This Is Why Influencer Marketing Will Dominate 2017
This Is Why Influencer Marketing Will Dominate 2017
This Is Why Influencer Marketing Will Dominate 2017
by

Is marketing dead? Many believe that the internet at large is getting too smart for marketing. Indeed, consumers are getting resourceful. Traditional marketing such as advertising, public relations etc doesn’t seem to hold the same weight as it used to. People are simply not buying into these campaigns —  users take matters into their own hands and do their own research (thanks a lot Google…)

So how do marketers tackle this newfound challenge?

WATCH: This Article Has Been Visualized Below!

Enter: Influencer Marketing

What is influencer marketing? Well, it’s a type of marketing where you don’t actually communicate directly to your audience. But instead, you pinpoint key leaders of a specific community — and drive your message through them.

These “key leaders” are people that have earned the trust of your target audience. Malcolm Gladwell talks about this in his book “The Tipping Point”. He refers to them as “Mavens” – information brokers who share their knowledge and thoughts simply to help others.  In the process of doing so, they build a foundation of  trust with their audience.

Influencer Marketing leverages  these ‘Mavens’ to deliver their message. It’s like Apple going up to Superman and saying “Hey, could you tell all your fans that you love the new iPhone?”

A Real World Example With Out Of This World Results

In 2015, Lord & Taylor — a retail giant — collaborated with around 50 Instagrammers and asked them to post of picture of themselves wearing a  specific  dress on a specific day. With a 1000$ to 4000$ incentive, the Instagrammers happily obliged and posted the pics on the given date.

The posts reached a total of 11.4 million Instagram users — which prompted 328,000 brand engagements on Lord & Taylor’s account. The dress sold out in no time.

 

Most of the buyers didn’t even know they were being advertised. Nor did they care — Because the ad didn’t disrupt their experience ON Instagram. If anything — it enhanced it!

That’s how effective Influencer marketing can be!  Let’s look at a few stats to see why.

The Proof is in the Numbers

92% of customers said they trust recommendations from strangers over brands. And Of all marketers who have used Influencer Marketing, 81% said they saw success. That’s a pretty high success rate.

Another study showed that — for every dollar spent on influencer marketing —- marketers are generating up to 20$ in return (Averaging at $6.50). With these strong returns, everyone’s scrambling to get in on the action before it’s too late

Here’s the thing, at the moment the value generated from Influencer Marketing  is worth WAY more than what you’re paying for.  But this won’t last long. Soon, there’ll be more marketing campaigns than there are trusted influencers. Prices for will go up, and margins will thin.

Get in on the Action Before it’s Too Late

Platforms like TapInfluence and Tomoson are making it easier than ever for marketers to target influencers.

But before approaching an Influencer, do your research. Ensure that the influencer has the desired relevance and reach. And if you do decide on an influencer, let him be himself! The reason influencer marketing works so well, is because the message delivered is authentic.  Holding an influencer to a script…kinda ruins that!

It’s important to realize that Influencer Marketing is by no means a quick & easy hack. It requires time and investment, but the returns can be worthwhile!

About the Author

Shawn Dexter
Shawn is the Founder & Lead Content Curator at Skip MBA. He is also a Product Manager and former Software Developer with a love for education. Shawn believes that a world-class business education can be obtained without an MBA. He is self-educating himself and helps people do so as well.
  • Anthony Murphy

    Great article Shawn, I totally agree that traditional marketing is being disrupted by quality digital and influencers marketing. Cheers!

    • Hey Anthony, Thank you!

      Indeed, influencer marketing seems to be the way forward. But I have to wonder.. what happens when people catch on?

      Are we going to lose the trust that authorities have built up on the internet. That would be awful.

  • Denis

    Very very insightful article, and video! Thanks for this, Shawn!

    • Thank you Denis!

      I enjoyed writing this one :)

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