Influencer marketing reigns as the premier method to engage the crucial millennial and Gen Z demographics. Approximately 70% of teenage YouTube subscribers express trust in influencer opinions over those of traditional celebrities.
So, let’s start this off with a brief revisit of Psychology 101. Because this is going to help inform the value of Influencer Marketing from a humanities perspective. Maslow’s Hierarchy of Needs is the immediate go to guide when discussing Influencer marketing. Influencer Marketing directly speaks to two aspects of the pyramid of needs one’s self-esteem and love and belonging.
Our self-esteem needs are about feeling good about ourselves, comprising two components: self-confidence and feeling valued by others for our achievements. When these needs are met, people feel confident and recognize their contributions as valuable. Failure to meet these needs can lead to feelings of inferiority.
Maslow identified the need for love and acceptance as the next in the hierarchy. This involves romantic relationships, family ties, and belonging to social groups, encompassing both receiving and giving love. Research shows that fulfilling these needs is linked to better physical health, while unmet belonging needs can lead to negative consequences for well-being.
Why does this matter for Influencer Marketing?
Social media is deeply ingrained in our lives, influencing many of our decisions. With decision-making often feeling burdensome, people seek shortcuts, turning to influencers for quick reviews, behind-the-scenes insights, and usage breakdowns. Influencers have gained unparalleled trust, surpassing traditional media, digital ads, and celebrity endorsements. This success stems from various factors:
Authenticity:
Authenticity is the cornerstone of effective influencer marketing. Consumers can quickly discern insincere endorsements, damaging both the influencer’s credibility and the brand’s reputation. Genuine passion from influencers for a product or service leads to captivating content that deeply connects with their audience. This authenticity not only enhances engagement but also bolsters trust in both the influencer and the brand.
Brand Awareness:
Influencer marketing elevates brand visibility and extends reach by connecting with relevant audiences. Engagement rates with influencer posts surpass those of paid search ads, offering a cost-effective strategy with greater return on investment compared to traditional marketing methods.
Boosting brand trust and credibility is where influencers shine. Their authentic and relatable content resonates with audiences, fostering trust that surpasses the skepticism often associated with brands’ overly pushy or irrelevant social media ads.
Trusted Source:
Collaborating with influencers offers a solution. When these influential voices promote your brand story and products to their highly engaged followers, it’s like receiving a stamp of approval. If influencers trust the brand, their audience is likely to follow suit. It’s no wonder that 63 percent of brands are increasing their influencer budgets for 2024 with a higher ROI than paid ads.
