On January 26, a tweet from Elon Musk sparked a buying spree for GameStop shares. Elon just said “Gamestonk !!” tweeted. along with a link to a Reddit thread.
On this thread, r / wallstreetbets recommended buying the stock targeted by hedge funds with large volumes of short sell orders. Buy orders from retail investors raised the price, forcing hedge fund managers to buy at higher prices to cover their positions.
The buy / buy-to-cover cycle created a “short squeeze” phenomenon. Retail houses like Robinhood and E * Trade stopped trading stocks. But not before the hedge funds have lost billions of dollars.
Private investors phoned Foul, accusing the brokerage firms of protecting the rich at the expense of the individual investor. Robinhood took on a whole new meaning and the US Congress called for an investigation.
That same week, the Justice Department announced that it had brought charges against a person for meddling in the 2016 elections. His crime? He shared a meme.
Social media influence marketing, which is used to conjure up images of someone like Kim Kardashian recommending a beauty product, has taken on a whole new meaning.
Why things of influence?
What does this all mean for influence marketing, which is expected to be part of the mix for nearly 68% of all marketers in 2021?
And what does that mean for B2B marketers?
According to a report by TopRank, 74% of B2B marketers agree that influence marketing improves the customer and prospect experience with their brand.
The study also confirmed what many B2B marketers had already discovered, that B2C influence marketing tactics do not translate directly into B2B.
The research also found that B2B marketers often struggle to strategize, incorporate content, and measure success in the field using their own in-house resources.
There are many benefits to using influencers to promote your brand.
Influencers who are thought leaders in their field are followed by product consumers looking for new insights, fresh ideas, and industry insights. Prospective customers also look for trustworthy reviews of the vendors and products available.
When a thought leader makes your brand stand out, it increases your credibility. It can even help promote your business as a standalone thought leader. One of the other main benefits of working with an influencer is reach. The influencer can increase your own reach over your organic efforts by a factor of 1000.
While influencer posts can generate leads and even lead to closed sales, a successful strategy maps posts and content to each stage of the buyer’s journey.
Find your who’s who
When looking for an influencer to work with, it’s important to make sure that they and their audience match your ideal prospects.
The relevance to the audience is far more important than the size of the audience. This also applies to the engagement of the public. Engagement includes likes, votes, comments and approvals.
Domain know-how is also high on the list. While an influencer’s credentials or background is important, these attributes shouldn’t be a determining factor in finding a fit. Influencers built their following and reputation for a reason.
If values like social values are important to you, make sure the influencer aligns with those values. Since an influencer’s charisma and personality will have an impact on why people follow them, their feed can reflect personal opinions outside their area of expertise.
Of course, you also want to make sure that the influencer posts regularly and is able to produce short-form content.
The cost of influence
Working with a social media influencer to promote your product or brand usually comes with a fee paid to the influencer. This can range from around $ 1000 per post to a staggering $ 1 million. However, sometimes influencers present your brand or product for free if they find it compelling and it adds value to their audience.
The fee, usually derived based on the number of followers, is generally lowest on Twitter and highest on a blog, with posts on Facebook being the focus.
For more mature influencer programs, tools to find, recruit, manage influencers and measure results are a worthwhile investment.
There are many such tools. Some free services are available, others range from $ 10 per month to $ 1500 per month for larger accounts.
If you are just starting out in influencer marketing, you can also reach out to influencers that you follow directly and see if there is a fit.
Put everything together
As with any successful marketing program, influence marketing should only be part of an integrated strategy.
Since marketing is most influenced online, integration into social media goes without saying. Social media marketing and thus influencer marketing programs should be closely coordinated with your content marketing.
Influencer marketing increases your own content efforts through influencer reinforcement. Don’t overlook the opportunity to collaborate with your influencer partners on creating content.
Aligning SEO with influencer programs is also crucial. Influencers, either by design or by chance, are ranked for certain keywords. Make sure the words and phrases your prospects are looking for are also being sought by your influencers’ followers.
For the best results from influencer marketing, invest in an ongoing strategy. Only 5% of marketers who get involved in temporary projects are successful, compared to a 60% success rate for those who get involved in ongoing campaigns.
Successful marketers benefit from a comprehensive strategy that promotes their message through content, SEO, direct email or news, social media, and offline locations. Partnering with an influencer can be a perfect way to add credibility and reinforcement to these efforts.
Do you need help navigating the social media program? Town Crier can help. Call us at 214-732-7770, email [email protected] or visit www.towncriergroup.com