What is Influencer Marketing in 2020?
What is Influencer Marketing in 2020?
The proliferation of influencers in the recent years has marketers across industries wondering, “what is influencer marketing in 2020?” With most marketers adding an influencer marketing platform to the top of their wish lists this year, you would think this marketing strategy is a well-known one. But many marketers are still figuring out this marketing strategy for their own brand.
What is influencer marketing?
In many ways influencer marketing is a modern take on traditional affiliate marketing. Instead of a network of smaller affiliates driving traffic, influencer marketing targets specific people – influencers – who have large, captive audiences. Brands leverage the existing relationships that influencers have with their engaged followings in exchange for a fee for their endorsement, which is shared to their network along with their non-sponsored content.
Who is influencer marketing right for?
With the rise of social media celebrities, like Instagram bloggers and YouTube stars, it may seem that influencer marketing is more prevalent in millennial-focused consumer brands. But today, that isn’t the case. Many B2B organizations are developing influencer programs with subject matter experts that can help shorten their sales cycles and lead to higher close rates. As long as your company has a quality product or service that customers love, a captive and engaged audience, as well as, a process to track, manage, and pay influencers, this marketing strategy will work for you.
What makes influencer marketing unique?
Today, someone with hundreds of thousands of Facebook, Instagram, Twitter, or LinkedIn followers wields an incredible amount of power to drive interest in a product, and many brands are seeing big results by incentivizing those influencers to talk about their products or services. The magic here is when influencers are able to keep up with all the changes that happen quickly with algorithms, trends, news, and more.
How can influencer marketing tools help scale this strategy?
In most cases, marketers manage influencer marketing manually — handpicking target influencers, reaching out to them individually, and tracking the entire program through spreadsheets and email. There are some tools designed to manage the procurement of the influencers themselves, which is usually via an agency with or a matching algorithm. But these apps or programs do little to help manage the process of managing influencers, attribution, payouts, reporting, and further empowering influencers to perform better. To really scale this strategy, brands need to leverage an influencer marketing platform and automate the manual intricacies of running these campaigns.
Just like any other marketing initiative, reporting and optimizing is key in understanding the success of your influencer program. Especially now as influencer marketing is gaining traction and understanding in the C-suite, engagement metrics just won’t cut it.
How to find the best influencer marketing platform for your brand
Social media management, website platforms, influencer marketing tools – the list of must-have tech for marketers is endlessly growing. With any new software, it can be daunting to figure out how to best integrate them with your existing ecosystem. And influencer marketing technology is not exempt from this.
The proliferation of influencers in the recent years has marketers across industries wondering, “what is influencer marketing in 2020?” With most marketers adding an influencer marketing platform to the top of their wish lists this year, you would think this marketing strategy is a well-known one. But many marketers are still figuring out this marketing strategy for their own brand.
What is influencer marketing?
In many ways influencer marketing is a modern take on traditional affiliate marketing. Instead of a network of smaller affiliates driving traffic, influencer marketing targets specific people – influencers – who have large, captive audiences. Brands leverage the existing relationships that influencers have with their engaged followings in exchange for a fee for their endorsement, which is shared to their network along with their non-sponsored content.
Who is influencer marketing right for?
With the rise of social media celebrities, like Instagram bloggers and YouTube stars, it may seem that influencer marketing is more prevalent in millennial-focused consumer brands. But today, that isn’t the case. Many B2B organizations are developing influencer programs with subject matter experts that can help shorten their sales cycles and lead to higher close rates. As long as your company has a quality product or service that customers love, a captive and engaged audience, as well as, a process to track, manage, and pay influencers, this marketing strategy will work for you.
What makes influencer marketing unique?
Today, someone with hundreds of thousands of Facebook, Instagram, Twitter, or LinkedIn followers wields an incredible amount of power to drive interest in a product, and many brands are seeing big results by incentivizing those influencers to talk about their products or services. The magic here is when influencers are able to keep up with all the changes that happen quickly with algorithms, trends, news, and more.
How can influencer marketing tools help scale this strategy?
In most cases, marketers manage influencer marketing manually — handpicking target influencers, reaching out to them individually, and tracking the entire program through spreadsheets and email. There are some tools designed to manage the procurement of the influencers themselves, which is usually via an agency with or a matching algorithm. But these apps or programs do little to help manage the process of managing influencers, attribution, payouts, reporting, and further empowering influencers to perform better. To really scale this strategy, brands need to leverage an influencer marketing platform and automate the manual intricacies of running these campaigns.
Just like any other marketing initiative, reporting and optimizing is key in understanding the success of your influencer program. Especially now as influencer marketing is gaining traction and understanding in the C-suite, engagement metrics just won’t cut it.
How to find the best influencer marketing platform for your brand
Social media management, website platforms, influencer marketing tools – the list of must-have tech for marketers is endlessly growing. With any new software, it can be daunting to figure out how to best integrate them with your existing ecosystem. And influencer marketing technology is not exempt from this.
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