Friday, February 19, 2021

When should a brand think about leveraging influencer marketing?

Have you ever scrolled through Instagram and saw one of your favorite celebrities, bloggers, or influencers sharing a product?  And five minutes later, you find yourself putting your credit card number in for that dress / leggings / hot sauce / workout device / etc.?  Influencer marketing has emerged in recent years as a new channel for social media marketing.  It is no longer a new channel, and many brands are thinking about how they can harness influencer marketing in a consistent and meaningful way.

My team was speaking with the company for our group project this week and they told us about a recent social media success.  They created a video of them packing in their warehouse and explaining their product, and posted it on TikTok.  The video went viral, mainly because it was reposted by multiple celebrities with strong followings.  This caused an influx of interest in the company's products, and they beat their yearly sales goal in one week in the first quarter.  This was totally unexpected.  So the question is - how do you harness that power, in order to be able to leverage it in a consistent way?

Brands should consider a few questions as they think about leveraging influencers to support their marketing efforts:

  1. Who are my target customers and who do they follow on social media platforms?
  2. How have peers in my sector performed using influencer marketing?  Where have they succeeded and failed, and what can I learn from this?
  3. How will I measure success of this campaign?

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