Over the last few years, the way brands communicate with customers has shifted dramatically. Relationship marketing – particularly influencer marketing – is gaining a leading role in how firms sell their products and services as market rivalry continues to expand across industries and customers have more purchasing options.
Influencer marketing isn’t a passing trend. Because influencer marketing works, brands continue to improve and expand their usage of it. Companies gained an average of $6.85 for every $1 spent on blogger influencer marketing, according to the graph below. Teens are more willing to buy things supported by YouTube stars than they are by Hollywood superstars, according to a Variety poll.
In short, individuals that efficiently use influencer marketing gain significant financial benefits. This article will help you better grasp the why, who, and how of influencer marketing in 2016, so you may take advantage of this trend in your own marketing campaigns.
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What is influencer marketing and how does it work?
Influencer marketing is the process of identifying trusted persons with a large following and targeting marketing efforts at them in order to gain publicly visible endorsements for a company, service, or product.
Influencer marketing tactics target specific people rather than the entire market. These influential people are well-liked in their areas and have a large and engaged audience. People pay attention when these influencers speak.
A firm can significantly enhance brand exposure, credibility, and revenue by bringing a brand, service, or product in front of these individuals’ audiences and gaining their direct support.
Most influencer marketing programs combine social media marketing and content marketing tactics, with the goal of developing brand credibility through a sequence of influencer mentions, compliments, and reviews. Companies obtain a degree of awareness that is much tougher to come by on their own when they receive word of mouth marketing from respected thought leaders.
Influencer marketing campaigns are used by brands to achieve a variety of goals, such as launching a new product, spreading a message virally, improving brand awareness, and communicating major milestones.
When a message requires a large amount of exposure, utilizing an influencer’s network can be extremely advantageous.
What is the definition of an influencer?
“The capacity to have an effect on the character, growth, or behavior of someone or something, or the effect itself,” according to the Oxford Dictionary. Someone who has the ability to influence the character, growth, or behavior of others is referred to as an influencer. They are the ones who are determining their communities’ futures.
An influencer is a member of a community who is active, well-connected, and well-liked. They are individuals whose thoughts and actions influence the course of a business or community.
Politicians, notable authors, movie actors, and other entertainment were among the most common influencers in the past. Bloggers, forum and website owners, YouTube stars, and social media specialists are all examples of influencers today. Some of these non-traditional superstars have greater clout than established “genuine” Hollywood or Broadway celebrities.
How do you know whether someone is influential?
Everyone is an influencer in one form or another. Most people have acquaintances at home, work, or in their communities who respect their input on at least a few topics. However, we would not consider these individuals to be influencers. So, how do you know if someone is influential?
The most typical technique to determine someone’s sphere of influence in the field of online influencer marketing is to look at a range of KPIs such as reach, views, and engagement rates.
A blogger influencer with over 250,000 monthly visitors is considered in the top 5%, 25,000+ monthly visitors is considered in the top 10%, and 2,500-25,000 is called a power-middle influencer. This traffic volume may be higher or lower depending on your niche.
Whatever KPI you’re evaluating, there are a few characteristics/qualities that all influencers share:
- Personal branding is a specialty of influencers.
- Influencers can mobilize opinions and elicit reactions, according to 79 percent of marketers.
- They are good public speakers who have excellent interpersonal skills and are charismatic in some way.
Most importantly, they are experts in their disciplines and have a genuine interest in the topics they discuss.
If a blogger, YouTuber, or social media expert possesses the characteristics listed above, you can be confident that they are a thought leader and influencer in their field.
How B2B and B2C marketing tactics benefit from influencer marketing
Influencer marketing is effective in a wide range of markets, including both business-to-consumer (B2C) and business-to-business (B2B).
The majority of purchases in the B2B industry are based on peer ratings and opinions. In fact, according to Demand Gen Report’s 2014 Material Preferences Survey, 72 percent of respondents said they go to industry peers for B2B purchasing decisions when seeking relevant content. Because most B2B purchases necessitate a significant amount of study, evaluations and suggestions from reliable sources can play an important part in the final purchasing decision.
