Below is an excerpt from an article about the benefits of Influencer marketing, you can read the full article here. Below is just a portion and the benefits offered to advertisers.
When you think of world-class advertising, what comes to mind? A clever or funny 30-second spot during the Super Bowl? How about a full-page spread in Vogue’s September issue? Or is it a sexy commercial starring the most sought-after celebrity in Hollywood?
Times have changed, and so has the definition of effective advertising. When is the last time you even sat down and read a magazine cover to cover? And doesn’t everyone DVR their favorite shows now so that they can blow through the commercials, since they feel like an intrusion? And when you see a celebrity hawking a product, especially when it doesn’t seem like a natural fit, don’t you find yourself thinking more about why they need the extra cash than whether its something you want to buy?
The old model of advertising is broken. Why? Because it’s too crowded out there. As Tony explains at Business Mastery:
Ten years ago, on average, it took a person four exposures to an ad before they took action – meaning if they had an interest within four exposures, the average person would follow through, get the information, make the purchase, whatever. Today that number has multiplied by four. It now takes 16 exposures before the average person takes some form of action.
Now, when you think of the expensive marketing and the competitiveness of it, where is marketing today? It’s everywhere, it’s on people – it’s on their pants. It’s on bananas, is it true? It’s everywhere, and as a result, you ignore it. When you’re online and see those banner ads, do you even see it? No.
This is why influencer marketing has emerged so quickly. It falls into Tony’s idea of creating “raving fan customers” that will evangelize your brand and share the message with their followers. These individuals with enormous audiences can make you stand out from that crowded advertising space and bring massive value to your brand.
While it’s still in its nascent stages, influencer marketing quickly proving to be one of the most effective (cost- and conversion-wise) social strategies for businesses of all shapes and sizes. In fact, recent research found that 63% of marketing professionals with influencer strategies already in place are expanding their budgets this year. And 32% deemed influencer campaigns “essential” to their marketing strategies, while 41% said they have garnered more success in influencer campaigns than more traditional advertising tactics.
So just why is influencer marketing rising to the top? And how do you go about aligning yourself with an effective influencer? Here’s what you need to know to effectively leverage it for your brand.
IT’S MORE AUTHENTIC
Authenticity is a rare commodity. Think about it: When you see a commercial touting the “easiest weight-loss solution in the world,” is there a single bone in your body that believes them? Or what about an ad for a shampoo that makes your hair thick and shiny; how likely are you to buy into it? All the hyperbole and Photoshopping has made us increasingly wary, and with good reason. But this is precisely why influencer marketing has become so effective.
Influencer campaigns are inherently more organic than the more traditional advertisements, primarily because influencers are seen as thought leaders and even as role models. By investing time and energy into cultivating their audience and connecting with their following, these influencers have become trusted sources. In short, people listen. So when an influencer highlights a product or service, it comes across as a genuine recommendation. This level of sincerity is key for digital and mobile-minded marketers, especially when it comes to appealing to younger generations who don’t like to feel like they are being marketed to. Customers crave authenticity, and that’s what they get with influencer marketing.
IT’S COST EFFECTIVE
There’s not one single standard pricing model when it comes to influencer marketing. Some influencers will collaborate with your brand simply because it helps them build their brand. A vanity url and some free product or experiences can be offered in lieu of a monetary payment. Other influencers will agree to performance-based pricing model, where the amount you pay is based on the number of clicks and amount of engagement (likes, shares, retweets). And still others will opt for a “flat rate” pricing, where you pay per post or per video.
While some may be confused by this wide variety of pricing, it’s nothing a little research can’t fix. And besides, this range allows you to find what you are most comfortable with, and what you think will be the best model for your brand.
But whichever you choose, it’s bound to be more affordable than traditional advertising. In fact, a recent survey of 100 U.S. marketing pros by Bloglovin’ found that on average, 36% spend less than $5k per campaign and 24% spend less than $10k. That means that more than 6 in 10 marketers are spending less than $10k per campaign; many media buys have a minimum of $25k+! Only 6% of influencer campaigns are in the $75k to $100k range, and those are likely for large national brands.
