In the past decade, the word “influencer” has transformed from a buzzword to an essential component in a brand’s marketing repertoire. According to the Influencer Marketing Hub, 93% of marketers have used influencer marketing in their campaigns, and it’s now considered a key advertising strategy.

The influencer marketing industry has grown exponentially, from $1.7 billion in 2016 to $13.8 billion in 2021 and an expected $16.4 billion in 2022. The growth of this industry proves that it is here to stay. Here are three reasons why influencer marketing is worth it:

  1. Influencer marketing increases the consideration of a brand, product, or service: Before making a purchasing decision, there is always a consideration phase. A consumer will typically use this time to search for additional information about the product or service, seek others’ opinions, and possibly try it before they buy it. Meanwhile, influencers are viewed by their followers as trustworthy. Their recommendations have a shortening effect on the consideration phase because they are considered to be a reliable source.
  2. The shortened consideration process is driving sales: Influencers function as a personal Yelp review, whether the content they create is paid or not. Brands can have influencers post content on their behalf as an endorsement for their business, which can be easily tracked through discount codes or personalized shopping links. Brands can also gift products to influencers and allow them to feature the product on their accounts. Both methods can drive sales and add value to a variety of campaigns.
  3. Influencer marketing is a great way to reach new markets: Companies can choose to branch out beyond their normal target market and partner with influencers who have audiences that can bring them new business. To reach new markets through different influencers, supplementing campaigns with paid digital media is the perfect way to ensure that the content is reaching all the desired markets.

People will always be looking to buy products or align with brands that tell stories and create experiences that resonate with who they are or aspire to be. Influencer marketing can be daunting to marketers who have not experienced the results for themselves, but it is also flexible and suitable for a variety of budgets and campaigns. With the right insight and tools to run an effective influencer marketing campaign, our team can help your brand or cause reach the next level.