In this age of digital marketing, many traditional business owners feel they are at a disadvantage when it comes to reaching new consumers.
Where marketers once could rely on clever slogans and catchy graphics, consumers of today are distrustful of paid ads. Nearly 70% of the 18-35 age demographic say they have no interest in flashy advertisements and those featuring what they see as the disingenuous endorsements of celebrities.
Pairing consumer distrust with often unfamiliar new techniques needed to compete in the virtual marketplace creates a crisis for many businesses. Change is essential to grab the attention (and discretionary income) of Millennials. While this demographic is not the largest, Millennials tend to spend more than other age graded group; making their business a necessity for success.
How Do I Attract Younger Consumers to My Business?
If you want to catch sea bass, you have to leave the car park and go to the sea. The same logic applies to the millennial consumer; to catch their business, head to the Internet. A recent survey revealed that 40% of male millennials said they would prefer to buy absolutely everything online. That is a statistic you cannot afford to sleep on if you want to grow your business.
I Have My Business Posted Online, What Else Should I Do?
While good SEO is important, you want to stand out from the crowd. You will make more waves if you expand your online presence to social media.
Retailers who cultivated a social media relationship with consumers often see their sales increase tenfold. Social media in general and Facebook, in particular, nab Millennials’ business because of exposure and ease of purchase.
The ability to quickly purchase an item while scrolling through social media appeals to busy consumers. Remember, just because Facebook presently has the lion’s share of e-commerce business, do not neglect building a presence across all types of social media.
What Kinds of Social Media Should I Use?
While there are scores of social media outlets, you would do well to start with the biggest and most user-friendly. In addition to Facebook, there are other well-known and highly frequented social media platforms including:
- Twitter – Communicate with many customers at once with multiple formats such as video, photo, and message.
- Instagram – Uses visuals to communicate with users and is excellent for companies that excel at graphics, pictures, or multimedia.
- Linkedin – Professionals from all types of backgrounds connect to share ideas and network with others who have similar business interests.
- YouTube – A video streaming service where you can showcase your services or products for the world to see.
- Snapchat – A multimedia messaging site that allows users to share images with limited duration.
- Pinterest – A visual discovery site where users post and collect images they find interesting.
As each platform has its own unique style and way of communicating. Do not make the mistake of presenting your information identically for each kind.
How Can Someone Who Is Inexperienced Use Social Media to Their Advantage?
In the grand scheme of technology applications, social media is not overwhelmingly difficult to learn.
However, certain specifics can prove challenging. Seeking outside help with social media managing is common. Social media marketing experts (such as myself) are an effective way to grow your business.
What Is a Social Media Marketing Influencer?
The idea of social media influencers grew out of the popularity of ordinary people creating multimedia posts on YouTube and other platforms. As individuals grew followings, people started to seek the opinions and perceived wisdom of those posting regularly. Eventually, fame and followings became impressive enough to coin the term social media influencer. Over time, what started as a fun hobby for many turned into a way to earn a living because of funding from advertisers.
There is an important distinction between influencers on social media and celebrity endorsements. Even though influencers earn money; consumers still value their opinion and trust the truth of influencer claims much more than celebrity endorsers.
This trust of social media marketing influencers is due, in part, to successful influencers focus on a narrow and well-defined audience. Because of familiarity with their audience and good information shared over time, consumers see influencers as experts in their given fields as well as friendly associates offering advice.
An illustration of how social media marketing influence works would look like this:
- If a blogger who focuses on domestic pets publishes great content on YouTube and Instagram explaining pet care and training, their followers have a sense of trust in the shared information. The credibility of the blogger leverages influence and often leads to the purchase of the featured pet care products or services.
- In contrast, if a well-known athlete is offering the same product, Millennial consumers are unlikely to see the athlete as an expert in pet-related products. This belief diminishes consumers’ trust in the athlete’s ability to judge a good product or service. Because there is no specific connection between an athlete and pet products, there is no basis for meaningful influence.
Do Social Media Market Influencers Have a Big Impact?
In a word, yes. An enhanced sense of credibility displayed by influencers, makes significant impressions in the virtual marketplace. It is important to note that social media marketing influence is still experiencing growth. In the 12-month period from 2017 to 2018, the number of existing influencer platforms and agencies spiked from 420 to 740. Some other telling statistics regarding social media marketing include:
- Searches for the term ‘influencer marketing’ grew 1500% over a period of just three years. Google reported that in 2015, the searches for the term levelled out at 3,900. Three years later, Google’s statistics show the number of searches jumped to 61,000.
- Influencer marketing focuses on the business to consumer sector. Of businesses surveyed, 61% run influencer campaigns targeting consumers as opposed to 31% targeting business to business marketing.
- When asked if social media marketing influencing was effective, a whopping 92% of responders said yes.
- The amount of earned media value per one dollar spent fell between $5.20 and $18.00. Even at its lowest rate, influencer marketing is a great way to enjoy excellent value for your money.
- Social media marketing influencing is the largest and fastest growing online customer purchasing practice. Consumers turn to influencer marketing twice as often as organic searches.
What Should I Look for in a Social Media Marketing Influencer?
Having an influencer that meshes well with your products or services is a must. Here are a few more keys to finding the perfect influencer for your company.
- Enthusiasm – This is a trait most successful marketing influencers possess as it is critical for their success. You will see their enthusiasm manifest in a passion for learning all about your products. They typically are skilled in spotting trends that are up and coming as well as predicting trends that are on the way out. An influencer with great enthusiasm will give their best to your business because it is a part of their realm.
- Authenticity – An influencer who shows great authenticity normally has a loyal following. By association, their authenticity becomes your authenticity.
- Visibility – While a bigger following does not always equal better, an influencer who is very visible will make your services or products very visible.
- Authoriy – A marketing influencer will show themselves as an authority in how they present themselves as well as how they interact with your products. Additionally, an influencer with authority shows strong organisational skills and an optimised web site.
While social media marketing and marketing influencers may be second nature for some businesspeople, these methods of standing out in the virtual marketplace can be difficult for others to grasp. It is wise to consider expert assistance in your e-commerce campaigns. This allows owners to focus on the tasks involved in running their businesses while enjoying success in their marketing.