Social Media Followers:  A Look at the Influencer Economy

| June 15, 2018

The social media influencer landscape has changed

Social media isn’t what it was before. And neither does online business work as it did before.

It seems an eternity when Orkut first opened, giving us a glimpse of socializing in the virtual world. Since then, social media platforms has developed to ensure that it is a lot more than just a place to interact with friends.

For instance, it is also a place for businesses to engage with their audience, and build brand credibility.

The latest trend is to get more followers, likes, comments and shares. In fact every business needs it, whether it be one offering a service or a good. And businesses also need people to talk about them on social media – a place where the influencer economy comes in.

For businesses, people with higher followers are considered to be more influential as they can reach out to a wider audience on their own.

How is the Influencer Economy Affecting the Social Media World?

Social media is a great platform for budding artists as well as budding entrepreneurs.

Corporates and enterprises want to leverage in on getting new traction by employing new marketing techniques like influencer marketing.

The principle is simple – if they get people with a higher value – read more followers of their own – to talk about their brand, they could reach out to more people without having to spend tons on advertising.

It’s word of mouth publicity, in a new reimagined way.

The higher number of the followers, and better the review of the brand, the better would it be for the brand image and popularity.

The influencer economy helps businesses introduce their products in new ways – and helps them target influencers. It is with the help of these influencers that businesses aim to get more ROI. Often, they could give in a trial of their service of good to the influencers and ask for a positive review.

How does an Influencer Marketing Campaign Help?

Most of the times though, the reviews are all natural. The company aims to build on these influencer campaigns to drive in positivity about the brand and in turn, be able to withstand the global competition.

The Problems in the Influencer Economy

As long as you have genuine positive reviews about a brand from these influencers, it is great. However, that doesn’t happen always – to gain a competitive edge, brands are using fake accounts to affiliate the product or service and increase their brand image.

It may not work in the long run as fake followers don’t really add in to brand value, but it does offer some benefits in the shorter run, creating a false impression of legitimacy. And for a business looking to grow, it does count.

Facebook admits that there are fake profiles in the platform, and are continually ensuring that they are weeded out. Twitter too, it should be remembered, recently admitted that 15% of its users are not real people.

While the influencer economy is here to stay, social media platforms need to do more to ensure legitimacy to protect consumer interests.


Category: Special interest

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