In the study done by Thomson concluded that influencer marketing is the fastest way to acquire customer.
Seth Godin, marketing guru and author of “Permission Marketing” has revealed why people are getting annoyed by interruption marketing and how future of marketing is permission marketing.
Permission marketing is defined as the marketing to customers by their consent.
We are talking about the way to reach customers without interruption and with their permission. For example, when any one promotes their brand they buy commercials on TV, Radio and on other media. But in the influencer marketing it is opposite of that as brands ask celebrities, bloggers or vloggers to spread message. These influencers have great reach on their social media and their followers are interested in the content they share.
The rise of micro-influencers
Micro-influencers are the social media users with less than 10K followers and their circle mainly comprise of friends and family members, mentioned by Gnack, Social ad platform.
A study conducted by the Markerly about the influencer marketing revealed that influencers with 1000 fans have engagement rate of 8 %, 4% for 1000 – 10,000 followers. And the engagement rate decreases with more followers.
For instance, it is a common notion to hire celebrity influencer with massive reach such as 10mn followers for brand promotion. Suppose a Sports company hires celebrity for Gym Equipment promotion. It would surely reach millions of people but the question is how much conversion is finally happening. About 90 % of the people are not even interested in the Gym related services hence it is mostly a lost cause. Rather employing 100 Trainers can yield better return on investment as these people have domain authority and their followers are listening to them.
Overall, the influencer marketing is rising however some niches like micro-influencers are also becoming dominant. Decide wisely what type of influencers is suited for your brand.
Do not forget to share any insight or experience you have about influencer marketing.
Dushyant Sethiya is a Co-founder at The Puppeters ( T-shirt Brand for Youngsters) and CEO of Mandsaur Buildcon Pvt. Ltd.
He runs podcast " Entrepreneurship with Dushyant Sethiya" and writes frequently on entrepreneurship on Yourstory, YouthKiAwaaz, Citispotter, YFS Entrepreneur's Magazine and NextBigWhat. He also mentors aspiring entrepreneurs and startups on the EverWise mentoring platform.
He is a social activist and involved with Malwa Keshari NGO to promote sports activities in rural India. He has also written many Op-Ed articles on Entrepreneurship and Micro-finance for the Newspapers and he expresses his personal views on prominent issues via blogging. He is the author of the Book ” Micro-finance: A Helping Hand”
He did his “Post Graduate Diploma In Entrepreneurship” from Judge Business School, University Of Cambridge (England) and “Masters In International Business” from Leeds University Business School, University Of Leeds (England). Prior to that he completed his Bachelors of Engineering in Information Technology from RGPV University, India.
You can connect with him via Twitter @dushyantsethiya or firstname.lastname@example.org or Visit him at www.dushyantsethiya.com
Stories by Dushyant Sethiya