One particular form of social media marketing is

Info icon This preview shows pages 65–67. Sign up to view the full content.

reliable source of revenue. One particular form of social media marketing is Influencer Marketing. Also known as Influence Marketing, this new-age marketing method observes consumers valuing the opinions of other consumers in order to shape their buying behaviour. The millennial consumer is cynical towards TV commercials, email-marketing campaigns, and other traditional forms of advertising. In lieu of heeding the advice of organisations, consumers look to popular personalities, brands, and significant figures, namely influencers, who boast enormous social media followings. This is why Influencer Marketing is extremely effective. Launching an Influencer Marketing campaign involves an organisation collaborating with an influencer to promote their products and services, usually via a financial exchange. An influencer for example, may be asked to wear, consume, or talk about a product or service developed by an organisation. The expectation is that the organisation will obtain an increase in sales (or following) owing to the hype and public awareness raised by the influencer. Influencer Marketing Benefits Influencer Marketing provides many advantages to an organisation. Listed below are the key benefits: Powerful Marketing Method According to McKinsey, “marketing-induced consumer-to-consumer word of mouth” produces more than double the sales of alternative paid forms of advertising. There is no doubt that Influencer Marketing is a powerful tool, as it can lead to an exponential increase in sales / and or followers. Loyal followers of influencers are predisposed to favour any product / service the influencer purchases simply because they admire them or aspire to be them whether that aspiration is conscious or not. For example, if a fan of an influencer notices him/her supporting the purchase of a dress by brand X, it becomes more likely that fan will buy it.
Image of page 65

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

59 WORKBOOK | © 2018 SOCIAL MEDIA COLLEGE 10118NAT DIPLOMA OF SOCIAL MEDIA MARKETING | MAINSTREAM SMM_V1.2 Enhanced Credibility Once an organisation collaborates with a positive, upstanding influencer, the organisation is also,instantaneously upheld in a positive light. This is because the organisation is associated with the influencer through which the two now share common attributes and value. Influencer Marketing Constraints Despite the success of Influencer Marketing, there are several pitfalls to consider before engaging in this visionary method of marketing. High financial cost Owing to its huge rewards, Influencer Marketing can be expensive, especially when it comes to extremely notable influencers who have enormous followings, high credibility, and are accustomed to huge financial reward. Risk of ‘false’ influencer A ‘false’ influencer is an ‘influencer’ who may appear as a genuine influencer due to their deceivingly large following, deceitfully ‘genuine’ comments, or misleading account information. If ignored, these accounts are harmless.
Image of page 66
Image of page 67
This is the end of the preview. Sign up to access the rest of the document.
  • Fall '17

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern