I have some friends in the apparel business and they have paid a few Instagram influencers to wear their product. This tactic has been successful for them — as it has for other fashion brands —but I don’t want to draw too many conclusions about influencer marketing’s overall effectiveness based on these anecdotes, particularly because I’m guessing the tactic lends itself better to fashion than, say, SaaS. Do you think influencer marketing is a useful tactic across a range of industries, or is it most effective in just a few?
An influencer is someone who is able to reach a lot of people, so it's not just instagram models, but also youtube channels, twitter pages, Facebook pages and also any type of blog site. You just gotta find the right influencer that has the people listening to him which would buy your product. So if you want to promote software, find a content producer that talks about software. Paying influencers to promote your product can be incredibly effectiv, just look at Diddy and Effen vodka or 50 cent and vitamin water. They promoted their products a lot and it really paid of for the brand.
Definitely! There are some things you have to consider:
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Hi Gurvinder - thought I would chime in on this as our agency has done Influencer Marketing in Canada for over 15 years. The short answer is yes, any product/industry could benefit from the voice of an advocate or "Influencer" - especially as @Christian mentioned ones who are offered flexibility, creativity, and interpretation. So go for it! A much larger consideration is the reach of Influencer content (the size of the audience and the clout/relevance of the Influencer's voice). We recommend you amplify great Influencer content yourself by promoting the best of it with paid advertising support. Don't rely solely on the claimed reach of the Influencer... good luck!
In the product placement market in regards to physical consumer products, influencer marketing is effective especially through the social media channels that emphasize on pictures and videos since they can directly present and capture the product's physical features and uses while SaaS is not completely able to compete being that it's not something a simple picture can describe without words. However, there are different types of influencers depending on the industry and they utilize different platforms such as industry specific forums, Reddit, etc. which does lend a helping hand to the marketing aspect if put in front of the correct audience. You'll have to research into the influencer and reach out individually to see if they satisfy your requirement and then analyze if they will be of use to you.
depends on industry. For fashion yes it works because fashion itself is defined by influencers.
I would also like to sneak in on this question. I currently run a platform which combines micro-influencing with online marketing. I've done research on my own platform and other influencer platforms and the bottom line is allways that the return on investment rates are like businesses have never seen before. Influencer marketing is still growing and keeps developing. The advertisers get more and more options which makes the promo more effective. Now micro-influencing aka friend-to-friend marketing, considered to be the holy grail of online marketing, is coming up, there is all the more reason to jump on board of influencer marketing.
Gurvinder- My customers are brands who leverage our platform to deliver influencers products. The data we get supports the growth and expansion that happens if you do it properly. We did see misuse most of the time before we did a mobile automation of the process (business.ziploop.com). It become a better automated process if it is for products with size, color and style needs which helps that ambassador select specifically what they need (many have closets of stuff that doesn't fit or styles/colors they don't like). We do see products on pros, productions and events that help create demand and uses for social media to enhance the brand. Good luck- Peter
With out a clear sense of your product and its potential audience you can do a lot of stumbling around in the woods to find germane influencers.....once established though they can certainly help to get the word out there.
Having spent hundreds of thousands of dollars on influencer marketing I would agree with the value but also caveat that the space has become incredibly saturated. We often use Daniel Wellington as a prime case study as they were innovative in their approach basically gifting free watches to fashion bloggers, influencers, and anyone that had a pulse. This flooded the market with product and led to millions of social media impressions. This has become significantly more expensive as top influencers can charge anywhere from $15k (for a top fashion blogger with 2mm followers) to $300k for someone like Kendall Jenner and this is only for a single Instagram post. Given the saturation level consumers are now well aware that they are constantly being marketed to and for some this is a big turn off. People also now realize that Instagram, for example, has become increasingly fake with people purchasing followers, like, comments, etc. so I believe is becoming less organic leading to fewer sales conversions.