Influencer Marketing – Most Marketers Have Realized Its Significance Amid the Pandemic

    Influencer Marketing - Most Marketers Have Realized Its Significance Amid the Pandemic-01

    Influencer marketing is here to stay, and most brands are dedicating a portion of their martech budget for it.

    Influencer marketing has not been a preferred area of investment for many marketers for a long time. However, a new study from Influencer Marketing Hub suggests that businesses are now changing their attitude about this strategy.

    In the recently published “Influencer Marketing Benchmark Report 2021”, the statistics showed almost 90% of marketers have agreed that influencer marketing is now effective. In addition, more than 25% of marketers intend to devote a budget for influencer marketing at some point in 2021 due to the increased use of social media across the world.

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    This unprecedented time makes sense for brands to transfer these budgets into influencer marketing and advanced digital marketing efforts. It is not surprising that the market will take time to recover from the COVID-19 aftershocks. Thus, now is the right time to build connections with the audience.

    As per the current market scenario, most people are working from home – in front of screens, most of the time. Even though marketers are re-evaluating their content marketing strategies to keep up in this uncertain marketplace, influencer marketing can significantly boost their business model.

    Indeed, many brands realize the massive demand for online content due to digitization, and as a result, they have increased their content marketing. In fact, nearly 62% of companies intend to increase the influencer marketing budget this year.

    As mentioned in the report, “Judging by the recent uptake in influencer marketing over the last few years, much of this increase in content must be created and delivered by influencers on behalf of brands.”

    With more marketers look to experiment with micro-influencers and influencer campaigns, the marketplace observes a steady rise in influencer marketing initiatives. Throughout 2020, around 66% of marketers expected the budget to increase, while some 17% believed it would stay the same.

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    Unsurprisingly, in view of the overall progressive sentiment about influencer marketing, about 90% of the respondents believe this to be an effective tool of marketing. Thus it is safe to assume that firms are satisfied with the positive results from influencer campaigns and are willing to continue the practice.

    Many experts believe in the cost-effectiveness, authenticity, and relatability that influencers as well as micro-influencers offer to the market and make products demanding. And with the pandemic induced digital growth, businesses across industries witnessed that e-commerce had boomed.

    According to the study, “After a few years of robust growth in influencer marketing, you might have anticipated marketing budgets to have shifted to “the next big thing.” Brands and marketers recognize the effectiveness of influencer marketing and are not searching for something new.”

    Clearly, influencer marketing is the need of the hour – enabling brands to build trust, awareness, brand-salience, get conversions, and reach out to prospects. Every content piece offers innovative solutions to a business, and it is one of the best forms of digital marketing, given the current slow economic growth.