In the world of marketing, there is always some new thing which everyone goes on about at length. In practice, it’s probably just an old idea re-packaged with glitzy new names and slogans. There’s currently a lot of buzz around Influencer Marketing so we thought we’d break it down and make it intelligible.
Here’s a definition:
Influencer marketing is a form of marketing in which focus is placed on influential people rather than the target market as a whole. It identifies the individuals that have influence over potential buyers, and orients marketing activities around these influencers.
Why move away from marketing your product? The average person sees between 4,000-10,000 brand messages every day, so standing out in this crowded marketplace is difficult.
If the public lose faith in brands, and don’t listen to or read adverts, the question is – who will they believe? Answer: each other – someone they trust. For big brands, they can pay people to influence others. In many ways, it’s the same as having a brand ambassador, or someone who endorses or promotes a particular company’s products or services.
For small, local businesses, though, such expense is way outside of their marketing budget. That doesn’t mean that influencer marketing and brand ambassador-ship is out of your league though.
Here’s some really interesting facts about consumers, derived from research carried out in 2017:
- 85% of consumers trust online reviews as much as personal recommendations
- Positive reviews make 73% of consumers trust a local business more
- 49% of consumers need at least a 4 star rating before they choose a business
And perhaps most importantly – 68% of consumers left a local business review when asked.
Create your own Influencer Marketing Strategy by recruiting Brand Ambassadors – by asking your customers to review your business.