On the fence about hiring a social media influencer? You’re not alone.
Many marketers debate whether their brands could benefit from partnering with social media influencers and recent research has found the new digital strategy quite effective. According to a McKinsey study, social, word-of-mouth marketing delivers more than twice the sales of typical paid advertising. Plus, the retention rate for these customers is 37 percent higher.
“In the 21st century media landscape, an outlet that can organize an engaged community of interest has real staying power,” John Wihbey, Media Analyst and Assistant Professor of Journalism at Northeastern University, told Variety.
Peer recommendations are especially crucial among millennials, and as the 20 to 35-year-old age bracket becomes the largest generational demographic in the country, leveraging a platform where they gather most of their news and social updates can have a tremendous payoff.
“A brand is no longer what we tell the consumer it is – it is what consumers tell each other it is,” stated Intuit co-founder Scott Cook.
The targeting is unparalleled, too. Roughly 73 percent of online adults use one or more social networking sites. And when they’re on the go, odds are they’re still logged on, with 66 percent of time spent on social while using mobile.
A Brand’s New Pathway
The reason consumers gravitate toward social media influencers is that the influencers are “everyday” consumers too, serving as the hinge between company and community.
A social influencer strategy is akin to receiving product or service recommendations from a close friend, which most people highly value. Social media influencers have engendered a deep trust with their audience over many years, positioning them as a bridge in the brand-consumer relationship.
As a result, social media influencers can drive a whole new audience to a company, bolstering brand awareness and engagement — sometimes even more so than traditional marketing techniques such as T.V. commercials, print campaigns, and celebrity endorsements.
That’s why the divide between social media stardom and pop culture recognition continues to narrow. YouTube’s director of content commercialization, Jamie Byrne, stated “creators on YouTube are increasingly crossing over into mainstream pop culture — most brands are looking at these collaborations as part of a larger campaign or media program.”
It’s now mandatory to consider social media influencers as essential players in every brand’s digital marketing strategies.
Are you having trouble convincing key parties within your company that social influencer marketing is valuable or cost-effective? Remind them that many influencers create all their content themselves which can drastically reduce the cost of production. Also, it’s crucial to understand the dynamics of the brand-influencer relationship. More often than not, social influencers have the know-how to generate high-quality content AND present it to a captive audience.
If your brand is interested in working with social media influencers, click here to contact Trending Family.