Just last year, Instagram hit an incredible milestone of 600 million users. Combined with the recent launch of Instagram Live and the wildly successful Promoted Posts in 2013, Instagram’s strategic focus on Influencer Marketing is making waves in the world of digital marketing.
Over the past three years, Google Trends observed a steady decline in print advertising. Within the same period, influencer marketing has steadily grown in popularity and is quickly narrowing the gap with video advertising. To date, AdWeek reports that 94% of marketers believe in the strategic effectiveness of influencer marketing, with most spending between USD25,000 and USD50,000 for an influencer campaign.
The Rise of AdBlock
In December of 2016, Apple released the iOS 9 for its chain of devices. With the new software came the added support for AdBlock – a program to block banner advertisements on websites and social media platforms alike. In the same year, Digital News reported that 47% of online consumers used ad-blocks. What was once a program solely used by experts in the field had now become mainstream, throwing marketers into a frenzy of re-evaluating their monetizing and advertising strategies.
Growing Immune to Traditional Advertisements
Traditional marketing strategies have also spiralled downward in terms of actual effectiveness. In the past, brands paid an average of USD5 million for a 30-second commercial between breaks of primetime telecasts. Today however, consumers are rarely glued to the screens of their TVs, with only 14% remembering the last ad they saw, reports Leverage Marketing.
Rethinking and Realigning Content
Navigating through these changing tides of marketing, brands recognize the need to adopt strategies that incorporate their products into popular content that is being consumed on social media. In this day and age, it’s all about “integrating a customer’s attention organically with a product or a service” and fortunately for most brands, influencer marketing offers the solution to all their problems.
In 2015, a study by Nielsen revealed that 84% of consumers perceived recommendations from friends and families as the most trustworthy factor in their purchasing decisions. Influencer marketing similarly uses the age-old Word-of-Mouth strategy, except that recommendations extend beyond people within our social circles to include influencers – key individuals on social media who are recognized as experts within their specific fields.
Traditional celebrities are removed from their audiences. Whether on stage or on movie screens, celebrities present carefully constructed caricatures from behind glass walls. Therefore, many idolize and admire them from afar, but very rarely are celebrities relatable to the average Joe.
Comparatively, influencers appear to present themselves as they are, making them more approachable, relatable, and trustworthy. Before selling a product, brands in the modern market are selling trust.
From garnering higher click rates to conversions, it may be tempting to jump on the bandwagon of influencer marketing. But before you do, here are some tips:
- Understand Your Audience
If you are operating in a niche market, working with the most popular influencers may not be your best bet. Instead, look for experts in your field to garner a higher level of engagement as a result of hyper-targeting loyal audiences.
- Allow Room for Personal Creativity
Influencers have amassed large followings because of their unique content and voice. Dictating and limiting them excessively results in just another “advertisement.” Listen to them because they know their audience better.
- Fostering Long-term Relationships
From an audience’s perspective, it becomes harder to believe someone who switches teams regularly than someone who frequently posts about the same brand. When done well, audiences are less likely to see it as product placement, and more of the influencer’s personal brand.
Posted by Roselynda Afandi, CorpMedia