Social Media and Influencers
Influencers, or popular social media personalities who partner with brands to sell products to their fans, are one of the newest and most effective ways of reaching a generation of people. Millennials are rarely without their phones, and the are on social media more than watching traditional television. YouTube alone is preferred nearly double to traditional television service according to a 2016 Comscore report. As marketers, we know they are online and we know they are consuming digital content, but the trend of using influencers to reach them is an answer to traditional advertisements within that content.
The first thing I notice about influencer marketing is the amazing potential. As of 2016 there were more than 2,000 YouTube accounts with more than 1 million subscribers, and that doesn't even take into account other social media sites. That statistic tells me that there are super focused demographics that are compiled in one place and just waiting to be reached. I also noticed that influencer marketing seems to be something that isn't necessarily taken seriously by older generations. In the 60 Minutes transcript "The Influencers" by correspondent Bill Whitaker, he seemed genuinely shocked and at times appalled by how much money these influencers can make. On the other hand, no advertiser would scoff at making a commercial that cost $100,000 to produce and air if it was effective. From that alone I gather that the use of influencers is a for-millennials-by-millennials type of marketing.
The strategy varies by the influencer, but the concept is easy: promote a business in some way. It may be as simple as wearing a Jimmy John's shirt like in the example of Vine star Andrew Bachelor, or up to making an impromptu commercial for Dunkin Donuts like YouTube sensation Logan Paul. The key becomes keeping it more about the influencer than about the brand. The stars have built a trust and relationship with their audiences, and if they present something in a way that feels inauthentic, not only is it not effective, but it could also hurt their reputation. It becomes a delicate balance of promotion without the impression of selling out.
The use of influencers is forcing marketing executives to think outside the box, and in order to be successful they must adapt to an ever-changing way consumers receive communication. The role that the influencer plays is that of a spokesperson but also their own manager in some cases, and also their own financial advisors. They hold the power but they also hold the responsibility, and like everything, their time in the spotlight has a shelf life. Their role in marketing is to change the perspective of the consumer. Rather than a company reaching them directly, consumers feel that influencers are their friends and they are giving personalized recommendations. It builds a trust between the company and the consumer much faster, but the power of the brand is now in the hands of the influencer more than traditional marketers would feel comfortable with.
Heltai, Gillian. (2016, June 23). What Millennials’ YouTube Usage Tells Us about the Future of Video Viewership. Comscore. Retrieved from https://www.comscore.com/Insights/Blog/What-Millennials-YouTube-Usage-Tells-Us-about-the-Future-of-Video-Viewership
Whitaker, Bill. (2016, October 26). The Influencers. CBS News. Retrieved from https://www.cbsnews.com/news/60-minutes-kim-kardashian-logan-paul-social-media-influencers/
The first thing I notice about influencer marketing is the amazing potential. As of 2016 there were more than 2,000 YouTube accounts with more than 1 million subscribers, and that doesn't even take into account other social media sites. That statistic tells me that there are super focused demographics that are compiled in one place and just waiting to be reached. I also noticed that influencer marketing seems to be something that isn't necessarily taken seriously by older generations. In the 60 Minutes transcript "The Influencers" by correspondent Bill Whitaker, he seemed genuinely shocked and at times appalled by how much money these influencers can make. On the other hand, no advertiser would scoff at making a commercial that cost $100,000 to produce and air if it was effective. From that alone I gather that the use of influencers is a for-millennials-by-millennials type of marketing.
The strategy varies by the influencer, but the concept is easy: promote a business in some way. It may be as simple as wearing a Jimmy John's shirt like in the example of Vine star Andrew Bachelor, or up to making an impromptu commercial for Dunkin Donuts like YouTube sensation Logan Paul. The key becomes keeping it more about the influencer than about the brand. The stars have built a trust and relationship with their audiences, and if they present something in a way that feels inauthentic, not only is it not effective, but it could also hurt their reputation. It becomes a delicate balance of promotion without the impression of selling out.
The use of influencers is forcing marketing executives to think outside the box, and in order to be successful they must adapt to an ever-changing way consumers receive communication. The role that the influencer plays is that of a spokesperson but also their own manager in some cases, and also their own financial advisors. They hold the power but they also hold the responsibility, and like everything, their time in the spotlight has a shelf life. Their role in marketing is to change the perspective of the consumer. Rather than a company reaching them directly, consumers feel that influencers are their friends and they are giving personalized recommendations. It builds a trust between the company and the consumer much faster, but the power of the brand is now in the hands of the influencer more than traditional marketers would feel comfortable with.
Heltai, Gillian. (2016, June 23). What Millennials’ YouTube Usage Tells Us about the Future of Video Viewership. Comscore. Retrieved from https://www.comscore.com/Insights/Blog/What-Millennials-YouTube-Usage-Tells-Us-about-the-Future-of-Video-Viewership
Whitaker, Bill. (2016, October 26). The Influencers. CBS News. Retrieved from https://www.cbsnews.com/news/60-minutes-kim-kardashian-logan-paul-social-media-influencers/
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