Influencer marketing is leveraging the reach of an existing influencer who has built a large following and strong brand reputation in a particular niche to support your brand, endorse your product, or co-create content, with the intent to increase brand awareness and drive sales.
How You Can Build A Powerful Influencer Marketing Strategy in 2020
“People do not buy goods and services. They buy relations, stories, and magic.”
Everything about marketing used to be magic, from concept and strategy to creation and implementation.
Once upon a time, it was difficult to find a worthy vendor who could produce and implement high-quality advertising.
Now, it’s never been cheaper, simpler, or more readily available.
To put it plainly — our magic is shrinking.
With demand for attention on the rise and overwhelming product options on the market, consumers are beginning to lose sight of who they can trust.
To filter the noise, they’re turning to ad blockers, cord-cutting, and even media fasting (yes, that’s a thing).
Consumers taking such extreme measures to avoid advertising makes it increasingly more difficult for brands to keep up with the digital landscape.
So where do you turn?
The smart move would be influencer marketing.
If you’re looking for an ironclad way to seize the attention of your ideal audience, you should look no further than someone who already has their ear. Trivia Softwares with its vast experience in this provided enterprise solutions which would be cost-effective and trustworthy.
In short, you need an influencer.
When you look at the stats below, it makes sense why influencer marketing is such a popular tactic to drive sales:
When it comes to millennials, only 1% of them trust advertisements. However, 33% of them trust blog reviews for their purchases.
Around 40% of people reported that they purchased a product online after seeing it used by an influencer on YouTube, Instagram, or Twitter.
71% of influencers believe that it’s an honest and authentic voice that keeps their audience engaged.
It’s easy to see why influencer marketing is red-hot right now, but where is it heading? And more importantly, how can you capitalize on it?
Types of Influencer Campaigns
- Discount codes and affiliate marketing.
Tracking ROI and compensating influencers for affiliate marketing is easily accomplished with custom URLs and unique discount codes.
One popular example is Audible’s partnership with New York Times bestselling author and investor Tim Ferriss.
During his podcast, The Tim Ferriss Show, he gives a short 30-second to a one-minute spot about his partnership with Audible and directs users to his custom URL, where they can not only get a free ebook but also see a list of Tim’s favourite books.
This influencer marketing tactic strikes a great balance between sponsoring Audible’s service and allowing Tim creative freedom in the form of choosing his favourite books.
Influencers are also teaming up with brands on discount codes, which are just as easily tracked and even easier to embed in graphics, videos, and share through mediums like podcasts.
- Competitions and giveaways.
Competitions, giveaways, and contests are excellent avenues for gaining greater brand exposure, generating buzz, and driving engagement.
Depending on your product’s price point, you can easily make room in your budget for giving away a handful of products each month to competition winners or directly to influencers.
Unboxing videos from Influencers, through their YouTube channel or Instagram live video, help shine a spotlight on your product by getting it in front of their entire audience at a minimal cost to your brand.
Some influencers receive so many freebies and exclusive products that they dedicate one day of the week to unboxing all their gifts on social media, thanking the brand that sent them, and either reviewing or using them right then and there on the platform.
Ideally, these prizes or gifts should be lucrative enough to get people excited or should provide early access to products before they’re widely released.
On the competition side, an easy way to drive even more engagement is to include engagement instructions as a stipulation for entering the contest.
This could be something like:
- Tagging friends.
- Liking the post.
- Sharing the content.
- Signing up for a newsletter.
- Even creating original content.
Be sure to make the rules totally transparent so confusion won’t prevent participants from entering, and to ensure there’s no dissatisfaction among the audience when the winners are announced.
Top Companies who provide Influencer marketing are as follows: