Influencer marketing is focusing your energy, money, time in driving your brand's message to the wider world via key leaders.
Rather than the traditional method of marketing directly to a larger audience. Instead, you inspire/hire/pay key influencers to get out the message for you.
@centmuru of TECH.CO shared some great stats on this very subject via an infographic:
3% of people can create 90% of the impact on the Web.
A potential 650% return on investment via Influencer Marketing.
So what's all the fuss about?
When you have somebody you trust and follow, whether that be a friend, celebrity or influencer of some shape or form, and they tell you of a good place to eat or to go on holiday. The likelihood of you going increases significantly.
This isn't a new idea. Organisations have known for a long time that an easy way to win new business is through a recommendation. That's why there are so many schemes to reward people for recommending others. It's also why in recruitment we prize and value good candidates who've recommended other potential candidates.
So what is new? Well, the fact that there are now people who have such a following on and offline, that one positive word from them can influence the decisions of hundreds if not thousands of people.
#SocialChain 'TheKidsWho Decide What All the OtherKidsTalk About.' Have taken this to the next level and it's not through hiring superstars to like, share and market its client products. They've amassed a vast following from kids who like 'Harry Potter' or video gaming, and they utilise those groups to amplify their client's message.
So what's the key takeaway? Pay for Key influencers to share your message. Maybe! Or as part of any marketing strategy, whether that be to share a message, a new idea or product, or even to hire great talent, you've got to 'start with the end in mind'. Who is it, which demographics do you want to target and what are the best and most effective channels to reach them? If a key influencer is going to help, then what steps can we take to influence the influencer. Or do those key influencers already sit within your organisation and they just need to be activated?
We're looking for a win-win situation here and throwing money at one element of the marketing strategy will only answer a single part of the question.
Influencer marketing is going to continue to make up an important part of the future of engaging with and inspiring talent. But it will be within a robust and refined talent acquisition strategy where it will perform best, add real value and provide tangible and measurable statistical data.
It will probably comes as no surprise to you (or your CEO) that traditional banner ads have gotten increasingly ineffectual. In fact, according to Google’s Display Benchmarks Tool, the average click-through rate (CTR) of display ads is now only around 0.06%, and 47% of online consumers now use ad blocking technology, according to the Reuters Institute. This means that if you’re paying for exposure via banner ads, you’ve lost nearly half your audience right out of the gate.