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Literature review on influencer marketing
Literature review on influencer marketing
Literature review on influencer marketing
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Influencer marketing is a strategy worth trying for ecommerce stores.
With tough competition and a global market, brands are seeking new ways to turn hesitant shoppers into loyal customers. That’s why store owners are investing heavily in influencer marketing.
“Significantly, the success of influencer marketing has occurred not just because of the value it's shown as a marketing tactic. In fact, research has shown influencer marketing’s effectiveness at meeting a myriad of goals,” states Entrepreneur contributor Kamiu Lee.
There’s more than one way to achieve your business goals with influencer marketing. Here are five tactics to get you started today:
1. Sponsored Ads
Advertising gets a bad reputation. Consumers usually associate them
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Affiliate Marketing
Influencer marketing isn’t always about brand awareness. You want your strategic actions to actually produce sales for your business.
By combining influencer and affiliate marketing, you can build a mutually beneficial relationship with the influencer. The individual can earn cash for every sale she drives to your store.
This partnership ensures you’re not throwing money at a partnership without a measurable goal. Plus, the influencer can rack up more money than a normal contract.
“Custom affiliate links can be generated using an influencer platform, while marketers can choose to add commission to collaborations…[C]ompanies can benefit from the awareness and personal messaging of a pure influencer marketing campaign, while at the same time being able to track the direct revenue that comes with affiliate marketing campaigns,” writes Nicole Michaelis, chief marketing officer at Referanza.
For affiliate marketing to work well, state your expectations upfront with influencers. Layout the process and highlight the commissions for each sale.
Understand that not all influencers will not accept your agreement. And that’s okay. Take the time to search for individuals that fit your marketing scheme along with your
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Coupled with influencer marketing, you’ll see your bottom line increase next quarter.
3. Influencer Takeovers
Social media has opened the doors for brands to communicate with customers. It’s a channel dedicated to interaction and where influence thrives.
If a consumer has an issue, they can contact your team in a couple of clicks. If you want to highlight your latest product, you can promote it in your feed instantly.
Now, when you add influencers to the mix, you engage in an opportunity to expand your reach and visibility. Social media becomes more than just a broadcast channel; it turns into an engagement outlet.
Influencer takeover is handing your social media controls to an expert in the field who will engage with your audience. The goal is for the individual to add new content and take your fans on a different
Viral marketing is a form of word-of-mouth marketing that aims to result in a message spreading exponentially and campaigns work when a message is spread exponentially and it results in a desired outcome for a brand (Stokes, R., 2010). Viral marketing uses the internet to disclose and spread the company’s products or services. It harnesses the electronic connectivity of individuals to ensure marketing messages are referred from one person to another (Stokes, R., 2010). There are two types of viral marketing. Organic viral campaigns spread with no input from the company who wants to advertise. The message or product/ service being sold by the merchant are passed around in a viral nature without any intention from the marketer (Stokes, R., 2010). In organic viral marketing, no planning was done on how to broadcast the products or services and those who expose the products or services made a choice just to pass it around by word of mouth in the internet. Amplified viral marketing on the other hand have been strategically planned, have defined goals for the brand being marketed, and usually have a distinct method of passing on the message (that can be tracked and quantified by the marketer) (Stokes , R.,2010). To go viral, sellers or services provider have to define the aims of the campaign. Sellers or service providers have to decide if the company wants brand awareness, drive traffic or make sure customers avail of the products or services. Secondly, the company should plan the message it wants to go viral. The message has to be unique and easily noticeable by consumers. Third, the message you want to convey must be passed on to others efficiently. The company has to provide incentives for sharing. The greatest ince...
It depends entirely on how you use it. If you have a product you believe in but don't have the budget to promote it, ClickBank can be one way of getting it noticed. If you want to affiliate with one of these businesses, ClickBank is an easy way to do so. ClickBank also gets a lot of criticism because of the way they pay for sales.
Social media in marketing is used as an apparatus that builds an identity for a brand and gives awareness that they thought they could have. It does not only respect buyers, but also customer allegiance. Social media is widely-ranged so it can be used in whatever way that best conforms to the strategy and wants of the business. In accordance to the social media marketing report of 2014, a considerable (64%) of marketers use social media for at least 6 hours or more and 41% for 11 hours or more weekly, more importantly nearly (19%) of marketers use up to 20 hours each week on Facebook, Twitter, LinkedIn, Instagram and many more. The report also showed 7 social media platforms that led in 2014 which are Facebook, Twitter, LinkedIn, Google+, Youtube, Pinterest and Instagram.
If you ever thought about influencers ' social media success, you 've probably noticed a number of factors that are involved in the influencers popularity. There are certain common things which take their personal brands to the next level such as a huge number of followers, a dedicated audience, and the regular re-sharing of their content.
Mr. Alan Wilson is a business professor for the University of Strathclyde. The author is an expert because of his education and experience. Wilson summarizes the book The Business of Influence, explaining the importance of all employees taking responsibility in the use of social media and how employees are all influencers. This article will help the paper explain how all employees are influential.
