Social Media & Influencer Marketing Lecture
Social Media & Influencer Marketing Lecture
(SMW London, 2018 and YouGov Report, 2018)
Social Media & Gen Z
- Will make up 40% of the population by 2020
- Indirect buying power of over 1 Trillion Dollars in the US alone
- Brands are competing for our attention
- Digital natives; connecting and consuming
- More aware, conscious and critical than ever
Globally..
- There are 40.7 million social media users in the UK aged 18 and over — equalling 80% of the total adult population
- Over 1 billion daily Instagram users internationally
In the UK..
- More than one in five (22%) Brits use Instagram daily
- 13% more likely to be a student
- 48% of people say they use the Instagram app more now than a year ago
- Buying decisions of Gen Z are influenced by Instagram (48%) and YouTube (50%)
Brands are..
- Trying to create appropriate, authentic content which connects with the hearts and minds of their target consumers
- Compete against each other in a growing and crowded market
- Becoming aware of their consumers needs and desires; diversity, representation, empowerment, purpose
Brands use Social Media to…
- Establish a SM presence across major platforms, including Facebook, YouTube and Twitter
- Create shareable content/ campaigns/competitions
- Gathering feedback/insights
- Create a 'loyal' customer base to
improve brand credibility
- Directly sell products
- Use 'Influencer Marketing'
- Share ‘news'
Why use Instagram for Brand Advertising?
- Visual content is 40x more likely to get shared on social media than other types of content
- Video content is 8x more likely to be engaged with than photo based content
- Top brands are seeing a per-follower engagement rate of 4.21%, which is 58 times higher than on Facebook, and 120 times higher than on Twitter
Why use Instagram for Brand Advertising?
- 90% of Instagram users are younger than 35
- 32% of teenagers consider Instagram to be the most important social media network
- Female internet users are more likely to use Instagram than men, at 38% vs. 26%
- Posts tagged with another user (56%), or location (79%) have significantly higher engagement rates
Instant access to 'Insights' monitoring engagement and reception, and can be monitored, tweaked and/or changed to alter performance
Pros
- Easily target a larger/international audience
- Easy to measure interaction and engagement
- Consumers choose how they want to recieve their marketed content - Good for brand development
- Benefits its 'collaborators/influencers'
- Can be cost effective with a better ROI (Return on Investment)
Cons
- Crowded platforms/industry
How the Role of Influencers are changing..
- Influencer marketing is no longer 'new'
- Tiers of Influencers continue to evolve and change
- Influencers are also 'content creators'
- Influence is a strategy, not a tactic
- Brands increase investment
- Increasing eye on guidelines, disclosure and legalities
- The viewer/consumer is becoming more 'savvy' and ‘aware’
Influencer Marketing..
Focuses on targeting key industry leaders to drive brand message and awareness to a specific market of consumers via Social Media platforms.
IM represents a unique opportunity for advertisers to instruct, inspire and intrigue potential buyers regarding their products and the benefits those products deliver through key 'content creators’.
Influencer Tiers..
Different 'levels' of influencers have different levels of reach and respectively, different audiences.
In fashion circles, all different levels will be used in different ways, by different brands, depending on needs and budget, for example.
Influencer Marketing & Fashion..
- Sponsored content (Posts, Stories, Videos, IG TV, YouTube Videos)
- Brand collaborations
- Brand led events and trips
- Reviews and blog posts (also boosts brand SEO)
- 'Brand Ambassadorships'
- 'Gifted' content (Posts, Stories, Videos, Blog Posts)
- In-store events/meet & greets
Why Brands choose Influencer Marketing..
- 70% of millennials are influenced by their peers in buying decisions.
- 30% of consumers are likely to buy a product recommended by a
non-celebrity influencer.
- 39% of marketers were planning on increasing their Influencer
Marketing budgets in 2018.
- 70% of teenage YouTube subscribers said they relate more to
content creators than celebrities.
- 81% of consumers frequently purchase items they’ve seen on
social media.
How Brands measure sales from Influencer Marketing..
- Affilate Links
- Promo Codes
- Measurable Insights - Impressions & Engagement
- Google Analytics/SEO (Search Engine Optimisation - Search Terms) - Website/Blog 'Clicks'
- Measured Sales (Brand/Specific Products)/Sign-Ups
- Increase of Follows
- Reposted Content
Brands expect an increase in sales and increased impressions and/or engagement in return for Influencer Marketing.
The importance of Insights..
- Shows how well a page is performing - follows/views
- Shows engagement - likes/follows/views/saved or shared posts in
relation to a specific piece of content
- Website click-through
- Email click-through
- Makes comparisons between posts/influencers/pages visible
- Tracks page growth
Gives information on best performing times of day for content to be shared, viewed and engaged with
What brands look at in Influencers..
- Demographics of their Audience
- Engagement and Impressions of their content
- Aesthetic and Narrative of their posts/videos
- Sell-through of Products and/or Services
- Platforms of Use
- Scale and Location (Local, National, International) - Ethics and Beliefs
It's important to pair the right influencer, with the right brand and the right product, which in return is right for the target audience.
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