have a following among your target audience. Consider working with nano or micro influencers, who are often more affordable and can have a more loyal following.
• Join in person. Craft your approach to engaging with influencers and provide specific information about your campaign to avoid weak or forced contributions.
• Negotiate interest rates. Be transparent about your budget and negotiate with writers who meet your goals.
• Quality control. Make sure each piece of content matches your brand's voice and message and maintains a consistent look and feel.
• Measure success. Analyze content performance against your original KPIs to determine which tactics were most effective and to clarify your overall marketing strategy.
Last thought
Influencer marketing has therefore become an essential component of the modern marketing mix. His success is due to faith, dedication and reason The ROI it offers brands and marketers. The growing trend of virtual influencers shows what this strategy looks like. Developed to give brands new opportunities to create a positive image and connect with their target audience.
In 2023, when the influencer marketing industry is predicted to grow rapidly, consider the opportunity to increase your influencer marketing budget and gain a competitive edge in virtual influencers. With careful planning and choosing the right influencers, influencer marketing can deliver impressive results for your brand, increase your online presence and increase sales. Brands that don't invest in these growing marketing trends risk being left behind by competitors in the digital age
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