With growing acceptance of social media and internet in our daily lives, a new era of marketing has emerged which is “influencer marketing”. This trend has created various social media stars such as movie actor, actress, athlete, food blogger, youtuber etc. which have amassed huge fan following on their respective social media channels. For example, Facebook, Twitter, Google+, LinkedIn, Instagram, P-interest, Snapchat, Vine, Youtube and many more.
So, for those who are not familiar with influencer marketing terminology, it is a marketing strategy to reach millions of people via social media influencers for brand promotion. For Instance, Suppose X brand launched a cosmetics product and to promote their product they employ or connect relevant social media star to either post or tweet about them. It helps brands to get immediate attention of millions of social media users in less time as compared other form of advertising.
Let’s get down to some interesting facts about influencer marketing industry:
Market of influnecer marketing globally will be worth $5-10 billiion dollars in coming 5 years. It is currently worth 500 Crore Rupees in India.
Currently, 2.13 Billion Social Media users globally and is increasing with every passing day.
Businesses made $ 6.50 on every dollar they spent on influencer marketing.
Mckinsey Study revealed that influencer marketing is more effective than paid advertisements and also has high retention rate.
Influencer marketing gives $ 9.6 worth of average earned media value on every dollar spent on it which has increased from $6.85 (2014).
The next question is how long can influencer marketing sustain. Is it really going to be a game changer in the coming years or will it fade away quickly with passing years. So, what do you think about its future? Did you notice any sort of influencer marketing if so then please share your experience with us.
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This Article is written by Dushyant Sethiya.
Dushyant Sethiya is a Co-founder of Distribute11.com, platform to match brands and influencers. He has done “Post Graduate Diploma In Entrepreneurship” from University Of Cambridge (England) and “Masters In International Business” from University Of Leeds (England). You can reach him on Twitter @dushyantsethiya or email him at firstname.lastname@example.org.