Influencer marketing often means spending heaps of cash to people with large followings on social media to endorse and support your product/service. Those days are numbered. Yes, it will get you reach. But will it get you conversion?
If your objective is to drive brand awareness, this might be a good approach. If your objective is to drive business growth, I suggest another approach.
I saw a story from Alicia Russell from Onalytica the other day about GymShark - a brand that has risen from no-where with little marketing investment - just from the power of advocates hanging out in gyms with their kit.
Our customers are overwhelmed with content. They're drowning in noise created by brands who feel quantity =quality.
Social media channels are shifting their algorithms so that brands need to pay for their followers to see their content.
Ad blockers are making it increasingly difficult for brands to get their message via paid social advertising and to top it all off, people are less trusting of logos and more trusting of people.
Influencer marketing is changing. It's about empowering the authentic voice of advocates (which could be employees, partners, experts, fans) and supporting them to get their voice heard.
Consider this cost effective way to activate your most credible voice. Advocacy.
Four trends are converging to make influencer marketing an increasingly important part of any B2C or B2B marketing program: There is a glut of content being created, and breaking through the noise is more difficult than ever. The precipitous decline of organic reach on Facebook (and now Instagram) makes social media promotion of content a trickier proposition. Ad blockers make amplification of content through display ads (even hyper-specific remarketing) less appealing. Americans trust recommendations from real people significantly more than we trust advertising and promotions from brands, in any guise.