Friday, April 14, 2017

Harnessing The Power Of Influencer Marketing

As we work on our group project, we have to always be conscious of the budget available to us. We are working on coming up with digital marketing strategy for a fairly new start up with very little budget, which means we have to be very judicious about  where an how we spend the money and always look for ways to get the most out of each dollar we spend. A good marketing strategy that is relatively inexpensive is to leverage influencer's. After jogging my memory to recollect the lessons professor Kagan taught us on influencer marketing, I started doing more research on it.

Why does influencer marketing work? It works because we humans love a good secret; it is wired in our DNA. Which is why “Hey, have you heard about this?” gets our attention and we eagerly bend forward and listen, hoping to learn something juicy. We trust our friends in a way we don’t trust companies. Less than 30% of audience is influenced by traditional advertising, but when a buddy talks, 90%of us take their words at face value.

Social media influencers tend to have loyal and impressively large followers and connections. When they speak, those followers hear their words like you and I would hear the words of a trusted colleague. What happens when influencers bring brands into their active dialogues? Suddenly, the brand has tangibility and recognition, and that translates into economic possibilities you can take to the bank.

Rapid growth of social media has removed the middleman and media is no longer controlled by few companies. Every day, content is being commoditized by individuals who are content creators themselves. The appeal of influencer marketing is the built-in audience and the short time it takes to get the word out

Anybody looking for better ROI? The cost of a 30-second television ad is around $400,000. By comparison, influencer marketing campaigns cost a fraction of the cost for a TV ad.

While influencers may be working for your brand their audiences see them as authentic, fresh, real and passionate. Create a genuine relationship with an influencer, and anything the influencer says or does on behalf of your brand will come off as genuine

Cheap, passionate, genuine message, quick turnaround, direct access to built-in audience – need I say more about the power of influencer marketing!

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