4 Reasons to Rethink Your Influencer Marketing Strategies
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If you’ve been reluctant to go beyond dabbling in the influencer marketing game thinking it’s just a fad, think again. Influencer marketing campaigns have been around for several years now, and their popularity only continues to grow.
This increased focus is in reaction to data that traditional ad campaigns simply aren’t as successful as they once were. 30 percent of internet users predicted to be using ad blockers by the end of 2019. Things haven’t changed much since a 2015 Nielson study revealed the most trusted sources of advertising to be people you know. Branded websites, consumer opinions posted online and editorial content ranked heavily with ads sadly near the bottom of the list.
The question successful enterprises are asking themselves is no longer “Should we utilize influencer marketing?” But “How much of our resources will we dedicate to it?”
Out of 158 brands surveyed by the ANA, 75 percent utilize influencer marketing, with nearly half of those brands planning to increase funding the following year. Another study by Linqia showed that a majority of marketers plan to spend $25,000 to $100,000 on influencer marketing in 2019.
Still hesitant? Consider these four reasons to adjust your influencer marketing approach:
Consumer purchasing habits are evolving.
Generation Z and millennials have changed the game. They skeptical consumers seeking social proof before buying – and not from celebrities endorsing products. Sprout Social found that 71% of people refer to their social networks for direction before purchasing.
Modern consumers prefer relationships with brands that offer an authentic voice, and trust is an essential precursor to purchase.
Consumers are now more likely to respond to the endorsement of a person they watch and follow daily than to an ad’s claims. Peer recommendations typically carry more weight than company-run marketing channels.
To be successful in this new landscape, we have to silence our inner resistance to change and adapt our strategies, as influencer marketing provides a prime opportunity to reach target audiences across different media platforms.
The biggest names aren’t necessarily the strongest influencers.
Businesses that are new to this style of marketing often wrongly assume that influencers with more followers will bring more success, and that’s not always true. Data analysis is revealing that micro-influencers (those with typically less than 10,000 followers) and mid-level influencers often generate more engagement than celebrities, who don’t interact as much with their followers and can seem less approachable.
A Markerly study of Instagram engagement showed that numbers of followers and numbers of likes and comments from followers are inversely correlated after about 1,000 followers. Users with less than 1,000 followers produced likes 8% of the time, whereas users with 1-10 million followers achieved likes merely 1.7% of the time.
Finding the right people to represent and propel your brand must go beyond simple numbers of followers and likes to more careful vetting processes to determine actual audience engagement levels. In addition to notoriety, companies should consider a potential influencer’s expertise, demographics, engagement and sincerity of …read more
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