Today, Instagram is flooded with influencers. So much so that there has become a categorization of influencers dependent on their reach or number of followers who follow them on their Instagram handles.
We’ve got the likes of Mega-influencers with more than a million followers, Macro-influencers with 500K to 1 million followers, Mid-tier influencers with 50K to 500K followers, Micro-influencers with 10K to 50K followers and Nano-influencers with 1K to 10K followers.
But how influential are these influencers really? Influencers are likely to be considered as opinion leaders and owing to their reach and engagement, they endorse a lot many products and services which are promoted through their platform. Influencers earn through a lot many avenues and one such famous avenue is affiliate marketing.
Facts and Figures
As per a survey conducted by Statista, the percentage of individuals who have bought products after being influenced by the advertisements done by influencers has gone up to over 30% in our country. India lies third in the list of top countries being influenced to buy products via influencers. Brazil tops the chart and China comes in second. The list continues after India with Mexico, Italy, South Korea, Russia, Germany, The United States of America, The United Kingdom, France and Japan respectively. Apart from Mexico and China, all countries show that the influence in buying products by individuals has either been the same or increased from 2019 to 2021.
Individuals are a lot more privy to buying products online under the influence of social media influencers, especially those who they loyally follow as the way that the products are being marketed is a lot more authentic. Influencers take utmost efforts in blending these product promotions through the content they put out on their page while also communicate the benefits and value of the product they are promoting.