Influencer Marketing: What is So New About it?
I read a banner somewhere which said - Influencer Marketing is the New King of Content.
Isn't it a known fact that people influence people? Nothing influences me more than the recommendation from a trusted friend. As per Mark Zuckerberg, 'A trusted referral is the holy grail of advertising.'
We knew this always and even today. So what is so new about influencers?
Well, there's nothing new about influencers. Even today influencers are still doing what they used to do. They influence opinions and ultimately the buying decision. In my opinion, what has changed is the landscape of influencer marketing, thanks to social media and digital communication channels. 86% of marketers assess that marketing has changed more in the last 5 years than in the 50 years preceding. The power of influence is such that 3% of people generate 90% of the impact online.
Today, we have more information than ever before making the market very noisy. We hear things but don't necessarily listen.
Marketers often ask "How do I get noticed?" and customers often wonder "What do I pay attention to?"
And this is when people turn to people they trust to filter this noise. The advent of social media has impacted influencer marketing in two ways:
1. Social media allows influencers to scale their opinion.
2. Social media allows people to search their opinion more quickly than ever before.
The key to leadership today is influence and not authority. Online influencers come in many forms and they are unique to the context they operate it. From the web celebrity to the nerdy expert to the personal brand. From traditional journalists and analysts to leading bloggers and industry insiders in your community. Your customers and employees are your biggest influential fans.
Whether new or reinvented, either way, I hope the below list of steps to take before embarking upon your influencer marketing journey, leaves you feeling empowered, inspired and full of ideas on execution.
Analyze your customer's buying journey to see where influencer marketing fits in.
Be clear on the marketing objective of your influencer marketing program.
Know how to measure results right from the get-go.
Understand the reach, relevance and resonance of your influencers.
Remember that the word 'relationship' is at the heart of the social web and influencer strategy.
Do you know of any other trend that has dramatically changed the influencer marketing landscape? I would love to learn your thoughts.
This article was originally published on LinkedIn Pulse.