What has been the most effective tool for marketers when it comes to converting leads into customers? Brand advocacy, of course! Both customers and the media are more interested in recommendations from third-parties than your company executives.
The rise of social media has allowed brands to connect with consumers on what feels like a more natural, organic level: advertising no longer attracts these consumers the way it once did.
In 2016, influencer marketing beat all other strategies.
Earlier this year, Cision Canada found that a new generation of news-readers (those 18 to 34 years old) are turning to influencers for entertainment, news bites and product information in a way that traditional news outlets should not ignore.
Expect these programs to become costlier as the concept matures, but with the average earned media value from influencer programmes equalling $9.6 for every $1 spent, the tactic still remains cost effective.
Marketing managers are preparing to adjust their budgets accordingly, with projected spending in this area increasing by almost 60% for 2017.
A word to the wise: monitor your industry to ensure your brand is collaborating with the right influencer for maximum results.
Brands will have less control over the message
Whether receiving product or payment for posting an endorsement, influencers must now disclose all sponsored content or they may be breaking Canadian law. But audiences are less wowed by an advertisement than an unbiased recommendation, and so influencers will struggle to maintain their credibility. Just as you would not tell a journalist how or what to write, influencers will need expanded freedom to create their content. A side effect of all this freedom is that brands will have less control over the message.
More user-generated content
Brands are already taking advantage of user-generated content with a number of different strategies hinting this will be a rising trend in influencer marketing in 2017.
GoPro’s instagram is filled with images and videos captured by their customers, while other brands such as Disney and Cadbury’s Crème Egg are encouraging user generated content with custom Snapchat filters.
To discover more about new tactics and opportunities to improve your product marketing, download our whitepaper today.