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Social Media Influencers according to Wikipedia are “people or agencies who have a purported expert level of knowledge or social influence in their field” (para. 1).
In laymen's terms – Internet Rock Stars!
This post is the third assignment from my marketing course at Southern New Hampshire University (SNHU).
This assignment is looking at influencers and influence marketing to see how it impacts the things I watch, the products I buy, and other actions I may take based on a recommendation from someone on the Internet.
This assignment asks the following questions:
- What do you notice about this type of marketing?
- What strategies are they employing?
- What role do these influencers play in marketing?
- How does the use of marketing perspective impact the relationship between the company and consumer?
So, let's start from the top…
Actually, before we get started, I will mention that there are a handful of influencers I follow. For instance, my man, Gary Vee, Neil Patel, Tai Lopez… Oprah Winfrey? Yeah, I think she is an influencer as well.
What do you notice about this type of marketing?
When you think influence marketing, there is one word that comes to mind…
That's to say, this new generation has found a way to market or brand themselves because MOST of the influencers you see these days are teens and young adults.
I also notice that this marketing pays an awful lot of money to have influences to mention their products.
As stated in the video, there is currently no way of actually identifying an influencer's worth. This may have a lot to do with the actual outcome of the marketing.
If that brand expands its reach 20X, then you could say the influencer is worth whatever 20X equates to in marketing dollars.
What strategies are they employing?
A couple of known strategies of Tai Lopez is his huge giveaways on Instagram and his continuous interruptions (advertisements) on YouTube.
These strategies are designed to reel you in a bit closer and have you nearby for when there's something he wants you to buy.
In the case of YouTube, it is actually a course or a book that he wants to “recommend” to you.
In fairness, I will say that Tai Lopez is one of the smartest guys you will ever come to know. His knowledge and intelligence alone truly inspire me. It's one of the reasons I follow him.
What role do these influencers play in marketing?
Influencers obviously play a huge role in marketing. With the size of their followings, one simple recommendation could bring tremendous wealth or followers to a business or brand.
I mean, it's an actual business on Instagram where people pay brands to sponsor their post. This gives the message a reach it never could have achieved on its own.
Influencers play the role of an expert in the field. This knowledge creates trust. With such authority, influencers are able to propel brands with a single tweet.
How does the use of marketing perspective impact the relationship between the company and consumer?
This depends on how well the company understands the consumer and how well the consumer trusts the brand. In a perfect world with all stars aligned, the communication between company and consumer is seamless.
Influencers are there to bridge the gap between brands and their potential customers in the form of endorsements. Take Oprah for instance, when she recommends something to her millions of followers, you best believe they are going to follow.
This is Influence Marketing, the newest and most lucrative form of advertising that exists today. It's a strategy that is open to all of those who can generate the largest followers. And for those that do, they become our latest Internet Rock Stars.