Influencer Marketing – Latest way to boost your business!
Influencer Marketing – Latest way to boost your business
Learn more about influencer marketing and how you can use it effectively
Marketers spend a lot of time to find out creative and the best ways to market their business. In the era of changing digital marketing world, Influencer marketing is the latest of them. Even though Influencer marketing has started way before, it gained much popularity in the past few months. And the reason behind this is nothing but the development of social media. Social media platforms had grown beyond a level of social interaction. The platforms offer plenty of opportunities to promote, ideas and business. The social media giants developed algorithms to support the cause. Facebook ads, Whatsapp for business, Instagram for business etc. are the examples. Influencer marketing, particularly speaking, micro influencer marketing can do wonders in the digital marketing if done right.
What is influencer marketing?
There are many people in Social Medias who gained a large follower strength through their work. A large number of social media users adore and follow them based on their work. Photographers, fashionistas, cartoonists, bloggers, artists, the list of categories go on. They aren’t actually celebrities, but common people with a fan following or influencing power. Popularity aka fan following is not the only criteria. Unlike celebrities, influencers can be Influencer should have a certain expertise in their domain. Bhuvan Bam of BB Ki Vines is a YouTube Influencer in India; PewDiePie, an international YouTuber is another example; we can see many examples like that in the various social media platforms. Influencer marketing is the marketing technique where these influencers promote the idea or product of your business. These promotions can actually ‘influence a lot’ to try out your product.
Celebrity Endorsement vs. Influencer Marketing
The conventional idea of a brand promotion is celebrity endorsement. Companies pay celebrities to act in ads or campaigns for endorsement purposes. But the problem is that people know they are paid to do so. They doubt the authenticity of the endorsement. They know the celebrities don’t use the product and will have very less influence. Celebrity endorsement is using the name and fame associated with the celebrity to promote the business.
Influencer marketing uses the same idea in an entirely different perspective. The millennial generation is more inclined to those social media influencers rather than the celebrities. These people on a very large basis influence the today of us. People feel the social media influencer promotions are genuine and will be convinced to try out the same. This is the key to influencer marketing.
Micro influencers are those who have comparatively small reach, but high credibility. When they endorse a product, people ought to believe it and will provide a greater ROI. The micro influencer marketing not only multiplies the business but also boost it exponentially. This contextual credibility is important when you select the influencer to tie up. The person must be related to your product in some way or other which depend on your product.
Influence the Influencer
As already mentioned, the social media influencers earned their position is a hard way. At a slow pace, one at a time. They will do nothing that goes against their image and credibility in social media. Hence, it is important to convince the influencers with the quality of the product. Another advantage is that influencers do market your product with more intensity. They no more feel that they do post it because they are paid to do so; rather they are genuinely satisfied with the product. That brings in more impact.
How to develop an Influencer marketing strategy?
The marketing isn’t simply posing with your product, taking a picture or selfie and posting it on social media with a simple tagline. No, it doesn’t work so. Influencer marketing is much more than that. The product placement must be genuine enough. It shouldn’t look like a forced one. An influencer can promote the product by following methods
- Simply use the product, create posts and promote
- You can provide coupons so that the influencer can create an urge to buy the product among the followers.
- Interact with the followers using polls and other methods to create an awareness
- Create trendy hashtags and promote it
- Placement of products in the social media posts in a subtle way.
- Product reviews/unboxing videos etc.
One should focus on informative/product awareness/trend creation rather than ad placement. Marketers along with influencers should actually sit down and discuss the content of social media posts.
Instagram being the most popular influencer marketing platform relies greatly on the hashtag. However, Facebook doesn’t seem a very good platform for influencer marketing. It is important to choose the platform wisely for marketing. Snapchat won’t be such a good platform if your product is a software, but a micro influencer who tweet can help you.
Monitoring Influence marketing
When you invest in Influencer marketing, it is also important to monitor their works, analyze and re-strategize if necessary. Various tools will help you to track the progress of Influence marketing. Traackr, Dealspotr Marketplace, Klear etc. are a few of them, which will help you to find and monitor the performance of influencers. These monitoring tools help you to increase ROI.
There is a large pool of influencers are available in social media. Brands will have lower barriers to enter influencer marketing. You can even tie up with influencers with less than 10,000 followers. It is not the follower count that actually counts but the ability to influence people. The larger pool will give you the option to increase ROI in a multitude rate. The problem with the conventional ad placement is that it can’t guarantee the context of ad placement. I remember watching the ad of Zomato while the video inside had product placement of Swiggy. No marketer wants such irony when it comes to ad placement. Influencer marketing is a much safer option in cases like that.
Influencer marketing has an 11x of ROI than conventional methods of digital marketing. When the millennial social media users rely on their favorite social media figures for anything and everything in their life, it is wise to invest the same.
I believe this article helps you to understand the topic ‘Influencer marketing ’. Share your doubts and views in the comment section.
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Meta description: Influencer marketing is the most modern trend in digital marketing. Unlike celebrity endorsement, influencer marketing has a much higher return on investment. Popularity is not the only criteria for selecting an influencer, but their ability to influence. Trust upon them is used to boost your business.
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