THE INFLUENCER EFFECT: SHAPING THE FUTURE OF MEDIA RELATIONS

by Antonia Enabosi                                                                                                10/04/2024                                                                                                                                           3pm UK Time

Rising trends in PR and management

An emerging trend in PR and management that senior management needs to be aware about is the rise in influencer marketing and the growing success rate of it. You may wonder, what is the extent of this influencer marketing craze. Now hear this: in 2023, the global market for influencer marketing was estimated to be worth a staggering $21.1 billion! That is over three times higher than what it was in 2019. How about that rapid growth! (Dencheva, 2023)

What's causing this rapid rise? It really is that easy. Influencers possess a unique talent for establishing a personal connection with their followers. People rely on their advice, whether they're recommending their favourite brands, offering beauty secrets, or offering fashion advice. Additionally, it's like winning the marketing jackpot when a brand collaborates with the right influencer.

What are the risks?

Sure, teaming up with social media influencers (SMIs) can skyrocket your brand's visibility and sales, but it's not all sunshine and rainbows. Here's the deal: many companies dive headfirst into influencer marketing without fully grasping the risks involved. One major issue? Reputation damage. Yup, you heard that right. If you hitch your brand's wagon to the wrong influencer—or worse, get caught up in a scandal—it could spell disaster for your company's image. (Sowery, 2024)

That is why before getting too close to SMIs, managers need to make sure they have done their research. You absolutely need to do your research, have a contingency plan, and be prepared to move quickly in the event of a scandal. Sometimes avoiding a problem is the best way to solve them :)

Is influencer marketing here to stay?

Influencer marketing is often thought to be expensive and should only be used by large national brands. However, "local" or small influencers' impact is also valuable. When considering some of Scale's more localised clients, a person who specialises in a specific industry (Home Renovation) or has a large local following can have a far greater impact - for a lower cost - on everyday consumers' decision making than a well-known celebrity. TikTok and other social platforms' creator and commerce programmes have made it possible to find influencers of all sizes and industries. (Sowery, 2024)

So, if you're a senior manager keeping your finger on the pulse of industry trends, you definitely want to pay attention to influencer marketing. It's not just a passing fad—it's a powerhouse strategy that's here to stay. And with the right approach, it could be the secret sauce that takes your brand to the next level.

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