IT HELPS YOUR BRAND IMAGE
It’s 2017, so probably don’t need to explain the importance of social media marketing. As you know, social media can help drive massive traffic to your site, can create a stronger connection between you and your customers, can boost your site’s SEO, and can generate earned media coverage.
But even more than this, there is a certain kinetic energy that builds around your brand when you are buzzing through the veins of social media. Whatever platform it is – Facebook, Instagram, Twitter or Snapchat – when you are relevant in social media, you become relevant to the customer.
Influencers can help bolster this electricity around your brand. They can give you access to a more targeted demographic, grow your social media following, drive SEO value, and add a new breadth of content that ultimately gives more dimension to your brand.
Influencers are thought leaders, so when they tout your product or service, people listen and engage, which can also bring a sense of community to your brand – which can be difficult to do if you don’t have a strong regional, offline presence (e.g., brick-and-mortar stores, industry events). That feeling of community then allows everyone can collectively experience the vision you are trying to put forth, and in some cases, adopt it as their own so it becomes a shared vision.
Businesses of all sizes across the world are leveraging the help of influencers for their B2B marketing. B2B influencer marketing is a cheap and efficient way to create successful marketing campaigns spanning a variety of marketing channels without investing a huge amount of time into them. But the real question is:
What is Influencer Marketing?
Influencer marketing is the process of integrating people of influence into your marketing strategy in order to increase:
The number of visitors to a website
The number of “likes”, “shares”, and “follows” on social media
The number of sales on an e-commerce platform
The amount of traffic to a specific landing page of a website
Simply put, influencer marketing is using the voice of a thought or industry leader to get your brand’s message to your audience on your behalf. It’s an easy way to use the celebrity status of a person to encourage your audience to listen to you.
Related: How to Become a Marketing Influencer Before You Turn 30
The Benefits of Influencer Marketing
Influencer marketing is important because it is a way for one person to influence the masses through various digital forms. Influencer marketing is:
A way to connect to customers who are more difficult to reach
Not as expensive as other forms of marketing
A good way to maintain an authentic focus on your target audience
Top 10 Examples of B2B Influencer Marketing
Because the best way to learn about something is through experience, I’ve outlined 10 examples of successful B2B influencer marketing from some huge brands for you to review, understand, and potentially implement into your marketing strategy.
1. Synechron with Chatbots
Chatbots have been on center stage from a marketing standpoint this year. Chatbots have made a number of tasks easier for consumers. From ordering a pizza to booking a flight, the opportunities are endless. Just how does B2B influencer marketing fit in? A perfect example of this is Synechron. The company leveraged various financial services to then incorporate chatbots into their business in order to solve various challenges it was facing, some of which included banking, trading, and insurance problems.
These chatbots can be integrated into social media platforms, such as Facebook, thanks to tools like Chattypeople. Chatbots helps you boost your business capabilities through AI-powered chatbots that can undertake a variety of tasks; for example, placing orders, taking payments, and pushing offers and promotions on demand.
Related: How to Create a Facebook Messenger Chatbot For Free Without Coding
2. TopRank with Content Marketing
Content marketing is still a very powerful organic tool that can help you boost engagement, maximize your reach, and improve the quality of your leads. TopRank incorporated B2B influencer marketing into its content marketing strategy in order to promote the 2014 Content Marketing World Conference. TopRank asked its 40+ influencers to compile a list of advice they would give aspiring content marketers. From there, valuable content was created in the form of e-books, blog posts, and long-form Q&A interviews, from which readers could learn.
3. IBM with Employee Advocacy
There is no one who understands your products and services better than the people who are being paid to sell them. Let your employees do some of the talking by making them your brand advocates. A B2B company that makes their employees influencers is IBM. IBM’s Marketing Social Business Program Director, Amber Armstrong, was quoted on Dynamic Signal’s website saying they, “drove 50,000 new registrations to IBM Verse in the first two weeks of launch, a lot of that is due to employee advocacy.”
