Of course, you heard about the term Influencer Marketing in an ad network. And maybe even used the definition of social influences in practice. Despite the fact that the word “marketing” is included in the definition, this tool is closer to PR specialists.
What is social influence
Social influence definition is a way to promote products and services through opinion leaders. There have recently been a lot of talks about brand promotion through popular bloggers. This is only a small part of the trend. In fact, anyone can be an “influencer” – from the popular pop star to the person with the nickname SuperMama, who is trusted by the entire mom community of a particular baby forum. An “influencer” can be not only a person but also a group, brand, company or even a place (for example, a club of interests) that people trust in certain issues. But if dealing with super-reputable regulars of forums and top recommenders of sites is not that easy, then working with bloggers has recently received the almost universal acclaim in the world of brands. The secret weapon of recommendatory marketing is that it does not look like an advertisement. People tend to believe favorite bloggers more than to advertising on TV or on YouTube. 92% of buyers believe the recommendations of other people, even if they are not familiar with them personally.
Economy Influencer Marketing
Western marketers and promoters have been using the awesome effectiveness of recommendatory marketing in comparison with other channels for a couple of years now. For example, recommendation marketing in the FMCG segment brought brands $11.33 for every spent dollar, in retail – $10.48, in tourism – $7.04. The worst results were in the area of home and garden products – $0.64 per 1 spent dollar. On average, Influencer Marketing brings $6.85 per dollar in all industries. According to a survey of the company Tomoson, which was attended by 125 marketers, Influencer Marketing turned out to be one of the most effective tools for Internet promotion in terms of attracted profits (along with e-mail marketing).
According to a survey of opinion leaders conducted by AdWeek, the work of brands with recommenders, even on a paid basis, brings them some small specific bonuses:
- 88% of opinion leaders tell their friends about the brands with which they worked
- 72% of opinion leaders create additional content for free and voluntary about the brand after the campaign’s end
- 77% admit that they more likely to buy the product of the sponsor in the future, not its competitor.
Influencer Marketing has possible problems. First, if we are not talking about sponsorship content or star attraction, then in most cases, we are talking about earned media, that is, channels that you don’t pay for placement. And even if you pay, brands still do not have such control over recommendation sites as they do over more traditional advertising sites. A blogger/recommender can always express his unflattering opinion about a product, ridicule a company or just make not very high-quality content. Unfortunately, many leaders, even the most famous companies, have to deal with the uncontrollability of opinion leaders. Secondly, if in the USA, there is a leader of opinion on almost any subject, in other countries, things are much worse. Even with a cursory glance, you can see real information’s lack in some sectors – that is, no opinion leaders have a more or less acceptable quality (and sufficient quantity). That is, in other words, the Influencer Marketing market is limited by the number of opinion leaders in some segment.