What is Influencer Marketing – Part 2

What is Influencer Marketing – Part 2

In Part 1 of the Influencer Marketing Explained series, I talked about the basics of influencer market, and what it means to the consumer. Influencer marketing is the fastest-growing online customer-acquisition channel. About 65% to 75% of marketers plan to include influencer marketing in their strategy this year. Influencers can include celebrities, social media pundits, the media, and local food critics, product reviewers or anyone who is a go-to source for opinions and information. Many animals (yes, you read that right!) are also influencers with enormous social media audiences!. Check out the hashtag #dogsofInstagram on Instagram, of course, and you’ll find some working dogs and their industrious owners.

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Influencers work for variety of reasons including getting early access to information on new products and offering fresh content to their readers. Some influencers are compensated for their opinions a brand or agency, but many work for free product samples.

Data from Adweek.com and The Shelf shows that 92% of consumers trust recommendations from others. This means they trust people they don’t’ know over branded content such as a corporate website or brochure! In addition, 70% say that online reviews are their second-most-trusted source for product information while 47% of U.S. readers consult blogs to monitor trends & ideas (1)
Stats support that customers acquired through influencer marketing programs tend to be loyal customers. Customers acquired through word-of-mouth have a 37% higher retention rate. (2)

The following influence millennial women’s shopping decisions: (3)

  1. Reviews and word-of-mouth recommendations 84% of the time
  2. Social media: 75% of the time
  3. Brand websites: 41%
  4. Magazines: 39%
  5. TV: 36%
  6. Mail catalogues 21%
  7. News websites: 16%

How do you know if your product or brand is a good fit for influencer marketing? Moreover, how do you find the right influencer? Check back for Influencer Marketing, Part 3.

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(1) “Why Influencer Marketing Is the New Content King [Infographic].” SocialTimes. Web. 16 Mar. 2016.

Why Influencer Marketing is the New Content King [Infographic]

(2) “Why Influencer Marketing Is the New Content King [Infographic].” SocialTimes. Web. 16 Mar. 2016.

Making the Market for Influencer Marketing

(3) “Infographic: Here’s What Millennial Women Want-and Want to Give-This Holiday.” AdWeek. Web. 16 Mar. 2016.
http://www.adweek.com/news/advertising-branding/infographic-heres-what-millennial-women-want-and-are-gifting-holiday-season-168639