4. Okta with Customer Content Marketing
Aside from your employees, who know everything there is to know about your brand, products, and services, customers also value the opinions of other customers. This is because clients do not have a reason to lie. They will speak about your company without any bias and if positive, client testimonials are essential to the success of your B2B content strategy. Okta, an identity and device management company, did this very well by asking its clients to share their experiences with the brand and then published these in the form of stories that show how their services helped their clients do their job more efficiently. Some of their clients, and in turn, influencers, included News Corp, Adobe, and 20th Century Fox, all of which had their own landing pages, with media like statistics, videos, quotes, and various relevant blog posts.
Related: How to Align Content Marketing With the Buyer’s Journey
5. SAP with Video Marketing
Video marketing is an engaging way to attract and maintain an audience. If you couple video marketing with a celebrity or influential figure, you’ve hit the jackpot. SAP, a software solutions provider, is the perfect example of a company that used B2B influencer video marketing to promote its Sapphire Conference. The event, which attracts more than 20,000 attendees, was advertised through live video content created by a variety of industry influencers that was then uploaded directly to their Facebook profiles. The video content consisted mainly of interviews in which influencers shared valuable insights and information on relevant topics. This content was then shared on the SAP blog, leveraging fantastic results with a turnaround of approximately 80,000 guests at the event.
6. Video Fruit with Guest Blogging
One of the most traditional forms of B2B influencer marketing is guest blogging. Companies today are making more efforts to seek out guest bloggers for their own pages in an attempt to gather valuable insights from industry professionals. This came as a positive surprise to Bryan Harris, founder of marketing consultancy Video Fruit, as he was published as a guest blogger on the Okdork blog. On the day the post was published, the results for Video Fruit were astronomical:
An increase in page views of over 500 percent
Unique page views jumped up by over 600 percent
The average time visitors spent on the page increased by more than 8 percent
The bounce rate diminished by just under 6 percent
7. Point Blank SEO with Guest Blogging
Another example highlighting the importance of guest blogging as a form of B2B influencer marketing is Jon Cooper, the author Point Blank SEO, a link-building blog. He was published as a guest blogger on YouMoz, followed by Moz itself. In just 24 hours, Point Blank SEO saw its visitor numbers rise to more than 400. Since then, his blog has seen a steady rise in numbers.
Related: 7 Ways the Perfect Host Makes Guest Bloggers Feel Right at Home
8. Microsoft and National Geographic with Instagram
Most businesses’s go-to platform for promoting photography is Instagram. Instagram is rich with possibilities for using various hashtags, a mound of media editing features and an easy-to-use interface. But what happens when the company doesn’t have the photography skills to do the creative work? It partners up with industry influencers who can get them the audience it needs. It’s no wonder Microsoft came up with the great idea of coupling National Geographic with International Women’s Day to create an Instagram campaign called “Make What’s Next”. The results were phenomenal:
30 pictures by renowned photographers across five of The National Geographic’s Instagram Channels
More than 3.5 million “likes”
More than 1,000 pictures uploaded to Instagram
9. H&M with Social Media Marketing
In addition to Instagram, companies are leveraging influencers across social media in general. For example, H&M worked with a variety of celebrity influencers to promote its holiday clothing line on social media platforms, such as Facebook and Twitter. By creating four engaging video advertisements and using influencers, such as Tyler Posey, Hannah Simone, Jana Kramer and Peyton List, the company was able to reach over 12 million customers across the world with its new collection.
Related: 9 Top Social Media Influencers Marketers Need to Follow
10. Maybelline with Social Media Marketing
Maybelline is another fashion brand that was able to fully utilize the power of social media with the added help of B2B influencer marketing to reach a huge number of consumers during its 2016 Fashion Week. By working with 15 beauty experts from 15 countries, Maybelline was able to:
Reach over 13.9 million consumers across the globe
Get 3.6 million “likes” attributed to this influencer marketing campaign
Originally published on https://www.entrepreneur.com/ You can find the original article here: https://www.entrepreneur.com/article/292944
Author Credit: Murray Newlands
A recent survey revealed 84% of marketers plan on executing at least one influencer marketing campaign during the next 12 months.
But what exactly is “influencer marketing”? Well, it’s the grey territory between an official testimonial and a subtle product mention, which is done almost in passing.
