Key Takeaways from this article
- Influencer marketing is a leading marketing strategy in the dynamic world of today.
- Tapping into the psychology of potential consumers aids in personalization which increases revenue.
- There are government regulations one must follow to continue as an influencer.
- Importance of AI tools and Influencers.
Introduction to the Digital Age of Influencer Marketing
The digital age encompasses the change in individuals’ living, working, and communication. It is the unparalleled opportunities that come with the rising challenges relating to privacy, and other ethics of technology. One of the highlights of this strategy is the rising participation of influencers known as influencer marketing.
Influencer Marketing is a strategy wherein individuals from varied backgrounds like celebrities, bloggers, experts, etc having a substantial following promote a product or service. These influencers collaborate with brands through sponsorship posts, giveaways, reviews, and more. What do you think about Taapsee Pannu’s new advertisement for Swiss Beauty in collaboration with Amazon? An influencer is chosen based on the niche and target audience of the product or service. Their performance is assessed based on the lead-to-customer rates, user engagement levels, number of clicks, and key performance indicators (KPI).
One example of such an influencer marketing strategy is Goibibo.com hiring Karena Kapoor Khan for its latest campaign.
Now that the role of influencer marketing is on the rise, shouldn’t there be regulations set in place for their smooth and fair functioning?
There were guidelines released in January 2023 by the Department of Consumer Affairs, to all social media influencers, regardless of their following or platform. According to these guidelines:
1. Disclosures must be prominently displayed in the endorsement.
2. Use of the terms like ‘advertisement’, ‘sponsored’, or ‘paid promotion’ must be made for endorsements.
Psychology Behind Influencer Marketing
Tapping into the psychology of potential consumers is the key to effective influencer marketing. As this strategy is used to persuade, communicate, and connect with the target consumers, understanding their psychology and acting accordingly will yield greater results.
FOMO or Fear Of Missing Out is an important aspect of psychology that one must work on. Influencers are used to represent the limited-time offers, giveaways, and other opportunities that help increase conversion rates. An example of such a strategy is the end-of-season sale by Myntra. Need more references, look at the Purplle Diwali sale where prices start at ₹9.
Cognitive ease is another psychological factor that uses its visually appealing aspect to make potential consumers accept the product or service. Influencers make sure that their content is easy to comprehend and connect to along with a simple message that aligns with the purpose of the product or service. You can relate to this strategy more when you think of the innumerable reels coming up on your For You page related to a product review, or the step-by-step make-up routine.
Influencer Marketing can increase the value of a product or service in the mind of the consumer. When the target audience admires a certain influencer, it aids in increasing the conversion rates as they believe that the product or service is of superior quality, cost-effective, and worth their time and effort. Have you seen the advertisement by Band-Aid where they represent how even Hulk needs band-aids?
Who does not like a good story? Selected influencers have to be effective storytellers. A well-established story narration encourages emotional connectivity with potential consumers. This is a great way to increase brand awareness and lead to customers as once they connect conversion is mostly inevitable. Here, influencers share personal stories and experiences which brings out desired emotions from the potential consumers making the strategy more influential.
Types of Influencers
The selection of an influencer depends on the type of product/service provided and the target audience chosen. Based on this analysis, there are various types of influencers:
1. Celebrity Influencers: These are the public figures who we love even outside their profession. They have high visibility and a larger number of followers. They are recruited when targeting a massive audience. A brand’s image is enhanced due to the associated fame and admiration of these influencers. Let’s look at this with the example of a famous Indian cricketer – Virat Kohli, who is the brand influencer of Puma, Myntra, and Blue Star.
2. Macro Influencers: They usually have a few thousand followers on their social media. They have a strong follower base and are mostly selected for niche-based products/services. They are recruited due to their quality content and loyal following. Do you want to know some of these macro influencers? How about the famous Khusha Kapila, Bani J, and Malvika Sitlani?
3. Micro-Influencers: These are the subject matter experts. They don’t have a comparatively large following but have an engaging one. Their recommendations are the very truth for their followers. They are collaborating for niche-specific, smaller, and engaging audiences. Kritika Khurana is a classic example of this type.
4. Nano Influencers: These have the smallest following base and have a few hundred or thousand followers. They have a passion for a specific product/service which creates a buzz around their surroundings. They are recruited for their authenticity. Want to have a look at some of them? Aayushi Syal, Shrihitt are some of them.
Advantages of Influencer Marketing
1. It is useful when a specific target audience is entertained. Influencers with that specific niche are selected.
2. It is easier to build authenticity and trust through influencers.
3. Collaboration amplifies brand awareness tenfold quickly.
4. As these influencers use social media platforms, the collaboration gets various SEO benefits.
5. It helps in community building, global reach, and adaptability for the brand.
Successful Influencer Campaigns
Now that we’ve been through the nitty gritty of influence marketing, let us analyze some famous campaigns where influencer marketing is seen.
1. Old Spice’s “The Man Your Man Could Smell Like” campaign – Isaiah Mustafa
Introduction
This was the campaign that saved Old Spice. Wieden and Kennedy came up with this advertisement campaign. The strategy used was that an appealing character (Isaiah Mustafa, an American actor, former American football wide receiver, and a celebrity influencer) would play the role of a hyper-masculine, charming, and humorous figure that would attract both men and women. Old Spice desired to attract a young audience and reposition the brand with a new modern theme.