It 's no secret that traditional marketing practices have declined and consumers are now more skeptical than ever. Brands have had to find ways of connecting with potential customers in a more authentic way.
Social media is an outlet that allows a company to introduce new products, control the speed of how they want to introduce their products and free advertisement. Sending out a tweet or putting up a status would let your customers know about a product that is released. This benefits companies because they spend less money on televised commercials, which takes more time to produce and will not reach as many generations that it could by using social media. Any social media site is free, and it takes less than 10 seconds to put out a post on any website. Facebook has also launched Facebook advertisements, which assist advertisers by showing advertisements to a user based on demographic factors, such as location, age, or gender, and which can further engage the audience by incorporating social context into advertisements, such as displaying when someone’s friend has liked an advertiser’s Facebook page (Li, Lin, & Chiu, Fall2014) . There is nearly 100 million daily active snapchatters and growing. Teenagers are constantly on their phones checking their pages so there is no way they will not know about the product being released. Marketers can discover potential customers for market positioning by filtering the content that online users mention or discuss (Li, Lin, & Chiu,
Larger businesses can afford to have celebrities promote their goods and their brands. Your small business is going to struggle in this regard, but you may be able to cross promote with another influencer if he or she operates within your industry or niche area. Here is a guide to using influencers for companies that wish to dip their toe in the world of Instagram influencers.
According to Nielsen, 92% of consumers believe recommendations from friends and family over all forms of advertising (Whitler 2014). Advertisers are trying to capitalize on this by communicating their messaging through social media influencers, who are trusted nearly as much as a friend. According to a joint study by Twitter and analytics firm Annalect, 56% of users surveyed said they rely on recommendations from friends, while 49% said they rely on influencers (Swant 2016). Taking this trusting relationship and combining it with a large following on one or more social networks, it is no wonder advertisers are paying these influencers to post favorably about their brand or product. This marketing technique has taken off and become very popular in the advertising community. Greg Manago, co-president of content and entertainment for North America at Mindshare said, “Influencers are such an important part of what brands are doing today. The question (from clients) isn’t, ‘We want to do something with influencers; what do you think?’ It’s, ‘What’s the influencer strategy for this program?’ (“Influencer Marketing…” 2016). The large majority of advertisers are investing in influencers as a May 2015 study by Schlesinger Associates for Augure found that
Internet Affiliate Marketing In the early days of ecommerce, businesses set up their site, bought a domain name, placed banner ads and hoped for the best: press coverage, word of mouth, banner ad click-throughs and eventually a closed sale. Life got more complicated quickly as banner ads proliferated and people managed to ignore them with increasing skill. Internet marketers thus had to become more savvy, and the affiliate model was introduced. The model: get other sites to reference your site and increase traffic and sales with “a little help from your friends.”
According to Heath and Heath (2008), consumers seem to have a mistrust of marketing resulting in a disconnection between the agenda of brand managers and consumer interests. This mistrust lies with the consumer view that marketers are pushing for “excessive consumption” rather than really understanding attitudes and perceptions that lead to satisfying the needs and wants of consumers (Heath & Heath, 2008). Today, consumers are opposed to push strategies, and prefer making decisions about brands more independently. Hipperson (2010) has found that companies may have to “change from delivering push communications to creating pull interactions” (p. 263). This reflects the importance of listening to what consumers are demanding and then implementing strategies that will satisfy this ...
The first advantage of using social media in business is increasing brand awareness. Social media can help business to build their brand awareness by increasing interactions with a business brand. Brand awareness means the total percent of a target people who know the company exists and what the company offers of products or services. When the brand awareness is increased, the possibility of buying is increased. Thus, efforts should be made to make the brand a part of the consciousness of customers. For example, Coca- Cola is one of the best companies that enjoy unusual...
...but not the least, social marketing can help to spread information to increase visibility. All businesses aim to increase their audience. Social marketing has now taken over as the online version of word of mouth. Harnessing it in the right way results in more customers, more sales, and a higher level of visibility online than ever before.
Reviews and feedback on social media are also having an impact on businesses on modern society by letting the consumer speak their opinion on a company’s product or establishment. While there are negative effects, they are minimal for large companies. On the other hand, for small businesses it can be the deciding factor between bankruptcy and expansion. Lou Dubois stated "It is important it is made clear to the influencer that they are free to say whatever they want about their experience with the company. Companies also need to be very mindful that influencers are people." (Dubois) With positive,
Social media avenues are a new, upcoming, and popular way to advertise for businesses and for people to connect to each other. Alexis Ohanian once said that "Being effective at social media, whether for business or personal use, means capturing people who have short attention spans. They 're only a click away from a picture of a funny cat, so you have to make your thing more compelling than that cat. And that can be a high bar." (Ohanian) Powerful usage of social media can have a big impact.