Social Media Influencer Marketing Strategy – Back in October, Onalytica published a white paper aptly named ‘The Definitive Practical Guide to Influencer Relationship Management’. The white paper describes what influencer relationship management is and practically, how you can do it.
Influencer marketing is often confused with what we mean by influencer advertising; paying high-profile individuals with large followings for product placements and social media mentions. As the title of the white paper suggests, we view true influencer marketing as a relationship building exercise.
Social Media Influencer Marketing Strategy
In this post, we’ll take you through what influencer marketing really is and why every brand should be doing it. We’ve even got an infographic that visually summarizes all that glorious information below.
How To Define Your Influencer Marketing Objectives
As we have mentioned for a while, the influencer industry is fast moving, evolving, starting and fragmenting – a recipe for making it more difficult to explain.
Although the industry category and buzzword is ‘influencer marketing’ we are more focused on the influencer relationship management approach. It involves brands organically engaging with relevant influencers to create lasting, authentic relationships. The end result: influencers naturally promote a brand they really believe in, instead of a transparent, paid for opinion.
Brand-influencer partnerships should be built on the same fundamental value- delivering value to your brand, the influencer and both them and your audience. Working with influencers on a paid, owned, acquired and borrowed basis.
What this means, is that while paying influencers is not necessarily a focus, it is sometimes appropriate and effective. The more popular the influencers are, the more likely it will be their day job and main source of income- you can’t expect them to work for free right? The key takeaway here is that you should pay influencers for their time, not their opinion.
Influencer Marketing Strategy In 2016 [infographic]
In short, there is no right or wrong definition, as long as there is a real connection between you and the influencer and that you provide value to your target audience.
Influencer marketing is not the latest marketing craze. It’s a slightly different way of doing things that we’ve always done. Brands often associate themselves with famous individuals, but influencer marketing involves building partnerships and relationships – it’s a longer term, more authentic and organic approach.
Since 2006 there has been a meteoric rise in social media and digital channels. Individuals and brands large and small can publish content with the click of a button. What this means is that the inland sea is larger and more densely populated; consumers are exposed to a higher number of posts, decreasing their attention to length and retention of information – how can you stand out and be seen?
In addition to this, social media in many cases cut out the middleman of the PR agency. You can now engage directly with influencers to build relationships and present partnership opportunities. Influencers can make a relatively quick evaluation and judge whether the brand is compatible with them and their audience, without much work.
Influencer Marketing: Guide To Creating A Strategy (with Examples)
With the shortening attention span of consumers comes an inherent lack of trust and loyalty to brands. Consumers rely less on logos and more on people; They no longer take newspaper and television ads as gospel, but rely on recommendations from their peers and even strangers.
As stated above, traditional advertising is not as effective as it used to be. The death of traditional advertising is due to several factors: Ad blocking is reducing the amount of content viewed; there is more competition for Pay-per-click (PPC) which means businesses are often pricing themselves out from the competition and increased media exposure means consumers are more savvy about brands which only pushes their agenda.
In this age of mass content and noise, society turns to key influencers they trust to make informed judgments about brands, products and issues. Building relationships with the right influencers can, therefore, be the cause of improving brand value and increasing sales. Partnering with top influencers gives brands credibility and trust they can’t get anywhere else. It is a halfway house between advertising and PR that many brands feel is the best way for them to convey their messages effectively. Since the economic crisis of 2008 there has been a newfound cynicism associated with politicians, newspapers and big brands and this lack of trust has made it difficult for brands to get their marketing messages across consumers.
As Marketing Week published back in 2009, there is an “evolutionary shift from respect to reference; Respect is people who accept what they are told and reference is people who seek advice from peers. We are in the “age of emotional proximity”, where peer recommendations trump all other marketing.
Navigating The New Era Of Influencer Marketing: How To Be Successful On Instagram, Tiktok, & Co.
Compared to social media community management, influencer marketing is more cost-effective – especially if you’re struggling for internal marketing resources. A Forrester research study showed that “6.2% of the top influencers are responsible for 80% of social media influence”. Joining a select group of influencers who have the potential to impact your wider market will provide the best bang for your buck. Co-creating content with influencers both improves quality and saves time on content creation.
Influencers are often consultants, practitioners, and authors in their fields, so their opinions are highly valued and influence the market. Brands that partner with industry experts inspire customers, prospects, innovation and technologies by borrowing their thought leadership.
Thanks to Alicia Russell for sharing her opinions on this post. Alicia is the Product Marketing Manager at Onalytica, a provider of consultancy led Influencer Relationship Management Software. At Onalytica, he works to educate the industry, while driving inbound leads through social media, SEO optimized thought leadership content and email marketing. You can follow him on Twitter or connect on LinkedIn.
This article was contributed by a Smart Insights Content Partner. To find out how you can become a regular contributor and share your knowledge and experience with our readers, please see our Content Partnership options.
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We went back to our handy guide for digital statistics from We Are Social and Hootsuite, and the data still looks encouraging. Boasting a 100% urbanization rate and a 147% penetration rate for mobile phone connections, high GDP per capita, and English as the primary language, it’s no wonder that marketers targeting Asia has Singapore in their plans.
Pdf) The Impact Of Influencer Marketing On The Global Economy
Coupled with changes in consumer behavior driven by the coronavirus pandemic, ease of last-mile delivery and a thriving e-commerce ecosystem, online businesses have a better competitive advantage in this island in Southeast Asia.
With social media penetration rates that are one of the highest in the region at 79% of the total population, and still see a year-on-year user growth of 1.6%, or 72,000 new users , there are more opportunities for sellers. to use social media platforms to reach different audience segments.
YouTube usage reigns supreme based on the ranking from the aforementioned report, with 4.42 million people (approximately 76% of the total population) reported to have used the platform in the month prior to the report. . It is followed by Facebook and Instagram to round up the top three most used social media platforms in Singapore.
Due to the unique size of the market, social influencers in Singapore are classified a little differently compared to other Asian markets, as shown in the chart below.
Key Social Media Influencer Trends To Look Out For This Year And Beyond
Top stars: Top star-influencers have more than 500,000 followers, and this level is reserved for the crème de la crème of social media influencers, and not necessarily “traditional” celebrities. meaning. These top stars have the ability to drive social conversation and popular culture through their massive base of followers. The involvement of a top star in Singapore gives marketers access to a wide audience, effectively creating general awareness and brand lift.
Macro-influencers: Macro-influencers in Singapore usually have 100,000 to 500,000 followers, and this group also includes celebrities in Singapore including actors, musicians, athletes and others. Macro-influencers can bring significant brand lift, but also drive brand engagement and interest.
Micro-influencers: Micro-influencers in Singapore are likely
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