Are You Ready to Take Your Marketing Into the 21st Century?

Human history is marked with numerous inventions which have irrevocably changed the way we live our lives. From the invention of the printing press which brought the written word to the masses to the invention of the smartphone which put the powerhouse of a computer in your pocket, our history has been transformed by new inventions. As the printing press changed the way humans shared stories, so too did the smartphone. It, alongside the Internet, brought with it the ability to transmit messages instantly with a few swipes of the finger. Social media similarly transformed communication and the ways we share data. Instead of waiting for a physical paper to be printed, news media is now available 24/7 and share instantly across different web 2.0 platforms. Why is this significant? Because it changed not only the way we communicate with each other, but also the ways we communicate with our customers. Social media has changed marketing significantly.

Digital marketing is now not only a ‘nice to have’ as part of a comprehensive marketing strategy, but an essential in today’s marketplace. This truth remains whether you are a physical brick and mortar store or e-commerce. Gone are the days when word of mouth advertising is sufficient to remain ‘top of mind’ with your demographics. But not all is lost for those most comfortable with this means of reaching out to customers. The concept behind word-of-mouth advertising has stayed strong throughout changes in the marketing landscape. Just the way we look at it has changed. Today, instead of hearing about the new clothing store downtown from a neighbor, you may just hear about it from an influencer—who may or may not even be in your same state, let alone the same city. It’s called ‘influencer marketing’, and it’s made great waves in the world of digital marketing.

Influencer marketing is born from social media marketing, and blends traditional marketing concepts with web 2.0 platforms. Experts in a field or those with a level of social influence in online channels will advertise your brand with the use of product placement and/or endorsement. Influencers are those who have demonstrated to have a power to impact buying habits of potential consumers. These people or organizations may have a significant social media following, excellent track record of successful brand endorsements, and overall established credibility that will be favorable for your brand.

Some of the most common places for influencer marketing are places like Instagram, YouTube, and Facebook, although its presence can be seen throughout social media. Each of these platforms have specific policies for influencer branded content in part to provide transparency regarding paid promotion.

While there is a great deal of opportunity to incorporate influencer marketing into your strategy, it is one that is not without its risks. There are caveats regarding authenticity of this method, as bots and other low-quality followers can artificially inflate the level of influence a party has. As with any campaign, be sure to vet your potential leads and use discretion when working with an influencer.

The potential value add for your marketing strategy by incorporating influencer marketing is massive. The market has grown from $1.7 billion to over $16 billion from 2016 to 2022. This is great news for brands, as those offering influencer services have increased by 26% in 2021. Are you ready to bring your marketing strategy into the 21^st century?