By: Jim Matorin, Business Catalyst at SMARTKETING: Tech-friendly pragmatist that specializes in innovation and revitalizing businesses.
This past year I have been posting about influence marketing. My last post being Global Fashion Influencer https://smra-global.org/news/6145649, specifically macro influencer, Meghan Markle. For those that have been following me, I am still ambiguous on whether smart marketers should use macro or micro influencers. I maintain that it varies by industry which was further validated when I read Kathy Doering’s post this past July Walmart is Cozying Up Influencers https://smra-global.org/news/6394456 detailing Walmart’s implementation of micro influencer content by key product categories (e.g., Bigelow® Green Tea, göt2b® hair products, etc.).
Influence marketing update: Is influence marketing an updated version of buzz marketing leveraging the power of social media? Based on the results Nike experienced with their controversial Colin Kaepernick (“Believe in something. Even if it means sacrificing everything") ad, I am still bullish about buzz marketing whether it is working the numerous social platforms utilizing influence marketing or implementing a traditional advertising campaign. Let’s look at the numbers. According to the Apex Marketing Group, Nike received more than $43 million worth of media exposure in less than 24 hours after the spot ad was posted on Twitter – 44% positive, 25% negative and 31% neutral. Reuters reported that the brand sold 61% more merchandise in the 10-day period after the ad was posted compared to the 10-day period before the ad was released.
Bottomline: Nike knows its customers; two- thirds are younger than 35 and ethnically diverse (source: NPD Group). Consequently, Nike understands the power of “identity loyalty” where their customers internalize, thus become emotional advocates when their brand is under attack. Note: The concept of “identity loyalty” was first articulated by Simon Sinek in his famous Ted Talk: “People do not buy what you do, they buy why you do it.”
Conclusion: Savvy marketers are always inventing new marketing terms to position themselves as thought leaders. Will influence marketing still be a hot topic one year from now? I have my reservations. One thing I do know, smart marketers will continue to create marketing movements online and offline utilizing all the tools in their “Show Me the Buzz” tool kit.