in a digital age
Present-day social networking sites have dramatically affected how people receive information and news. With more than 4.5 billion people on social media, traditional marketing alone isn’t enough. Brands are faced with a wealth of challenges as audiences are overwhelmed by brand messages, fragmented in their media channel selection, often resulting in failure to get their messaging seen and heard by target audiences.
So how can you achieve cut through?
In this current digital age, brands need to adopt an integrated marketing strategy with influencers at the centre. With influencer marketing worth an estimated $10 billion in 2020 it’s no wonder influencers are cutting through into mainstream culture in a way that would have been hard to imagine a decade ago. Influencers range from celebrities with millions of followers to more micro-targeted professional or non-professional peers with a few hundred followers and tight social networks.
Influencers are the connection point between brands and their target market and real people are crucial to building genuine relationships. You’ve heard it before, but authenticity is key – consumers are much more likely to positively perceive a message that comes from a trusted source versus a sponsored brand post. The power of influencers is clear: 70% of millennials are influenced by recommendations from their peers and 25% of Facebook users and 40% of Twitter users have made a purchase based on influencer recommendation.
Some of the biggest brands today are using influencers at the forefront of their campaigns. On International Women’s Day, Microsoft partnered with National Geographic to feature 30 photos taken by wildlife influencers, driving more than 3.5 million likes in one day. The e-commerce site Revolve has accumulated a rota of over 3,500 influencers, driving approximately 70% of sales, despite only making up 25% of their annual marketing budget. Currently, almost half of digital marketers spend a minimum of 10% of their budget on influencer marketing. This is set to increase in 2021 as brands are becoming more daring with their approach and engaging with industry-specific channels like Pinterest and Twitch, as well as the more mainstream channels like Instagram, Facebook, LinkedIn.
As digital and social media continue to be leveraged by marketeers, brands are focusing their attention on what delivers value. The right influencer can reach your target audience, build trust and drive engagement boosting ROI but the wrong influencer can damage brand image. That’s why it’s so important to build a bespoke strategy that works for you – there’s no one-size-fits-all approach to this marketing strategy.
It’s safe to say influencer marketing isn’t going anywhere but the landscape is constantly evolving. It’s important that companies keep up to date with platform trends and stay one step ahead of the competition. Mega, Macro, Micro, Nano ambassadors all have their own unique benefits and understanding what works best for your brand and target audiences is key.
For lasting impact, it’s important to guide each client with a tailored strategy specific to their individual needs. We encourage our clients to refrain from one-off product placements and instead create on-going, meaningful connections with their customers through the right influencers.
The digital age has revolutionised the way brands reach consumers. At 10 we continue to help our clients make the most of influencer marketing to bridge the gap between brand and consumer.