Influencer marketing has become a very saturated market, but in the sense that social media has completely transformed, it’s no longer just pretty, rich and celebrities are classed as influencers anymore, it’s more in the sense that people from all kinds of backgrounds are becoming more influential as people are craving more real lifestyles to watch and relate to, which while refreshing, it’s becoming to stage now where it’s like what is next.
Influencer marketing has evolved so much in the past 5 years since COVID, so both influencers, businesses and marketing firms need to adjust their strategies accordingly to reap the rewards while also remaining relevant.
But what exactly and how do you do that? Let's dive into some of the psychological and data-driven reasons why influencer marketing works and how businesses can use it to their advantage.
There is substantial evidence out there from old psychology studies, such as social learning theory, that can help us explain why exactly people copy other people.
Human learning is basically everything we do, from learning from others to identifying, copying, and mimicking others who might be some sort of role model to you, whether it’s a celebrity, your parents or even influencers.
People who identify or see others as role models tend to look up to these individuals, creating a strong and maybe even one-sided connection that essentially influences little things about themselves over time.
This could include their style choice, what they watch, what activities they take part in and even places they want to go.
A good example would be if you see your favorite influencer wearing a specific type of clothing, like cargo pants, a man's graphic tee or a trendy tracksuit in sale they got gifted.
In more recent years, as mentioned, people are building more connections and trust towards those who are unapologetically themselves but also appear genuine in the eyes of social media, TV and any other way they have become social influencers.
This trust is reflected in their follower lists, comment lists and just general engagement online, which is then further translated into their product endorsements.
A great example would be all these skinny, pretty and well-adored influencers working alongside 'alo', a pilates company that sells this sort of LA clean girl aesthetic that has been around for a very long time and will probably always be something people are drawn to due to both admiration, role modelling and just generally wishing that was their life.
Also Read: How To Effectively Work With Online Influencers
While likes and shares are vanity metrics, there are so many other core indicators that could help you not only choose the perfect influencer for your brand but also measure the success of any influencer campaign.
Engagement Rate
This measure measures how actively an audience has interacted with the influencer's content, whether it’s an obvious ad or a subtle showcase of the product in a general video.
This data will allow you to establish if there is an issue with the ad itself or the target audience.
This tracks the number of followers or users that may have seen the influencer's ad post and decided to take action on it, whether it’s an inquiry or a purchase.
While this will depend on how the influencer is being paid to showcase your product or service, essentially, you will be able to calculate the overall effectiveness of the influencer's campaign, whether it’s a single post or a picture that they are targeting to new and existing audiences that know the brand.
When it comes to establishing why influencer marketing works, it all boils down to psychology and as humans, we can't help but be inspired by others and seek out things for ourselves, it’s how we have been raised and will potentially always be like that.
There are so many ways for you to measure the campaign, but do your research and work alongside an influencer that has a compatible audience to get the ball moving.
