Social media has undoubtedly changed the way companies advertise. In May 2005, Facebook launched its first option for advertising on the platform. Virtually no one could have predicted that social media would advertising would bring in about $8.4 billion in revenue in 2015, just ten years later.
Coupled with the decline in print, older digital advertising methods have recently seen lessened success. Banner ads have greatly declined, and paid search is tricky for certain businesses. Furthermore, traditional advertising methods often come across as disingenuous – and consumers are not likely to respond to that.
Earned versus paid media is a hot topic in the marketing world right now. On average, marketers who utilized an influencer marketing program in 2014 got $6.85 in earned media value for every $1.00 of paid media. That’s a great marketing result by any standards!
Brands are finding that not only does social media help them get a great return on their marketing investment, but it also helps them find better customers. Seeing an ad on television is one thing, but getting a personal recommendation from someone you respect is much better, right?
Think of it this way: a qualified influencer has a interested, specific audience that trusts their recommendation. While there is plenty of clutter online, a truly established influencer is valuable to companies because they have been able to gain the trust and admiration of a large group of people. A consumer is more likely to take their advice than advice they perceive as an advertisement directly from the company. In other words, your opinion means a lot! Smart marketers will look at how your audience aligns with their target audience. If it’s a good match, your social media presence can be extremely valuable to the company.
Most marketers are going to be increasing their influencer marketing budgets, so now is a good time to get started with a service that connects brands and influencers, like Social Wage. Starting immediately can help you start monetizing your social accounts before they get too busy with increased demand!
Consumers are spending plenty of time on their social networks, and paying attention to a new breed of influencers. Social media investments made by companies are projected to grow even more with these trends. In fact, marketers rated influencer marketing as their fastest growing channel for gaining customers on the internet.
Companies are beginning to realize the value in influencer social media marketing. You have been working hard to grow your social media pages, so now it is time to use that to grow your bank account. Try Social Wage to earn money as an influencer!