Three key changes in Influencer Marketing
Social media influencers first rose to prominence 10 years ago and now they can be seen everywhere, working with some of the biggest brands in the world!
There have been three key changes in the world of influencer marketing over the course of 10 years. Check out the key ones here…
1. Financial standards have changed
When influencer marketing first started making an impact on the world, brands and businesses were of course keen to get involved with the phenomenon. However, as it was still fresh and people everywhere were trying to get to grips with how it worked, brands and businesses had nothing to compare costs against, therefore it started out as an expensive, but extremely effective route to take.
As the knowledge of the industry increased and more and more influencers began to emerge, costs have become far more rationalised and can be compared to one another. So, influencer marketing has now become an extremely cost-effective route of advertising.
2. Agencies making life easier
When the influencer craze began, brands were wanting to connect with influencers but as there were fewer of them and the demand for them was high, accessing them was a challenge.
However, as the popularity of these influencers increased, more and more influencers were turning to management agencies to handle all their brand collaborations and work.
These agencies provide a middleman between brands and influencers to ensure the collaborations are set up efficiently and are managed expertly from beginning to end.
3. The increased power of micro and mid-level influencers
Over the years, three different types of influencer have emerged within the industry – macro, micro and mid-level influencers.
Macro influencers account for influencers with more than 100,000 followers.
Mid-weight influencers cover those with 25,000-100,000 followers.
Micro influencers have between 50-25,000 followers.
The use of mid-weight and micro influencers is becoming increasingly popular with brands as they are able to reach a great number of people, while still being cost effective. These influencers are the perfect option for brands with a smaller marketing budget and often brands will use multiple micro influencers to reach a variety of different audience types.
However, for brands with a bigger budget and wanting to take their campaign or promotional activity to the next level, macro influencers are certainly the way to go as some of the biggest influencers are able to access not thousands, not hundreds of thousands but multi-millions!
For more information about how Influencer Champions can help bring a boost to your influencer marketing activity, contact Amelia Neate and team on 0203 95 80 427 or email firstname.lastname@example.org