23. What is Influencer Marketing?

I am pretty sure most of you know about the watch brand 'Daniel Wellington' or at least seen one on Instagram. And I am pretty sure you must have thought that it looks like an expensive luxury watch brand. Well, the truth is that it isn't. It's just a cheap watch that is sold expensively and the company makes $200 million a year by doing so. Confused? Well, that's the power of influencer marketing.

All Daniel Wellington did as a part of their marketing strategy is get Instagram influencers to promote their watches on their profiles and shared a part of the profits made for every sale through them. And on their roster of celebrities/influencers, they have the likes of Kylie Jenner (225m followers) to local artists and celebrities with a few thousands of followers. And by using these Instagram influencers they created a market for their product, something which was not seen before in this manner.