Marketing is changing. As our lives shift away from newspaper, radio, and TV ads, many of us are left staggering behind, struggling to retain our market share and failing to keep up with marketing trends. Our conventional marketing tactics are being hindered, blocked by developments of software like “ad-blocker” on internet browsing sites. Companies and brands are being forced to think of new and innovative ideas, to think outside of the box, in hopes to stand out from mundane ads like that of Facebook banners and web advertisements; this is solely because people have been totally ignoring them.
Companies are finding it increasingly difficult to market their products in the millennial age, largely due to the fact that they do not have the proper approach to tackle the changing market. As the tech-world’s knowledge of social media grows, new strategies are being formed to incorporate social media into advertising. One of the more prevalent tactics is that of influencer marketing. Influencer marketing has made its way into the scene around 2015 and has the potential to take a company to the top. This technique has the ability to save thousands of dollars on marketing, while gaining significant brand recognition in the process. We know this sounds great, but people are left feeling confused and unsure about the process, simply because they do not fully grasp the concept of it.
Influencer marketing is a new form of marketing focused on using key individuals, AKA influencers, as the medium to reach one’s target audience. Instead of launching pricey ad campaigns aimed at a broader consumer audience, influencers can be sought out to do the advertising for you; hitting the exact audience that needs the product. The individuals that are chosen for each specific campaign are selected based on their control over the specific audience, consisting of their followers and fans that they interact with. If fans see their favorite celebrity using and enjoying a product, it will spark an interest or excitement in them to acquire this product for themselves.
It is important to note that one of the fundamental reasons that influencer marketing succeeds is because the influencers already have the attention and recognition that the companies and brands desire for themselves. So, instead of having an entire team running internal public relations and marketing, you simply contact the renowned influencer who has a large voice and ask -or pay- them to endorse your product. The influencers already have the power and attention, so it is more resourceful to get on board with them than it is to put up a billboard on a subway that thousands will neglect. After all, these individuals are called influencers because of the effect and control they have over potential buyers and consumers. This power is being used by several brands already, and influencer marketing is beginning to make its way through into our everyday lives- sometimes without us even noticing it.
Take the recent detox tea phenomenon for example. There have been teas geared for detoxing and nutrient supplementation in production for ages. It is only until the likes of high profile celebrities, Nickelodeon stars, and healthy food bloggers posted photos of themselves interacting, using, and promoting the tea to their millions of followers, that the craze began. That, right there, is influencer marketing. A good influencer marketing campaign is one that places the product directly into the hands—or social feeds—of the consumers. What makes this tactic of influencer marketing so effective is that you already know who the audience is beforehand. There is no speculation and there is no doubt. With the demographic data breakdown available and up to date, the results are always satisfactory.
However, without the proper research and data analytics, an influencer marketing campaign can go catastrophically wrong. In our next post, we will share and discuss the necessary data and research that should go into planning a successful influencer marketing campaign.
Using SMV, you can calculate ROI against actual industry-vetted figures. This helps you make data-driven decisions as to the performance of your campaign, and how to optimize future campaigns.Read More