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What is Influencer Marketing?

What is Influencer Marketing?

The emphasis of digital marketing has continually shifted over the past three decades. For the last few years, our industry has been consumed by content marketing. Now, a marketing shift toward influencer marketing has grasped our collective attention. The product or service is falling subordinate to the salesman’s sales-pitch.

Influencer marketing relies on the individual’s popularity or reputation to draw market share to a company’s bottom line. A person’s online persona can sway the choice of thousands of followers in an instant. Their popularity enforces the value of the product, encouraging followers and fans to buy the product. If a consumer finds the influencer enticing, often all that is needed is a simple Tweet to bend a market.

The rise in social media has created a far stronger illusion of intimacy between big names and average people. Instead of relying on traditional media, consumers can go directly to a politician’s Facebook page, or see pictures of a celebrity’s child on Instagram. This direct connection between influencer and follower deceives the follower to trust an influencer in the same way that they might trust a friend or family member. Influencer marketing offers a new type of digital and mobile advertisement that appears far more organic and natural.

Goals when engaging influence marketers:

  • Plan in advance. The use of influencers requires research and focus. A scattered, shotgun approach to marketing runs contrary to the use of influencers.
  • Be strategic in your selection of individuals. Each influencer has a specific audience that follows specific individuals. Each audience has its own habits and tastes. Select a palette of influencers to facilitate your goals.
  • Allow the influencer to use his or her own voice. Influencers have a following because of their brand; they speak with their own voice. This is why you hire them. Let them do their job.

Influencer marketing allows the company to step deeply into the consumer’s circle of trust. In the same way that we are more likely to listen to a good friend, consumers rely on social media to construct their reality. As marketers take hold of this opportunity, consumers become less hostile and more accepting of endorsement by influences.

If you want guidance selecting the elements of you next marketing campaign, contact Colure’s advisory team.

Big Data Analyitics

Big Data Analyitics

The recent digital explosion has not just been limited to devices and mobile applications. The analysis of large sets of digital data is now more important than ever. The growth and practicality of digital analytics in recent years has made it more accessible for companies to take the leap into data mining.

Big data analytics allows you to assess large sets of raw data to reveal patterns, trends, unknown correlations, industry trends, consumer preferences and other valuable sets of information. You can take that valuable information and use if to generate new revenue, better service, and improved efficiency. Big data is very important because it can give companies the edge they need to give them a leg up on the competition. Leveraging data-driven strategies will lead to increased competition and innovation.

With Big Data, companies can acquire more in-depth knowledge about how their business operates, which in return can lead to improved performance and decision making. If you want to know the quantity sold of a particular product or service, you can track that with big data. If you want to know which products did not perform well you can track that with big data. If you want to the particular demographic of who bought your product or service, you can track that with big data. The possibilities are becoming endless. Amazon has been using big data to take their business to the next level.

The online retailer has been using big data to extract large amounts of data on consumer names, addresses, payments, and search inquiries. They also use this information to improve customer relations. Netflix has also used data analytics to find ways to improve their entertainment streaming service. They have an abundance of data that they use to provide insight when it comes to analyzing the viewing behavior of their subscribers giving them information n what content they should pursue and in which markets, both domestically and internationally.

To get ahead of the competition you have to understand where you are as a company and know how your company stacks up against the industry leaders. Big data analysis gives companies that opportunity to close that gap and create leverage for themselves. Big data, provides insight your market, your clients, and yourself.

Live streaming video

Live streaming video

One of the fasting growing video sharing innovations is through the live streaming of real events. Live streaming is the new kid on the block giving viewers the opportunity to see videos over the internet in real-time, and the chance to engage with brands in an authentic and transparent way. It is becoming evident that people want live content in real-time, but is live streaming a sustainable business practice that is here to stay? 

Video marketing is now most beneficial way to promote your services on the web and live streaming is just a better way for brands to develop more interactive marketing campaigns. It is less expensive than traditional video marketing. All you need is a mobile phone and someone interesting enough to captivate an audience. It will be interesting to see if the cost effectiveness allows live streaming to usurp traditional video marketing, similar to the way reality TV began to overtake traditional studio-produced shows. People want to know what’s going on with their favorite people and brands. They don’t want a choreographed routine. They want something that is transparent.

Businesses are learning to expand their reach with live streaming. Companies are shelling out large amounts of dough to launch campaigns through live streaming. The titans of social media such as Twitter, Facebook, Snapchat, & YouTube have all been investing in efforts to enhance their streaming platforms, but other companies are starting to join in and grab a slice of the pie. Target sponsored the first-ever live streaming of a music video, which garnered over 25 million views during the commercial break at the Grammys. This turned out to be a massive success.

While live-streaming indeed provides certain advantages to communications, it still presents several risks. Not all projects will pan out. People are used to watching content when they have the chance, but live streaming places the viewer in the hands of the streamer. Gathering feedback is often an extra step that is often not engaged to measure the effectiveness of a streamed event. Live streaming is proving to be attractive; it should be part of our mobile lexicon for some time.