Execution
This was a 30-second advertisement that featured Isaiah Mustafa transforming into a Casanova after using one of the old spice products. It was made live during the 2010 Super Bowl. It was a huge success. Later on, it was decided that a series of advertisements on the same line using Isaiah Mustafa would be aired using different products. The entire series gained a huge number of views. To create a personal connection, authenticity, and trust Isaiah Mustafa replied to tweets and comments from fans.
Result
The advertisement gained 40 million views on YouTube, making it the most-watched video in its history. The brand’s desire to transform its image to a modern hip image was also accomplished. There was a 107% increase in body wash sales in the first three months of the campaign.
Reason for success
The advertisement was a huge success because Isaiah Mustafa’s character/role was easy to connect with the audience also known as parasocial relationship. It was perceived as an interesting character/role by the audience.
2. Lenovo Yoga 2 tablet (Lenovo Yoga 2 tablet – YoGa2bFree) – Mihir Fadnavis, Ankit Vengurlekar, Ashwin Mushran and Kalyan Karmakar
Introduction
Lenovo Yoga 2 tablet is a classic example of an influencer marketing campaign in India. It was designed by Experience Commerce. Lenovo decided to recruit four famous Twitter influencers, film critic Mihir Fadnavis, gadget guru Ankit Vengurlekar, actor Ashwin Mushran, and food blogger Kalyan Karmakar. The campaign was designed in such a way as to ask the question: Are gadgets leading to freedom or trapping its users in a box?
Execution
Lenovo, instead of using the usual strategy, decided to twist it. It represented the four Twitterati in a box where, if one had to release them, they were quizzed and had to find clues. These clues were a part of Lenovo’s website and they helped the audience learn a new feature of the product.
Result
It was a successful campaign with high engagement. The pre-buzz that was created gave the campaign an edge. The bait of winning a new tablet increased the attractiveness of the campaign.
Reason for success
The unique interaction, interesting winning prizes, pre-buzz, and fun learning experience made the campaign a huge success. Lenovo played with the element of unique ideation and implementation which gave the campaign a lot of attention.
3. Gatorade’s “Sweat Makes You Shine” campaign – Hardik Pandya
Introduction
This is the first television advertisement of Gatorade – PepsiCo India’s hydration brand. Through this campaign featuring Hardik Pandya, Gatorade wants to promote the message of the importance of hydration and its role in performance success. The campaign highlighted the prominence of an active lifestyle and how hydration plays a major role in it. The campaign was visualized by Leo Burnett.
Execution
The advertisement campaign represents Hardik Pandya as the man of the match and his bead of sweat represents his tireless training. Throughout this training, Gatorade is used as his best form of hydration which pushes him to earn this title. Gatorade has always tried to be at the forefront of hydration for individuals with an active lifestyle. This campaign aims to spread the message that one should keep pushing their limits and stay hydrated in their fitness journey.
Result
As of now, the campaign seems to be a success. Although the campaign is still ongoing the final result of the audience is awaited.
Reason for success
The message behind the campaign – hydration is very common yet very popular amongst the young crowd. Gatorade has rightfully tapped into a concept that today’s generation is interested in. It has creatively collaborated with an athlete that not only aligns with its products but also with the perceptive popularity among the generation. This not only increases sales but also brand awareness and personal well-being.
What’s next in influencer marketing?
Artificial Intelligence (AI) is a powerful and significant tool that is expanding its reach in all aspects of our lives. When one asks what’s next in influencer marketing, the first answer would be AI. Transforming brand identity, forming collaborations, and analyzing influencers through SEO and other performance metrics are some of the aspects AI is taking over.
Some of the detailed functions of AI in influencer marketing are as follows:
1. Content Analysis: Various tools can be used to analyse content and gauge the engagement of the audience. By doing so the brand and the influencers ascertain that the content lines with the theme/message of the campaign. Some examples of such tools are Grammarly, Semrush, etc.
2. Predictive Analysis: Who wouldn’t like to know how their content will fare? Well AI is not behind even in this. One can use AI tools to predict the success of the marketing campaign based on information like past data, engagement, and other factors. These can be used by the brands to make necessary decisions. Examples of such tools are Sprout Social, Hootsuite, etc.
3. Personalisation: Till now we must have understood that personalization is an important step that an influencer must take to make the campaign a success. AI analysis of the audience data identifies the relevant strategy and influencers for that segment. This aids in tailoring content accordingly.
4. Content creation: It’s pretty funny but it’s a fact that today an AI tool is required to analyze the use of AI tools. Various chatbots generate content based on certain algorithms and the information that the user provides to them. These AI tools can help influencers make an overall plan for their campaign content and make the process smoother and more productive.
Conclusion
In this dynamic world of marketing, influencer marketing has significant weightage. This marketing strategy can evolve according to the time and its requirements. It has proven to be an imperative factor in all marketing strategies to date. Its reliability, authenticity, personalization, and other sheer advantages are the reasons for its growth. AI along with influencer marketing can be said as one of the most powerful strategies that will change the dynamics of the current digital ecosystem.
External link- https://bit.ly/3vxxvmh
Komal Salagare
Content writer
Chinmay Darakh
Graphic designer
Tanishka Rane
Editor
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Thank you for your response! I’m grateful for your willingness to engage in discussions. If there’s anything specific you’d like to explore or if you have any questions, please feel free to share them. Whether it’s about emerging trends in technology, recent breakthroughs in science, intriguing literary analyses, or any other topic, I’m here to assist you. Just let me know how I can be of help, and I’ll do my best to provide valuable insights and information!
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