I never quite understood what a socialite was until I became a marketer. The concept was so foreign; like what do they do? How? When? Think Nicole Richie & Paris Hilton, 10 years ago. If you were not working for Louis Vuitton or in lifestyle marketing, it’s highly likely that this concept may have evaded your understanding too. Socialites were the influencers of the yesteryear, carrying clout from being born into famous, wealthy families that everyone aspired to have been born into. Fast forward to 2019 and the new-age influencers are none other than the girl next door trendsetting, building credibility, and a good following.
To effectively reach their audiences, social-savvy brands now need only to market to a few credible influencers who in turn spread the word like a veld fire to their social media followers. As customers, we tend to prefer recommendations from the people we have come to trust and it is easy to see how and why influencer marketing budgets have been tripling. More recently, however, brands are opting for micro-influencers with a significant-but-not-so-massive following in favour of being authentic and more relatable.
As an entrepreneur, with no significant financial muscle to speak of but a need to grow at an astronomical rate, influencer marketing should be on top of your growth marketing strategies for the following reasons;
1. it has stood the test of time
There’s no doubt marketing has evolved enormously and looks almost nothing like it used to 20 years ago and there are principles that have stood and may continue to stand the test of time like brand/influencer collaborations. Social Influencers may seem like the new kids in town but they have been around for generations even way before Caroline Schermerhorn Astor made it popular in the 19th century.
2. IT’S EFFECTIVE
A Nielsen study revealed that 92% of consumers prefer recommendations from real people they trust and admire more than brand promotions and adverts. Influencers make it easier for businesses to build trust, engage and connect with your customers on social media. Their lifestyle posts always seem to rise above the clutter and if you are anything like me you’ll agree to have thought they are looking straight into your eyes and calling your name.
For a business with a small budget, influencer marketing can stretch it further through its ability to reach audiences beyond the norm.
Any social media initiative needs content to be effective. I see this as social media being that red shiny sports car and content being the fuel. This is where influencers play a critical role by creating and distributing content for your business, something that would have otherwise demanded a size-able chunk of your marketing spend.
3. Global reach
The internet as a whole has wiped away any geographical borders that would have made global expansions a complicated affair. We do not need to study Chinese commercial law just to sell one product to a customer in China. There are ‘geo-fluid’ influencers who have built connections across various countries and will make it so much easier to reach global markets with your products.
Over and above its ability to reach and authentically connect with customers across the globe, drives sales. Studies show that influencer marketing not only drives online sales but offline too, yielding a return on investment that is 11 times greater than other forms of online advertising.