Products from places such as Fashion Nova, Sugar Bear Hair, Dietary Teas, and others have been at the center of the growing impact of Social Media and its 'influencers' in the marketing strategies of companies, and in turn, the economy as well.This industry is now worth almost $2 billion, and in 2021, this industry is projected to reach numbers as high as $5-$10 billion. Those who build a large presence and following on social media sites such as Instagram are considered to be influencers as they build a sort of support system of followers and fans due to their posts regarding lifestyle, jobs/hobbies, clothing, or even their stories. This personal connection that social media platforms foster between the influencer and their followers helps this sort of system to be successful.
Businesses utilize these influencers to promote their products to their target audiences. For example, fitness brands will recruit and sponsor fitness influencers and lifestyle or clothing brands will do the same. Previously, influencers promoted products in exchange for a gift or a product from the company. However, this aspect has now changed into exchanges of gifts as well as monetary charges. In fact, Kylie Jenner, one of Instagram's biggest influencers with over 140 Million followers, reportedly makes about $1.2 Million per sponsored post on the site.
This strategy works as this style of marketing allows brands to reach their target audiences in a more genuine and personal way than traditional means of advertising such as billboards or paid ads. This is because rather than businesses directly selling and promoting their products to their consumers, they build relationships with influencers that already have built that specific connection with their followers. In turn, this system allows brands to pay influencers instead of traditional advertisements to promote their products as followers of the influencer would more likely purchase something recommended by someone they follow or look up to. It's kind of like asking a friend for help choosing a certain product.
However, even with the significant profits that come with the emergence of this marketing strategy, there are still some concerns. For lifestyle influencers such as Kylie Jenner, many of their followers tend to be younger girls, and by promoting products such as dietary teas and supplements, it could be harmful towards their supportive audience. Additionally, with the growing number of sponsored posts, influencer pages could begin to seem less genuine if their posts are the majority of their content. Therefore, while there is definitely a lot of potential in this new marketing strategy, it is important to notice the possible harms that can and have emerged.
Sources:
https://qz.com/1708956/the-benefits-of-the-influencer-economy/
https://www.hopperhq.com/blog/instagram-influencer-marketing-2020/
https://www.allure.com/story/kylie-jenner-how-much-paid-per-sponsored-instagram-post
Living in a society where social media is almost a necessity for some, I think that this is important to address. It was interesting to learn about the specific ways influencers make money, in which we can use to be more mindful about our social media habits. Ultimately, we are the ones who choose to support these social media influencers, which I think should be more transparent about the influencer economy. As you mentioned, there are many negative effects toward influencers, which can really harm others. It is important for us as a society to learn more about the effects regarding influencers.
ReplyDeleteSocial media is a great way for companies to advertise their products but, like you mentioned, there are many negative effects that are overlooked. The companies' main focus is the amount of revenue brought in from the influencer, and the influencer's main focus is the amount of money they get from the sponsor. This leaves little focus on how products like dietary pills affect a young audience. As viewers, we should be more aware of the negative effects and not like or support sponsorships that can be harmful.
ReplyDeleteEven though I'm on my phone all the time, I've never really thought about how all the marketing stuff works. It makes sense, now that you've laid it out. Whoever started it is very clever because companies are basically just taking advantage of people's loyalty to these influencers. In turn, these influencers get free advertising. It's a perfect system, but it can be damaging both ways. It's a fragile connection based upon personal relationship so if the influencer is someone like James Charles and all of a sudden, he becomes shamed in the social media world, it looks bad for the companies, and vice versa.
ReplyDeleteI think it is important to consider the balance: how to keep the influencer's account a personal account and not an ad's catalog. I think the mutualism at work is very interesting, I wonder how the third party (traditional advertisment companies) are being impacted by the rise of influencers and social media. I appreciate the ethical question you put into place, it is concerning that someone who already has that much money would endorse a dietary product, unless maybe that is the type of product they would hope to be associated with. The influencer in a way is a brand too, and what products they endorse impact that.
ReplyDeleteI loved that you touched upon the negative consequences of influencers helping to market products to their audience. It's crucial that producers understand their target audience, however, when using influencers to pass the message along, often times it could lead to ethical issues. Especially in today's age where social media is at the center of most people's lives, it's definitely smart to make connections with influencers so their product will seem trendy and relatable. However, where is the line between smart advertisement and adding to social pressure?
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