Influencer Marketing and Evolving Brand Image Strategies Impact on Startup and Digital Businesses’ Growth

Abstract

With Web 2.0, companies have started to exist in the digital world where mutual interaction has emerged where businesses may advertise their goods and services, engage with their target markets, reach bigger audiences, and develop a positive brand image among consumers. With the developing technology, the product difference and the existence of many brands intensify the competition between the brands. Social media strategies must be used in order to stand out in this highly competitive environment, build a positive brand image among the target audience, and distinguish oneself from rivals. The influencer marketing strategy has become one of the most popular in recent years on social media. Brands have started implementing a marketing strategy that focuses on influencing the purchase behavior of the audience which they targeted after realizing that users with great followers have the capacity to influence millions of individuals. Influencers who can affect personal views and preferences have a devoted following because they are able to engage with the target audience, arouse desire in them, and enable them to take action to purchase. The influencers' audience gains from their experiences, believes, and trusts their opinions, and as a result, conducts purchases. Brands may enhance their image, raise brand recognition, and generate organic conversions with the appropriate strategic alliances. This study's objective is to determine influencer marketing, which is one of brand image strategies, has an impact on a company's growth. After literature review, the researcher conducted an interview with 7 experts in the field of influencer marketing in order to gather data, which was then assessed. These results lead to the conclusion that influencer marketing techniques have beneficial effects on brand image while building brand image, they affect business growth, but some strategy flaws can damage this image.