The best example is to imagine that you are back in high school. You walk down the hallway, backpack straps pulled tight. And suddenly, you stroll past the “popular crowd” of girls—who, metaphorically speaking, would be Kylie Jenner on Instagram.
You hear Kylie say in passing, “I love my Fashion Nova jeans.” Instantly you feel as though you know something no one else does. You know what she wears, and what she considers to be cool.
This is exactly what has happened. Kylie Jenner partnered up with affordable clothing brand, Fashion Nova, and in one Instagram post made this clear point (the photo gathering a stunning 2.2M likes): you don’t have to buy designer clothes to look like a superstar. You just need Fashion Nova.
The above example is a perfect case-in-point of what brands are now willing to pay big bucks for. It’s not exposure they want. Pure numbers and big promises of “impressions” are only half the value.
The other, more important, half comes from association. It’s happening everywhere, from a-list celebrities all the way down to tiny niche thought leaders. Even small businesses and boutiques will spend a bit of money for a social media influencer with a few thousand followers in their market.
Because what they’ll get in return is targeted exposure to the right kind of consumer, one who is already interested and will likely pay attention.
This is opposite of what’s happening with television right now, on which commercials have officially become background noise. Think on your own life. When was the last time a commercial came on and you didn’t pull out your phone?
The only difference is that now, as you scroll through your Instagram feed, you are still seeing advertisements. You just can’t tell right away. Your favorite influencers, who you already follow, are repping products and promoting brands, all the while still staying true to their unique voice and story.
Social media influencers exist on all the primary social platforms: Facebook, Twitter, Instagram, and Snapchat. Even the smaller social platforms like Musical.ly have given birth to Internet famous celebrities and influencers down in the single-digit age group.
These are the child stars of the modern day, and they are becoming more and more savvy about how to properly collaborate with brands for their own creative campaigns.
Another interesting stat is that 47% of online consumers use ad blockers, giving brands and businesses even more reason to put their dollars behind influencers instead. Influencers are the ones holding everyone’s attention.
They are the ones people actually spend time watching. And as long as all eyes are on them, more and more brands are going to see value in paying these people to represent their products.
This trend is not limited to mainstream and popular markets such as fashion, athletics, or entertainment. There are influencers in markets centered around everything from bass fishing to hot yoga to mindfulness and spirituality.
In fact, to call it “influencer marketing” is really only the beginning. What’s truly happening is a broader shift, as more and more people are discovering the art of personal branding.
When you have a personal brand, when you have an audience and people see you as a thought leader in your specific niche or market, you have something no one else does: you have people’s attention.
And that, in itself, is highly valuable, not just to brands but to other thought leaders as well. Having a personal brand opens doors of opportunity. Now more than ever we see a rising amount of influencers who are starting to understand their value.
Five years ago, it would have been thought ludicrous for a teenager to have a million followers on Instagram. Now? Those same teenagers are negotiating with big brands and calling the shots, always careful to ensure that they don’t “sell out” and just become a product pusher.
The best influencers work to integrate their branded campaigns into their unique stories without skipping a beat. They know their audiences are fickle and can quickly leave, so they treat each and every post with care.
In 2017, these sorts of collaborations between big brands and influencers are only to increase. So much so, that if influencer marketing is the beginning, then what’s next is the shift from social media to social marketplaces.
Original article on Forbes.com by AJ Agrawal
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Daily fantasy football craze: DraftKings, FanDuel spend combined $27M on advertising this week
by Taylor Soper on September 15, 2015 at 10:59 am
If you watched any football during the first week of NFL action this past Sunday, you surely saw an advertisement for DraftKings or FanDuel.
The two companies, which run daily fantasy sports games and are handing out millions of dollars per week to users, spent a combined $27 million on TV advertising during the past week according to data from Seattle-based iSpot.tv, a real-time analytics service that tracks specific TV advertising campaigns.
On its list of “top 10 spenders in TV advertising this week,” iSpot.tv reported that DraftKings ranked No. 1 with $16.3 million (and counting) spent on 5,363 national airings — it actually was spending even more earlier this month. FanDuel, meanwhile, ranked No. 7 with $10.8 million spent on 2,599 national airings.
