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Intelligencia.co

Influencer marketing

The role of influencers should also be kept in mind when it comes to marketing experiences like vacations and holidays. Influencer marketing (also influence marketing) is a form of marketing that has emerged from a variety of practices and studies, in which focus is placed on specific key individuals (or types of individual) 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. 

Influencer content may be framed as testimonial advertising where they play the role of a potential buyer themselves, or they may be third parties. These third parties exist either in the supply chain (retailers, manufacturers, etc.) or may be so-called value-added influencers (such as journalists, academics, industry analysts, professional advisers, and so on).

Some marketers use influencer marketing to establish credibility in the market, others to create social conversations around their brand, others yet to drive online or in-store sales of their products. Therefore, the value that influencer marketing creates can be measured in multiple ways. Some marketers measure Earned Media Value (EMV), others track impressions, and others track Cost Per Action (CPA).

Influencer marketing derives its value from the following sources:

  1. Social reach: Influencers are able to reach millions of consumers through their social channels and blogs.
  2. Original content: Influencers produce original, and oftentimes effective, marketing content for the brand.
  3. Consumer trust: Influencers maintain strong relationships with their audience, who have a certain level of trust in the influencer’s opinions. 

Influencer Marketing, as increasingly practiced in a commercial context, comprises four main activities:

  1. Identifying influencers, and ranking them in order of importance.
  2. Marketing to influencers, to increase awareness of the firm within the influencer community
  3. Marketing through influencers, using influencers to increase market awareness of the firm amongst target markets
  4. Marketing with influencers, turning influencers into advocates of the firm.

Influencer Marketing is enhanced by a continual evaluation activity that sits alongside the four main activities. Influencer Marketing is not synonymous with word of mouth marketing (WOM), but influence may be transmitted in this manner. Thus WOM is a core part of the mechanics of Influencer Marketing.

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