The market volume of influencer marketing worldwide is rapidly increasing. In 2019 alone, the global influencer marketing market was estimated to be worth over $8 billion. This number is expected to double by 2023 and reach over $15 billion.
The popularity of influencer marketing is driving this growth. Influencers are seen as trusted sources of information and can reach wider audiences than traditional forms of marketing. As a result, brands are increasingly investing in influencer marketing to reach their target audiences. The growth of influencer marketing is also driven by advancements in technology and the widespread adoption of social media.
Social media has allowed brands to easily connect with influencers and reach a global audience. Additionally, technology has allowed influencers to track success metrics and measure the effectiveness of their campaigns. With the market volume of influencer marketing continuing to grow, it’s clear that this form of marketing is here to stay. As brands strive to reach their audiences and create meaningful connections, influencer marketing will remain an important part of their marketing strategies.
But there are numerous reasons why brands try to build their own communities instead of relying on influencers.
First, brands want to establish an authentic connection with their customers. Building their own community allows them to have direct control over the conversations, messaging, and content. This helps to create a genuine connection and build trust between the brand and its customers.
Second, building a brand-owned community allows brands to have complete control over the data they collect. This data can be used to improve their products and services, as well as to create more targeted marketing campaigns.
Third, building their own community allows brands to have complete control over the customer journey. They can create a unique customer experience that is tailored to their needs and expectations.
Finally, building a brand-owned community is more cost-effective in the long run. While influencers can be a great way to spread awareness, they can also be expensive. By building their own community, brands can save money in the long run and have more control over their marketing strategy.
Whether with the help of influencers or with your brand-owned community - In the world of digital marketing, it's all about knowing your audience and targeting content to them. Your audience is the key to your success, and understanding who they are, what they want, and what they need is essential. Understanding them allows you to create content that resonates with them. This can be done by using tools to get a better idea of their DNA
Once you know who your audience is, you can tailor your content to them. You can create content that is relevant to their interests, that solves their needs, and that resonates with them on an emotional level. Finally, you can target your content to your audience through the use of segmentation.
This means grouping your audience into different segments based on their interests, demographics, and behaviors. At the end of the day, it's all about knowing your community and targeting content to them.