Influencer marketing has become the new norm of advertising products. As time progresses, companies shift from marketing on billboards to influencers. Huge influencers, such as the Kardashians, are able to sell out a company's products instantly. Companies would even go on shows such as Shark Tank to pitch their product in hopes of getting funding or go on the show just to show off their product.
Economic Boost
The influencer market is valued at 21.1 billion and will continuously grow as social media continues to grow. The benefit of becoming an influencer is having a large pool of sellers who are willing to sponsor them. Being an influencer is having the same privileges as a celebrity such as being invited to host events and attend events to network with influencers. Tiktoker Charlie D’Amelio blew up in March 2020 and gained main sponsorships such as Nickelodeon and Dunkin Donuts. She is one of the more successful influencers who was able to stand out in a competitive market.
The Use of Tiktok
TikTok, with its short-form video content, has emerged as a powerhouse in the influencer marketing landscape. The platform's algorithmic prowess enables content creators to rapidly amass followers and garner attention. TikTok influencers wield significant influence over the app's predominantly young user base. The app has birthed a new wave of digital creators who, unlike traditional celebrities, often rise to stardom seemingly overnight. Brands are quick to recognize the potential of TikTok influencers to authentically connect with audiences, prompting a shift in advertising strategies towards this dynamic platform.
The TikTok influencer economy not only benefits content creators but also contributes significantly to the overall economy. With the influencer market valued at 21.1 billion, businesses are keen to invest in collaborations with TikTok stars to promote their products or services. This symbiotic relationship not only provides influencers with financial gains but also offers companies a unique and direct channel to reach their target demographics. The economic boost is not limited to sponsorships; it extends to ancillary opportunities such as event hosting and attendance. TikTok influencers, akin to traditional celebrities, find themselves in demand for hosting and attending various events, leveraging their online fame to create offline opportunities for networking and brand promotion.
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