Other companies in this list include the likes of Warner Bros., AT&T, Universal Pictures, Verizon, and Geico.
At first glance, DraftKings and FanDuel don’t exactly fit in with these other corporations. But this speaks to the massive growth of the two new companies and the capital they are working with.
In July, FanDuel raised a $275 million round from investors like KKR, Google Capital, and Time Warner that valued it at more than $1 billion. A few weeks later, DraftKings raised a $300 million round led by Fox Sports, which valued the startup at more than $1.2 billion.
DraftKings, founded in 2011, brought in $30 million in revenue last year, the Wall Street Journal reported. FanDuel, founded in 2009 — it spun out of news startup HubDub in 2010 — made $57 million last year. The companies make money by taking a small commission from each entry fee; FanDuel said that it takes about 10 percent from each fee.
Both companies, which also have investments from professional sports leagues and sponsor several pro teams, went on an all-out advertising blitz this weekend as millions around the country watched the inaugural week of the 2015-16 NFL season. It seemed there was an ad for either company multiple times during each televised game, and not just on Sunday. After Michigan State’s win over Oregon on Saturday, my TV was left on ABC after the game and an extended informercial that lasted at least ten minutes was playing for FanDuel.
While fantasy sports have been around for a while, these new daily games are becoming more popular as of late. Rather than a typical season-long fantasy league that forces users to keep the same roster for months, FanDuel and DraftKings let people compile different lineups each week and pick from an array of money pools that have some serious payouts to top finishers. For example, a DraftKings pool for this past NFL weekend featured an entry fee of $20 for each lineup, with a top prize of $2 million.
From FanDuel’s website.
From FanDuel’s website.
As these sites become more popular with NFL fans, they are also drawing scrutiny from both traditional sports betting operators as well as those the legal side. The Washington Post noted on Monday that a ranking member of the Energy and Commerce requested a hearing to discuss “how participation in fantasy sports differs from gambling, as well as the relationship between professional leagues, teams, and players and the fantasy leagues.”
“Anyone who watched a game this weekend was inundated by commercials for fantasy sports websites, and it’s only the first week of the NFL season,” Rep. Frank Pallone, Jr. said in a statement. “These sites are enormously popular, arguably central to the fans’ experience, and professional leagues are seeing the enormous profits as a result. Despite how mainstream these sites have become, though, the legal landscape governing these activities remains murky and should be reviewed.”
DraftKings, which inked an exclusive partnership with ESPN in June, calls itself a “U.S.-based skill games company,” and says that its contests are legally operated under U.S. and Canadian law.
“The legality of daily fantasy sports is the same as that of season long fantasy sports,” the company notes. “Federal law and 45 of the 50 U.S. states allow skill-based gaming. Daily fantasy sports is a skill game and is not considered gambling.”
Residents of Arizona, Iowa, Louisiana, Montana, or Washington cannot participate in DraftKings contests due to state-specific regulations against cash prize awards. The same goes for FanDuel users.
On its FAQ page, FanDuel has a similar answer to the question of “Is FanDuel legal?”:
Yes, Fantasy Sports is considered a game of skill and received a specific exemption from the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA). FanDuel uses exactly same rules as season long fantasy sports game, the only difference is that our games last only a day. Thanks to fantasy sports being specifically excluded from laws affecting online sports betting, FanDuel is not illegal in any way. Trust us, our lawyers drive very nice cars so that we can keep it that way. We’re also members of the The Fantasy Sports Trade Association (FSTA).
FanDuel and DraftKings are the top daily fantasy sports sites, but others are also trying to compete. Yahoo entered the daily fantasy sports arena this summer when the tech giant announced it would offer a new daily games platform. There’s also AlphaDraft, which runs daily and weekly contests for eSports and received investment from ex-NBA commissioner David Stern and star player Carmelo Anthony in May.
The New York Times noted that “the business of daily fantasy sports is only a few years old, but it has become a nearly ubiquitous presence.” The Fantasy Sports Trade Association reported 41.5 million fantasy sports players in 2014 who spent an average of $111 on games and league costs.
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