Marketing is necessary for every brand and business in order to promote itself as well as its products. Marketing is the effective use of advertisements, billboards, television, radio, internet, brochures and all other media to make a brand known to the general public, this would then lead to its sales and consumption. Marketing and sales go hand-in-hand because the better known and accepted a certain brand is, the more it is patronized and bought by the consumers. But with all brands marketing themselves through the same media, creating a very competitive and cut-throat market area, how can one brand separate itself from the rest, hence the birth of influencer marketing.
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What is influencer marketing?
Influencer marketing is a marketing strategy which employs the use of individuals, known as influencers, to help promote a brand to the market. Influencer marketing is a new twist on the traditional marketing practice that just focuses on the consumer. How may you ask? Influencer marketing, instead focuses on key individuals, influencers, of their specialty market, because they can sway potential buyers, followers, into purchasing it simply because the influencer uses them. Marketing activities are centered around the influencers, instead of the general public.
It may be weird if you think about it because instead of arming the customer with knowledge about the brand, you employ an influencer to use that brand’s products and to showcase it on various social media as well as their respective blogs. The dawn of social media has helped create these influencers because now individuals can post just about anything on the internet and gain a cult following. Influencers influence the market because people follow them, and people tend to imitate what they buy or do to be popular among their peers. Everyone is guilty of buying or patronizing a certain product because a certain someone uses them and people are starting to copy them.
Is influencer marketing a new trend?
Believe it or not, influencer marketing has been present since the day that people started to promote their respective brands, we’ve just looked at it differently. We’ve employed various athletes, celebreties, tv personalities and even politicians to help promote the brand directly and indirectly. We’ve partnered with these individuals, who are masters of their own respective fields, to gain footing in the market. What makes influencer marketing unique is the use of social media to share their thoughts and opinions towards the brand. Anyone can become an influencer, given enough following and patronage from other individuals, all you need is the internet, a great camera and a nack for content and you’re well on your way to becoming an influencer.
What impact does influencer marketing have on the market place?
All brands, big and small, have noticed the trend of people, being influenced by other people through social media, in their purchase habits. They have come to realize that individuals now play a role in behavioral patterns of others through various images and publications they have. Brands are starting to create divisions in their companies in order to cater to this change in market behavior. Now, an increased budget is being utilized in order to partner with influencers in order to better promote their respective brands.
It’s not just the brands that are benefiting from the change in market behavior, even marketing agencies are starting to form divisions of their own and offering influencer marketing as a part of the services they offer. There are even software and websites that are starting to spread that helps provide services for niche influencer marketing.
Is influencer marketing important?
It is a resounding yes, and if done correctly it could be a major catalyst in providing your brand with incredible growth and market penetration. By spending on influencer marketing strategies and partnering with the right people, your company and brand can experience impressive ROIs and further increase market share and brand visibility worldwide.
A recent study conducted by uk.businessinsider.com, lists the impact of influencer marketing to brands as well as specifics on how to quantify the effectiveness of social media campaigns.
You can also read about how effective influencer marketing was to Tommy Hilfiger, in order to help them gain better market penetration in the highly competitive eyewear industry. The article also lists the strategy they employed, in partnership with influencers, that helped drive increased sales.
Benefits of influencer marketing:
Benefit – 01
Influencers, aside from using your brand’s products and sharing them online, they also link your product pages on their respective pages, allowing viewers easy access to see and eventually buy your brand’s products.
Benefit – 02
Increased market visibility because partnerships with influencers allow one’s brand to advertise across all geographic borders. Effective partnership with individuals as well as the internet allows for the easy targeting of niche markets worldwide because social media campaigns are employed and reach a far greater audience.
Benefit – 03
Niche targeting is done by using the appropriate individual to help target a specific demographic. Various influencers have different followers, and identifying the proper one in order to meet your brand’s criteria is important, and by partnering with the right individual, you build trust with your audience causing them to purchase your products.
Overall influencer marketing is a very powerful tool that brands are starting to use and employ in order for them to gain a better foothold in the very competitive global market. It is important to partner with the right individuals in order to properly tap the desired markets.