MKT 265 _ 6-2: Marketing Perspective

C. Wall
08/05/2020

MKT 265 _ 6-2: Marketing Perspective


* https://www.cbsnews.com/news/60-minutes-kim-kardashian-logan-paul-social-media-influencers/


So, as a recap, it turns out a relatively average individual has potential to generate substantial income by influencing others to purchase various brands &/or products. If you have enough followers, companies will pay good money to have that individual talk about, or showcase their brand/product. ...Sounds like a great gig! 

What do I notice about this type of marketing? It seems easy...but also valuable. I don’t know if I want to get stuck with the mindset that it is easy, though, because for an individual to obtain the number of followers necessary to be able to “influence”, well...that takes a lot of time and effort. So congratulations to those that saw an opportunity, and are running with it. I call it valuable, though, because it makes sense… Companies have the opportunity to engage with potential consumers on the consumer’s own level, when they pay influencers to promote their products. It is effective because consumers don’t view the influencer as a salesman...but as one of them. 

This leads into the strategies that are being utilized; engagement, and personalization. Influencers have become successful due to a couple different things, but one of them is their ability to engage with their followers. The company can just let the influencer do what the influencer is already doing, and they benefit from that engagement without having to put in any additional effort on their part. Also, they become personal with consumers, because, again, consumers view the influencer on relatively common ground. 

Therefore, the role that these influencers play is a big one. Word-of-Mouth has always been an effective way of growing one’s business, and an influencer is basically able to spread a message “word-of-mouth” (in a sense) to thousands of people instantly.

...All the while providing a company with a positive relationship with their potential customers, because people associate the brand now with the faces of their favorite influencers. It comes down to this:

Consumers are more likely to trust peer recommendations, as they're generally considered more trustworthy than claims in brand ads, and social media influencers can be very powerful in this respect (Barker, 2020). 

If a friend tells you, “Don’t buy such-and-such product...”, there is a good chance you are not going to go near it. You may even tell others, “I heard that such-and-such product is a bad choice…”. But, on the other hand, if a friend tells you, “Buy such-and-such product, I have loved mine!” your likelihood of looking into that product greatly increases. And this is what companies are paying for when they utilize social media influencers.



REFERENCES:

Barker, S. (2020, January 7). How Social Media Influencers Can Impact Your Customers’ Purchase Decisions. Social Media Today. https://www.socialmediatoday.com/news/how-social-media-influencers-can-impact-your-customers-purchase-decisions/569813/#:%7E:text=Social%20media%20influencers%20tap%20into,increase%20your%20customer%20acquisition%20rate.

Comments

Post a Comment

Popular posts from this blog

MKT 229 _ 8-1 Blog: Marketing _ CW

  8/17/2020 MKT 229 8-1 Blog: Marketing Caleb Wall There is so much more to learn about Marketing than I initially anticipated! And a better understanding of Integrated Marketing Campaigns certainly adds another level. My advice, take the time to delve further into Integrated Marketing. But keep in mind more than just marketing. The American Marketing Association’s ethical standards are a must to become familiar with it. It has, unfortunately, been too common to come across unethical practices in marketing. These include misleading advertising, making false claims, or concealing negative aspects of the product that should be disclosed to the public. It needs to be a marketer’s intention to “do no harm”, “foster trust”, and “embrace ethical values” (AMA, 2019).  The ethical values of the American Marketing Association are Honesty, Responsibility, Fairness, Respect, Transparency, and Citizenship. In my opinion, Honesty is one of the most important to observe.  Strive to be ...
Read more

MKT 229 _ 3-1 Blog: Marketing Campaigns & SMART Goals

07/13/2020 Caleb Wall SNHU MKT 229 3-1 Blog: Marketing Campaigns & SMART Goals Whether an individual or a business, goals go hand-in-hand with success. Goals are desired outcomes, and are most effective when they are specific. “Having goals is like having a map. You know where you are heading, and this gives you zest, motivation, (and) more energy...” (Sasson, n.d.).  But, how to achieve one’s goals? This is where a strategy comes into play. Forbes.com tells us “a strategy is the approach you take to achieve a goal” (Belicove, 2020). For example, if a company wants to sell more of their products than their competitors ( goal ), then they will need to make their products readily available to buyers ( strategy ). A goal is the end result you seek, while a strategy is the plan to get there.  Still, though, a general plan is not enough. You will have to determine specific actions that will need to take place in order for the strategy to proceed… Those action...
Read more