As the global population grows past the 8 billion mark, brands serving consumers and fellow businesses have felt the pressing need to keep themselves exposed to the limelight for obvious reasons. The advent of the Web3 space has also made it essential for entrepreneurs to adopt the model to stay relevant to the technologically-evolving world. While promotions are a way to ensure widespread attention, not every strategy has worked optimally in 2022. Yet, influencer marketing, one of the most underrated marketing tools used by marketers, has shown signs of improved engagement and has been projected to do so in 2023.
Influencer Marketing: An Overview
Generally speaking, influencer marketing is a promotional strategy where people with a massive social media following talk about your brand’s products or services through various content forms on different platforms. The method originated in the late-2000s when the internet started reaching more households, and you might be amazed to know that bloggers were the first influencers.
Fast forward to 2022, there are an array of social media platforms apart from self-run blogging platforms for influencers to thrive. Additionally, the tactic has elevated to the level of a full-time job, from being an excellent way of earning income on the side.
“People do not buy goods and services. They buy relations, stories, and magic.” – Seth Godin, Marketing Guru and Author.
Some Interesting Stats for Influencer Advertising (Ft. 2022)
- As we near the end of 2022, influencer marketing as an industry is expected to garner around US$16.4 billion as revenue, mainly attributed to short video content forms.
- Brands (in and outside Web3) have preferred Instagram to unleash their influencer promotional strategies due to the platform’s increasing popularity and image-first nature.
- 93% of marketers (including in-house employees of Web2/Web3 firms and marketing agencies) have utilized influencers for their advertising campaigns.
- 61% of consumers tend to trust influencers’ recommendations, mainly due to them keeping things natural and unbiased, compared to sponsored ads from businesses themselves.
- Almost 62% of reach for influencer-powered promotions for projects has come from blogging portals (37%) and Facebook (25%), in spite of the growing fame around video-centric applications.
Reasons Influencer Advertising Should be Trusted in 2023
- The number of influencers is growing! Yes, with social media becoming accessible to all, almost everyone becomes an influencer. It is basically enough for one to talk about their expectations or experiences with a Web3 project to gain views. But, with this evolving into an alternate career option, trust is undoubtedly increasing in the strategy.
- Influencer marketing agencies (like Blockchain App Factory) are becoming famous! For Web3 projects with small teams or lesser knowledge of the promotional part, agencies like ours are precious presents with their repository of niche-based influencers.
- The scope for content expression is huge! Although the strategy began with blogging, Facebook, Instagram, Twitter, YouTube, LinkedIn, TikTok, and Reddit have given influencers choices. The prominence of video content in recent times conveys how much content expression has evolved.
- Influencers show their natural lives! Gone are the days when influencers appeared only to promote businesses and offer only the perfect pages of their lives. With more maturity among the public, they have found the need to express themselves honestly. Such an approach creates meaningful connections with their followers, in turn increasing success rates for their promotions.
Understanding the Importance of Influencer-powered Adverts
Promotions featuring influencers have gained prominence in recent times owing to technological evolution in the last two decades. With users getting a variety of choices (this applies even for real-world products, not only Web3 projects), brands that ensure personalized adverts reach their target audiences tend to succeed more than others.
Influencers give a boost to such ventures’ aspirations by engaging followers in a personal tone, enabling them to promote Web3 projects that could reap significant returns. The fact that most influencers do their own research before committing to a Web3 project so that their reputation is preserved in the long term.
Strategies for Promoting Your Web3 Venture Through Influencers
- Fixing the goals and key performance indicators (KPIs) for your Web3 venture is the first step in the influencer marketing process. There are a few ideas to apply while doing this to achieve massive success, as given below:
- Build your brand awareness by partnering with influencers, as your business will be exposed to thousands of people through minimalistic content forms that work efficiently.
- Garnering the attention of new target markets becomes easier using niche influencers as they will have more followers, including those you did not consider as targets.
- Generating traffic and leads is the mighty attribute of influencer marketing, as establishing trust among Web3 community members becomes easier by channeling your promotions.
- Comprehending the influencer ecosystem in 2022 is vital as trends change within a matter of time, and tapping into those can be ideal for upcoming Web3 businesses to thrive. It is also essential to analyze whether you need to work with micro or macro influencers based on your niche.
- Form a partnership with influencers who incline with your Web3 venture’s interests and missions. It is better if you can work with multiple influencers with differing levels of follower count to “influence” the community without getting overboard.
“Working with influencers, to co-create content, delivers value and can inspire audiences to take action.” — Amisha Gandhi, VP, Influencer Marketing, SAP Ariba.
Blockchain App Factory: The Hub for Web3 Influencer Promotions!
If you are a Web3 entrepreneur with a new, novel project in your hands and want to garner community support, it is best that you work with Blockchain App Factory’s influencer marketing wing for optimal results. Our seasoned campaign managers can help you sort out your influencer promotions from start to finish using an ever-growing network of influencers across various Web3 niches. More reasons to opt for us for your venture include:
- Experienced Marketing Team
- Creative Consultants
- Profound Knowledge in the Web3 Space
- Ever-growing Repository of Influencer network
- Budget-friendly Marketing Campaigns
- Support at All Times
- Strategy-driven Promotional Campaigns
If you are interested in knowing more about putting your Web3 venture to the main stage, fill out the form below to get a callback from one of our professionals.