Unlocking the Power of Influencer Marketing Strategies: A Complete Guide

Everyone can have influence, but not everyone can be an influencer. And I say this as someone who has participated in several influencer campaigns but would never claim the label.

This title “influencer” rightfully belongs to an elite group of people who can reliably elicit interest or action in others. And if you’re a marketer, this power of influencer marketing strategies is not one you can ignore.

According to Influencer Marketing Hub, the influencer marketing industry is set to grow to approximately $24 Billion by the end of 2024. Yup, that’s “billion” with a B, and it’s with good reason.

Influencers are proven to foster engagement, drive traffic and clicks, and generate conversions and sales. But before your brand can reap any of these benefits, it needs a well-thought-out influencer marketing strategy. I’ve got you covered there.

What is an influencer marketing strategy?

Influencer marketing is a strategy where a business partners with influential personalities to promote its brand or product and reach its target audience. These personalities usually have a large, engaged following on social media, established expertise in a particular industry, or impact on a particular market segment.

According to Aspire, 63% of marketers say influencer-generated content performs better than other brand content.

Consumers trust influencers more, finding them authentic and relatable. In fact, Sprout Social has found that 49% of all consumers make daily, weekly, or monthly purchases because of influencer posts, and 30% say they trust influencers more today than they did just six months ago.

This might be why 85% of marketers believe influencer marketing is an effective strategy, and 60% who already invest in it intend to increase their investment.

Even companies that hired smaller influencers got impressive results. Aspire found that “Nano-influencers” (people with fewer than 1,000 followers) consistently achieve the highest engagement across all platforms, at an average engagement rate of 4.39%.