It’s safe to say that the global debate around the growing importance of the new generation of independent influencers as an unmistakable driving force in modern-day digital marketing is not a new one.

Let’s go back to what influencer marketing is – in essence it is a marketing concept that utilises important content creators to stimulate serious engagement and conversations around a brand or product to make a decision.

More simply, one can say that it involves collaborating with popular and relevant influencers in your niche market to promote your brand and increase your revenue. These content creators are perceived as experts in their niches, and their recommendations are often highly regarded by their followers.

We’ve investigated a few questions around social media and influencer marketing: 

Why market through social media?

Social media allows you to reach, nurture, and engage with your target audience – no matter their location. When a brand connects to its audience thorugh social media, it can also generate brand awareness, leads, sales, and revenue.

Apart from social influence, social media engagement provides a brand with more credibility, access to larger audiences, user-generated content, and new leads and customers.

What role does social media play in your life?

It is generally accepted that social media plays a significant role in today’s life. Posts about the hottest fashion shows, the latest beauty and health products, the best child educational methods or apps, the latest car models, and much more, have irresistibly and undoubtedly grabbed your attention and interest.

Chances are that you’ve also spread the news to your close friends. Consequently, it is now accepted that influencers have fast evolved into a practical and scalable marketing channel that any brand screaming for attention out there, can no longer afford to ignore.

Is digital marketing the way of the future?

The scope is broader when it comes to digital marketing. From a present point of view, digital marketing could remain the most powerful way of marketing going forward. But as the dynamics of digital marketing is changing every day, experts point out that a digital marketer or agency needs to be agile, alert, smart and adapt to the latest changes.

The impact of influencer marketing on business?

Present estimates and claims in the United States on the impact of money spent on influencer marketing include impressive figures not to be taken lightly or ignored. They are: a return of $6.50 on every $1.00 business spent on influencer marketing; the fastest growing and most cost-effective customer acquisition method; 51% of marketers acquire better customers through influencer marketing; 50% of marketers use influencer marketing to generate leads and sales; blogging is the top platform for influencer marketing, and 59% of marketers plan to increase their future budgets for influencer marketing.

How do you become a paid social media influencer in 2020?

Social media expert Brad Fleischman wrote that today’s influencer marketing is not only a trending phenomenon that everyone is talking about. “It has now become a primary marketing tactic and is no longer limited to just a few agencies or brands. In the present day and age, almost every key industry has depicted a rise in influencers. Becoming an influencer is so lucrative that it isn’t a surprise that every individual aim to be a social media influencer in their respective niche or domain.”

How much money do top global influencers make?

The average influencer can take home anywhere from $30,000 to $100,000 per year. Users with more than 1 million followers can make between $100,000 and $250,000 per sponsored post, according to a 2018 Vox report.

However, Instagram is the social media platform where the leading global influencers make serious money. The top earners recently published on the ‘Instagram Rich List 2020’ is Dwayne Johnson (@therock) earning $1,015,000 per post. Kylie Jenner (@kyliejenner) is a second at $986,000 per post. Cristiano Ronaldo (@Cristiano) comes in at $889,000 per post in the third spot and Kim Kardashian (@kimkardashian) clocks $858,000 per post in the fourth place.

Who are South Africa’s Instagram trendsetters?

Business Insider reports that South African influencers can get paid between R500 and R10,000 per Instagram post and celebrity influencers can demand even more. South Africa’s Mihlali Ndamase is rated the 135th highest paid global Instagram user and reportedly makes R25,000 per post. The other Africans who appeared on the worldwide list include Tiwa Savage, Candice Swanepoel and Anerlisa Muigai.

In terms of most followers, Boity Thulo is leading with 3,6 million followers, followed by Minnie Dlamini’s 3,5 million followers and Bonang Matheba with 3,4 million followers.

What is the next big social media platform?

Consider the social media platform with more than 190 billion downloads. It’s quite significant. Launched by Chinese developer ByteDance in 2016, TikTok presently has 800 million active users worldwide. Although controversial and recently banned in India TikTok is considered to be the next big social media platform used by adults and Generation Z followers alike. Launched by Chinese developer ByteDance in 2016, TikTok presently has 800 million active users worldwide.

So, what is the future of influencer marketing?

Forbes reports that it didn’t take long for the concept of mass influence to undergo a transformation – nano-influencers as a concept is the new effective way in which a brand’s targeted messaging reaches the loyal following of an influencer on a micro level. This group of influencers includes people with less than 10,000 followers. Working with the nano-influencers has become increasingly attractive for brands, because despite not having as many followers as macro-influencers, their interactions with their followers are more intimate. Loyal following has proven to be more sustainable for brands when coupled with an authentic voice.

The question now is, how are you and your brand geared to evolve, adapt and move swiftly to meet the challenges of the digital era? 

By Kobus Smit, Strategic Brand and Social Media Consultant