Influencer marketing is growing exponentially these days. Many brands are using celebrities, social media influencers and thought leaders to propagate brand awareness. It’s not mainly exposure they want but the conversions that come from the power of association.
This form of marketing in which focus is placed on specific individuals rather than the target market as a whole is known as ‘influencer marketing’ or ‘influence marketing’. It identifies the individuals that have influence over potential buyers, and aligns marketing activities on these influencers.
Forbes mentioned in their recent article, “a recent survey revealed 84% of marketers plan on executing at least one influencer marketing campaign during the next 12 months.”
If 84% of marketers in the world include influencer marketing in their yearly plans then Influencer marketing is evolving at a very fast pace. Most small businesses and boutiques are willing to spend chunks of money for a social media influencer with a considerable number of followers. This is because buyers are mainly influenced by association more than paid advertisements for brand awareness.
A friend can buy something because his/her friend has it too. Think of children who cry for toys that relate to their favorite film actors such as spiderman, superman or even John Cena in wrestling. From peer pressure to hero worshipping, many people can attest to the fact that association plays a major role in buyer decision.Influencer content can be testimonial advertising whereby an influencer can play the role of a potential buyer.
There are different types of marketing influencers which include:
- Activists: influencers get involved, with their communities, political movements, charities and so on.
- Trendsetters: influencers tend to be early adopters or leavers in markets
- Connected: influencers have large social networks
- Brand ambassadors: influencers are trusted by others to endorse a brand
These influencers possess different attributes such as:
- Entertainers: thrive on engagement and inspiration
- Educators`: thrive on helpfulness and insightfulness
- Charismatics: thrive on insightfulness and inspiration
- Coaches: thrive on helpfulness and engagement
Even though influencer marketing is fairly new, most companies are now realizing the importance of it. It’s a world of possibilities which enables brands to connect with consumers more directly.
Tweet this: When a celebrity uses a certain product, the fans will most likely use the same product.
There are many reasons why companies believe influencer marketing is evolving. The following are some of them.
Influencer to consumer-induced marketing is powerful
The word of mouth by an influencer is more powerful than paid advertising. A study by McKinsey found that, “experiential word of mouth is the most common and powerful form, typically accounting for 50 to 80 percent of word of mouth activity in any given product category.”
Sales acquired through word of mouth have a 37 percent higher retention rate compared to paid advertising. With influencer marketing, companies have a big opportunity to leverage on the power of word of mouth through personalities that consumers follow and admire.
It’s social and generates sales leads
The advent of social media, allows companies to utilize the power of social media to expand their brand awareness and generate more sales. It is crystal clear that the world has shifted to social media. Businesses that utilize social media to market their products are expected to do well. A new report from Salesforce found that 70 percent of brands are increasing their social media spend each year.
3. Consumers are tired of paid advertisements
According to research firm Yankelovich, the average American is exposed to 5,000 advertisements a day. As a result, consumers run away from a bombardment of advertising that clogs their minds everyday and resort to a trusted second opinion. Mostly consumers look up to their role models. Influencer marketing become the most practical way to reach to consumers in a more effective way.
4. It helps your (Search Engine Optimization) SEO
Most consumers spend their time online searching for trusted materials due to ad mixed messages they are faced with daily. Influencer marketing helps your search engine ranking. The Social Media Revolution stats #29 said, “93% of marketers use social media for business and user generated social posts account for 25 percent of search results for the world’s top 20 brands.” Associating with an influential personality enhances the top search ranking of your brand on search engines.
Consumers want value for money
Consumers mainly like value for their money. Influencer marketing becomes a more trusted advertising channel which creates a safety buying net for consumers . They get skeptical when continuously bombarded with paid ads from various competitors. Influencers become the only trusted source of product evaluation. This is because consumers already relate to the personalities who already have a high degree of likeability. It follows that, when a celebrity uses a certain product, the fans will most likely use the same product.
From the above, we can see that influencer marketing is all about harnessing the power of association and creating value for money for consumers. Brands which are associated with popular individuals or corporations gain significant mileage in brand awareness. One such brand is Procurementexpress.com which is associated with renowned organizations such as Gravitational Marketing, Amach Software and UNICEF and is aimed at saving users 10% of their total spend.
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