Influencer Marketing- Key to Escalate Brands!
We all are aware of the fact that marketing plays a significant role in every business. Hence, until the millennium almost every brand would hinge on television advertisements, billboards, newspapers, and more. But, the rise of the internet and social media sidelined these traditional marketing strategies and paved the way for various forms of digital marketing. One such prominent and foolproof marketing technique is influencer marketing.
“Internet ad growth has been far stronger than the state of the global economy would suggest, rising seven times faster on average since 2015. But, regulation aside, online platforms are bound by the law of large numbers, and revenue growth is easing for key players like Alphabet and Facebook,” said James McDonald, Managing Editor, Warc Data. (source: WARC)
Although traditional marketing could not be skipped while watching our evergreen movies or our favorite show, yet, these ads failed to influence a major lot of commoners. Mostly because these products were endorsed by cine or sports stars with whom an ordinary individual couldn’t relate to, especially the ones not addicted to movies or sports. According to Statista, Indian TV ads had generated a high revenue of Rs.320 billion at 24 percent growth in 2019, and digital ads made up to the top three. While traditional marketing just witnessed six percent growth, in fact, radio and print growth declined.
Influencer’s Magic on Audience
Initially, this marketing strategy was restricted to celebrities and bloggers who had high website traffic. But, the widespread of social media and people who had a huge following on these platforms who had the potential to influence the audience, gradually ventured into this marketing arena as ‘Influencers’.
Every decade the preference and addictions of audiences fluctuate, back in the 1980s people were using radio and newspapers as a media, and the 1990s brought in TV to almost every household. While the millennium introduced computers and the internet to people, and post a decade social media is keeping us hooked to it to date, with new applications venturing the market every other day. These influencers are one among the masses thus, it was easy for them to introduce the products to the targeted audience and provoked them to give it a try.
Influencer marketing uses word-of-mouth marketing and social proof, these two aspects have evolved to be crucial to succeed in the digital marketing strategy. These influencers have built trust among their followers with some strong content. These influencers generate content that grabs the interest of the targeted audience and gradually, turn as their friend and eventually become their role model.
According to sources, about 80 percent of marketers consider influencer marketing more effective over other marketing techniques. While 71 percent of marketers believe that customer quality that influencer marketing brought in is better than other sources. Furthermore, it is also to be noted that influencer marketing strategies focused on branding multiplies the Rate of Interest generated eight times. As the main goals of influencer marketing are: 85 percent of influencers say increasing brand awareness, 64 percent prefer generating sales & conversion, and 71 percent aim at attracting new audiences.
Building Brand’s Goodwill
Creating a strong brand and positive image among the consumer is all about the business goodwill. Although business goodwill represents the company assets, a strong customer base is a crucial asset of and company. Thus, gaining consumer’s trust and establishing a strong customer base as well as building the brand’s reputation among the professional group in the market is vital to build the brand’s goodwill among the consumers.
In the present day, the influencers have multiplied and are numerous in number. Thus, it is with the brands to choose the right influencer to promote their products or services, as finding the right talent who could produce relevant and catch content would easily increase the ROI by eight folds. This step would in turn elevate the brand way ahead in the competing market.
“Internet ad growth has been far stronger than the state of the global economy would suggest, rising seven times faster on average since 2015. But, regulation aside, online platforms are bound by the law of large numbers, and revenue growth is easing for key players like Alphabet and Facebook,” said James McDonald, Managing Editor, Warc Data. (source: WARC)
Although traditional marketing could not be skipped while watching our evergreen movies or our favorite show, yet, these ads failed to influence a major lot of commoners. Mostly because these products were endorsed by cine or sports stars with whom an ordinary individual couldn’t relate to, especially the ones not addicted to movies or sports. According to Statista, Indian TV ads had generated a high revenue of Rs.320 billion at 24 percent growth in 2019, and digital ads made up to the top three. While traditional marketing just witnessed six percent growth, in fact, radio and print growth declined.
Influencer’s Magic on Audience
Initially, this marketing strategy was restricted to celebrities and bloggers who had high website traffic. But, the widespread of social media and people who had a huge following on these platforms who had the potential to influence the audience, gradually ventured into this marketing arena as ‘Influencers’.
Every decade the preference and addictions of audiences fluctuate, back in the 1980s people were using radio and newspapers as a media, and the 1990s brought in TV to almost every household. While the millennium introduced computers and the internet to people, and post a decade social media is keeping us hooked to it to date, with new applications venturing the market every other day. These influencers are one among the masses thus, it was easy for them to introduce the products to the targeted audience and provoked them to give it a try.
Influencer marketing uses word-of-mouth marketing and social proof, these two aspects have evolved to be crucial to succeed in the digital marketing strategy. These influencers have built trust among their followers with some strong content. These influencers generate content that grabs the interest of the targeted audience and gradually, turn as their friend and eventually become their role model.
According to sources, about 80 percent of marketers consider influencer marketing more effective over other marketing techniques. While 71 percent of marketers believe that customer quality that influencer marketing brought in is better than other sources. Furthermore, it is also to be noted that influencer marketing strategies focused on branding multiplies the Rate of Interest generated eight times. As the main goals of influencer marketing are: 85 percent of influencers say increasing brand awareness, 64 percent prefer generating sales & conversion, and 71 percent aim at attracting new audiences.
Building Brand’s Goodwill
Creating a strong brand and positive image among the consumer is all about the business goodwill. Although business goodwill represents the company assets, a strong customer base is a crucial asset of and company. Thus, gaining consumer’s trust and establishing a strong customer base as well as building the brand’s reputation among the professional group in the market is vital to build the brand’s goodwill among the consumers.
In the present day, the influencers have multiplied and are numerous in number. Thus, it is with the brands to choose the right influencer to promote their products or services, as finding the right talent who could produce relevant and catch content would easily increase the ROI by eight folds. This step would in turn elevate the brand way ahead in the competing market.
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