#BullaLessons Back to Basics: What’s influencer marketing?
With over 4.62 billion people in the world now using social media , the influencer market inevitably grew to $13.8 billion in 2021 .
You might be sitting reading this thinking those stats are impressive, but what really is influencer marketing? So, we’ll go back to basics to delve deeper into this sector.
What’s an influencer?
- An individual who has the power to affect the purchasing decisions of others because of their position in the market; using their relationship with their audience.
- They usually have a following in a distinct niche – however the size of the following does depend on the size/ topic of their niche, which we will come onto later on.
What’s influencer marketing?
Influencer marketing involves an online influencer collaborating with a brand to market their products or services.
In any industry, there will be influential people – people who have expertise in that field. Influencers aren’t always globe-trotting bikini ‘grammers, they can also be cosmetic connoisseurs, cybersecurity genius bloggers, celebrity chefs, or even motivational marketers on LinkedIn.
Basically, what makes these people influential is their targeted followings on the web and social media.
Even though there are influencers in every sector, the types of influencers range through the size of their audience. They may only have 10,000 followers or they could have millions; take a look at the breakdown of the tiers of influencers below:
Stay tuned for our next #BullaLessons article as we discuss why influencer marketing is important for brands and how they can utilise it 👀
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