By: Jim Matorin of SMARTKETING
Influence marketing is the latest “buzz du jour.” Conventional marketers focus on positioning their goods and services to a target market. Au courant marketers, promote the digital transformation of marketing, focus on select, social individuals who have influence over potential buyers (a.k.a. brand advocates).
Did you know that the average attention span in the social media world is eight seconds! The average time people spend on social media is 116 minutes per day (source: SocialMediaToday). One byproduct of the social media world is organic advertising – the authentic relationship consumers have with a brand that influences purchasing behavior for a specific product or service. Hence the birth of influence marketing. A recent study conducted by Nielsen and TapInfluence indicated that influence marketing drives 11 times more ROI than other forms of media. Consequently, smart marketers orientate their creative strategies and marketing movements around these people (a.k.a. brand advocates).
Detailed below are the three distinct stages of developing brand advocacy.
1. Listening Analytics
– Employ social media monitoring tools to identify your brand advocates; socially active individuals who are potentially influencing your brand’s awareness, positive image and potential sales.
2. Brand Advocacy Connectivity
– Engage with key brand advocates identified in stage one on a regular basis via their preferred social media platform utilizing relevant and personalized content.
3. Cultivate New Brand Advocates
– Convert socially active individuals into brand advocates. One way is to create an OMG (“Oh My God”
) event. Suggestion:
How about a restaurant comping a table of guests for best behaved kids complete with a picture posted on Instagram.
Are you ready to implement influence marketing strategies to drive your ROI?