Influencer marketing (also influence marketing) is a form of marketing in which focus is placed on influential people 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.
Influencer content may be framed as testimonial advertising where they play the role of a potential buyer
themselves, or they may be third parties. These third parties exist either in
The supply chain (retailers, manufacturers, )
or may be so-called value-added influencers (such as journalists, academics, industry analysts, professional advisers, )
Influencer marketing derives its value from 3 sources:
- Social reach: Influencers are able to reach millions of consumers through their social channels and blogs.
- Original content: Influencers produce original, and oftentimes effective, marketing content for the brand.
- Consumer trust: Influencers maintain strong relationships with their audience, who have a certain level of trust in the influencer’s opinions.
Some marketers use influencer marketing to establish credibility in the market, others to create social conversations around their brand, others yet to drive online or in-store sales of their products. The influencer marketer can also take to marketing diversified products and services leveraging, leveraging upon the credibility earned over time. Therefore, the value that influencer marketing creates can be measured in multiple ways. Some marketers measure Earned Media Value (EMV), others track impressions, and others track Cost Per Action (CPA).
Influencer Marketing, as increasingly practiced in a commercial context, comprises four main activities:
- Identifying influencers, and ranking them in order of importance.
- Marketing to influencers, to increase awareness of the firm within the influencer community
- Marketing through influencers, using influencers to increase market awareness of the firm amongst target markets
- Marketing with influencers, turning influencers into advocates of the firm.
Influencer Marketing is enhanced by a continual evaluation activity that sits alongside the four main activities.
Influencer Marketing is not synonymous with word of mouth marketing (WOM), but influence may be transmitted in this manner.
Thus WOM is a core part of the mechanics of Influencer Marketing...
There are substantial differences in the definition of what an influencer is. Peck
Defines influencers as "a range of third parties who exercise influence over the organization and its potential customers".
Similarly, Brown and Hayes
Define an influencer as "a third party who significantly shapes the customer's purchasing decision,
but may never be accountable for it.".
Keller and Berry note that
Influencers are activists, are well-connected, have impact, have active minds, and are trendsetters,
Though this set of attributes is aligned specifically to consumer markets.
Exactly what is included in Influencer Marketing depends on the context (retail or B2B) and the medium of influence transmission (online or offline, or both). But it is increasingly accepted that
Companies are keen to identify and engage with influencers.
As Keller and Berry note,
"Business is working harder and paying more to pursue
People who are trying to watch and listen less to its messages."
Targeting influencers is seen as a means of amplifying marketing messages, in order to counteract the growing tendency of prospective customers to ignore marketing.
