Have you ever heard the word influencer marketing? If you are a digital marketing expert, you must familiar with the concept of influencer marketing. Actually every day we live and breathe influencer marketing but we often forget that not everyone knows what it is!
That’s what this blog post is for. Here I will share the definition of influence marketing & explain how it differs from other forms of marketing.
According to Wikipedia, influencer marketing is defined as:
“Influencer marketing is a form of marketing in which focus is placed on specific types of individuals rather than the target market as a whole. It identifies the individuals that have influence over potential buyers, and orients marketing activities around these influencers.”
Rather, than marketing directly to a large group of customers, we instead inspire/hire/pay influencers to get out the word for you.
There are two other forms of marketing:
- Social Media Marketing
- Content Marketing
Most campaign of social media marketing has some sort of social media component. In that campaign, influencers are expected to spread the word through their personal social channels. Many campaigns also carry a content element in which either you create content for the influencers, or they create the content themselves.
Although some people use word-of-mouth marketing and influencer marketing interchangeably, there’s a true distinction between the 2 disciplines. Whereas influencer selling is that the conception of partaking key people to leverage their influence among friends and family, word-of-mouth marketing is the actual avenue by which this communication takes place.
So, the truth is that all mostly include word-of-mouth marketing but not all word-of-mouth marketing includes it.
What is the Difference Between Advocate Marketing and Influencer Marketing?
There is a lot of difference between Advocate Marketing and Influencer Marketing. They are not the same in any way. Advocate marketing focuses on encouraging loyal customers to share their love for your product or brand. This may happen by way of product reviews and customer references.
In Influencer marketing, we mostly focus more on finding influencers. Influencers are always paid in some way, either with money or free products. On the other hand, Advocate Marketing focuses less on payment. It focuses more on driving brand loyalty.
Key Components of Influencer Marketing
Main components are as follows:
- Identify key components or product influencers, either manually or through a platform like TapInfluence.
- Also, Create a promoting campaign directed at those influencers
- Create a secondary promoting campaign for the influencers to drive larger awareness to a bigger set of target customers
- Track key metrics with reference to reach, sales and complete awareness
Benefits of Influencer Marketing
It can help businesses:
- Get 3 to 10 times more conversions.
- Boost brand awareness.
- Grow sales and revenue.