The power of influence
Our digital expert Jack Taylor specialises in influencer marketing and the digital marketing strategies for our clients. One thing that keeps the clients happy is seeing the ROI from a positive influencer campaign.
Jack shares his thoughts on the landscape of social influence and what we can expect in the future.
In 2020, the influencer marketing industry in the UK was estimated to be worth around £2 billion. I believe the influencer market will continue to grow, even while we’re seeing the rise of AI influencers and technology.
Social influence on products with high-profile individuals has always been around from Anna-Nicole Smith pushing Guess jeans to George Foreman’s Lean Mean Fat Grilling Machine to Michael Jordan and Nike. But what we’re seeing now with the rise and rise of social media is brands utilising lesser-known people. More and more brands have been turning to micro influencers to promote their product, spreading budget across several of them rather than allocating that budget to just one person.
Why? It looks good to the client when you can show them that the micros had a better engagement. But, has that done anything? Has it sold product, moved the dial, influenced anyone? Micros aren’t always the best option, and the same with the high-profile accounts.
The key is to connect with your target audience with someone or people who have genuine social influence. This isn’t always easy to find, but when you do, these people have the influence to nudge the audience in the direction you want them to go. There’s also the sales ambassador angle, talent who can take a cut of the sales is far more likely to go that extra mile if they know there’s commission involved.
It takes time to tap into these networks and identify the influencers with real power but when the client is expecting results, it’s worth it in the end.
A great book on social influence called Nudge: Improving Decisions About Health, Wealth, and Happiness written by Richard H. Thaler and Cass R. Sunstein quotes –
“The power of social proof is undeniable. When we see others engaging in a specific behaviour, it provides us with a cue for what is acceptable and appropriate. By showcasing examples of desirable behaviours, we can influence others to follow suit and create a culture of positive choices”
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