As the world shifts toward social media and a global internet economy, consumers are looking to fellow consumers to inform their purchasing decisions. Instead of relying on ads or companies for advice, as they did previously, consumers are seeking information from internet celebrities; personalities; and review sites.
In the past, customers were limited to the advice of those around them and the advertisements they interacted with. Therefore, if a potential customer didn’t have a resident expert at their finger tips they would often be influenced by a retail salesperson or an advertisement. Today, however, people are limited only by their internet connection. Online, there are hundreds of millions of review sites; forums; resources and opinions for people to sift through. Not to mention, on the internet, customers can find just about any information on anything and do so in a matter of seconds.
84% of marketers plan on executing at least one influencer marketing campaign in the next 12 months
For these reasons and much more, influencer marketing and the ability to tap into conversational marketing is becoming more and more important.
For the new age marketer, the rise of social media and internet influence unlocks hundreds of new ways to engage and interact with potential customers. Other than the obvious rise of digital advertisement mediums like Facebook, Instagram, Snapchat, LinkedIn etc. Marketers and brands are now able to connect with consumers more directly, more organically, and at scale. Working with influencers, however, takes this connection to a new level and amplifies a brand’s messaging on a more human- scale.
In the last five years, "Influencer Marketing" has shot up 5,000% in active searches
Influencer marketing allows marketers to work with a select group of people that influence their consumer audience. Most often an influencer marketing campaign consists of a brand team that works closely with an influencer (predominately social media) to promote a product, message, or promotion. Influencers then take instruction from the brand and post a single or succession of posts that reach their respective audiences. The problem with this, however, is that many marketers restrict their influencer marketing campaigns to internet celebrities of people of mass reach. Although it may seem like a no brainer - work with the biggest internet celebrities and influencers to reach the most people. Many people don’t realize that larger follower counts don’t translate into larger engagement, conversion, and ROI.
More often than not, fewer followers and a more niche appeal translate into better ROI and more sales for a company.
At GrowSumo, we believe that the best influencers are closer than you think. In fact, many of your best influencers live within your customer base.
So you may be wondering... “Ok, Influencer marketing seems cool, it’s a buzz word and a ton of big companies are using it... how can I benefit from it?”.
That’s the thing - influencer marketing is so much more than working with internet celebrities and social media postings. Influencer marketing is any campaign or program that rewards influencers for bringing in sales and amplifying your brand. More importantly, influencer marketing doesn’t need to be an expensive channel with low ROI - in fact, when done correctly, it can morph into a viable customer feedback loop; powerful sales tool; and even more powerful growth channel.
Quotes source: https://trends.google.com/trends/explore?date=all&q=influencer%20marketing&hl=en-US