Businessmen are leaving no stone unturned to promote their product or service to enter the large chunk of the financial market. Among the multifarious marketing strategies, influencer marketing has evolved as one of the prominent strategies around the globe.
What is Influencer Marketing
“Word-of-mouth spreads like wildfire.” Today, these mouths can be inspired and hired to set a fire of your product in the market. These mouths are called influencers. Influencers are active people who have the immense potential to promote your brand through social media like Facebook, Google plus, Pinterest, Instagram or even Snapchat. In an aggressive marketing strategy, influencers often portray themselves as a buyer to influence the actual or potential buyers. An influencer can be anyone: your relatives, journalists, industrial analysts, professional advisors and even a politician.
Influencer marketing, aka influence marketing, has evolved through multitudes of practices and cautious studies, which focus directly on individual buyers rather than the conventional marketing strategy of targeting the market as a whole.
Marketing through social media such as Facebook, Pinterest etc. is called Social Influencer Marketing. Social Influencer Marketing challenges the conventional mode of marketing by targeting the individual on the personal level.
Why is Influencer Marketing important for Marketers
People get influenced more by the third parties rather than the brand itself. The targeting market as a whole has been so conventional that it has lost its sheen over the time. Jay Baer, an American marketing consultant, says, “True influence drives action, not just awareness.” So, Influencer Marketing Strategy is a new sexy in today’s world.
- New Sexy! Everyone is bored of the advertisements and the hoardings that tend to target audience as a whole. We all have become blind to billboards and deaf to commercials. People are attracted towards the product when it is recommended by the people they know or the people they trust.
If you see a dermatologist and she recommends you a skin lightening cream of a specific brand, she might (or might not) be an influencer. You would like to buy the product for you trust your dermatologist.
- A new network! When an actual influencer influences a potential buyer directly, the buyer becomes an influencer for the company indirectly. Let us understand it with an example.
Let us assume that Apple has endorsed me as their marketing influencer. If I buy an iPhone 6S and shows off to my friend how this phone is a class apart and how it has made my life easier, they would get influenced by it. Some of my friends would buy their iPhone 6S and would do the same. My friends are now the indirect marketing influencers. This simple act of investment in an influencer helps the company to bring a network of potential buyers.
- Yes, it is cheaper! If a direct advertisement in TV or the daily haunts you, influencer marketing is then thumbs up for you. It is relatively cheaper and more effective than the conventional advertisements. If you target your audience skillfully, influencer marketing nourishes your company by providing a huge chain of buyers and indirect influencers that intermingle to create a whole web.
How to identify the Best Influencers for your niche
- Identification:- Identifying an influencer can be a cumbersome process. Choose an alluring personality who can stimulate the interest of the people. First, identify your audience you want to reach.
For instance, if you are in book publishing business, you cannot rely on Jennifer Lopez to influence the readers. An ideal influencer should have followers of book readers. You can reach authors and politicians who are known to have such followers.
- Reach:- If you are in the fashion business, then JLo won’t be a bad choice. She is followed by fashion divas and crazy fans. Her brand endorsements touch the millions. Choose an influencer who has a reach to the masses.
- Influence:- After identifying an ideal influencer for your brand, you should judge your influencer’s actual influence. Look at his/her reputation in the social media platform: do people get affected with what he/ she says? If they do affect the followers’ mindset in your favor, please proceed to the next step.
- Budget:- Budget can call a halt to all your analysis if budget is not considered while choosing an influencer. Nobody wants to spend all their investment in marketing. Ergo, a balance should be maintained between the budget and the quality.
Latest Influencer Marketing Strategy
Social Media Influencer Marketing Strategy
I recently purchased the ‘Xiomi Redmi Note 3. I’ was influenced how the company’s advertising department has taken advantage of its ever-growing Influencer marketing platform. There were posts and conversations about the superiority of this Redmi Note 3 over their competitors. The conversation might have started when an influencer initiated it. It was joined by other millions of users who were happy with the product. The happy customers were the indirect influencers. How a minimal investment transformed the brand image!
Social Influencer Marketing Strategy is a hit nowadays. Many companies are adopting the same procedure to create a chain of the influencers. LeEco, a Chinese mobile brand, is another brand who is active on Social Influencer Marketing Platform. Recently, Amazon has been observed to exploit Social Media Influencer Marketing Strategy on Quora.
Your Influencer should be present where your target potential buyers are expected: Facebook, Twitter, Instagram, YouTube, Snapchat, Pinterest, Quora, Flickr, Tumblr, Heart It, Reddit, LinkedIn to name a few.
Influencers should monitor social media by following the hashtags on Twitter and Instagram. An influencer can use Social Mention to discover mentions on different social media platforms.
- Appointing ordinary people in different localities: Apart from the Social Media Marketing Platform, companies try to dominate in the localities by nominating an influencer to target potential buyers.
The Best Influencer Marketing Agencies in the World
1.IMA (Influencer Marketing Agency)
IMAgency works with brands like Calvin Klein, Nike, Bacardi, and Sony. Their team includes strategist, project managers, developers and social media experts to execute your brand goal and objectives.
W2O group is another influencer marketing agency recommended by the Forbes. It is a family of integrated marketing agencies with each agency having its own identity and focus. This group focuses on data-driven insights providing a staunch perspective.
Hootsuite is the most widely used platform for managing social media. It has free as well as paid plans to start your marketing influencer experience. The free plan includes 3 social profiles, basic analytics reports, and message scheduling. You can upgrade it up to 50 social profiles, real-time analytics, publishing approvals, 6 social campaign templates, social media certification, vanity URLs and bulk message scheduling.