AFFILIATE MARKETING
from endorsements to brand collaborations, ET BrandEquity
The rapid growth and popularity of social media marketing has been accompanied by an increasing number of people endorsing different brands, products, and services online, to their large follower bases. This unique form of advertising would come to be known by the term influencer marketing. Today, influencer marketing is almost omnipresent in the advertising space, with brands vying for the attention of the large pool of consumers that these influencers have amassed.
Over the years, influencer marketing has been on a continuous upward trajectory, now being valued at over $21 billion dollars, according to the State of Influencer Marketing 2023 Benchmark Report. Moreover, data from the IMH State of Influencer Marketing Report has uncovered that more than 82% marketers have a dedicated budget for influencer marketing, with more brands looking to increase their spends over time.
Simply put, an influencer is someone characterized by a large follower base that enjoys a fan following from their audience. This gives them the power to influence people via the power of advocacy, i.e., if the influencer endorses something, their followers would follow suit too. This is achieved via a closer-knit rapport that influencers have with their fanbase, which sets them apart from celebrities/ personalities in this regard.
Here, followers see their influencers as regular human beings just like them, and find a sense of reliability with them. This sense of being grounded, to facilitate communication that is more human-like is something that brands struggle with even today, and why they look to influencer marketing as a solution to this conundrum. Building a connection that feels more personal is an important step for brands to succeed in today’s day and age, even more so with the industry saturation that has come as a result of many competitors.
Influencers themselves are real-life consumers of the products and services that brands build. They are an authentic reflection of the same things that consumers go through on a day-to-day basis. This leads to a feeling of transparency between followers and influencers. Collaborating with them thus creates a sense of trust with newer groups of consumers who are already familiar with the influencer they are following.
Influencer marketing has caused major disruptions in the marketing industry by introducing a level of authenticity and transparency that is unparalleled to other forms of traditional marketing. This leads to customers engaging with the influencers’ content directly, creating a two-way communication in the brand’s marketing.
As a spillover effect, it has encouraged many more people to become influencers in their own right. Now, the landscape is filled with micro influencers, each collaborating with brands both small and big. This has further led to a segregation in the types of influencers, namely micro and nano influencers.
Micro influencers that are influencers with a following of 10,000 to 100,000 followers often create content corresponding to a particular niche, such as fitness, or food, as examples. Their larger reach naturally means that brands would have to invest more on collaborating with these influencers.
Nano influencers, as the name implies, come with a smaller follower base, usually less than 10,000 followers. In spite of their reduced reach, this group is considered to be more authentic in nature given that the content they post is a lot closer to what regular consumers who aren’t influencers would post. This is because they have just started out and are amassing a following in their initial stages. Collaborating with nano influencers also incurs lower costs for brands.
One of the biggest reasons why influencer marketing is so successful for brands is because it builds social proof. This refers to a psychological phenomenon wherein people look to others to help them make decisions, especially when they may be uncertain, unfamiliar, or simply unable to decide how to go about a purchase. Here, customers tend to conform to the actions of the people they see around them, especially if they are deemed to be credible.
When it comes to marketing, social proof is an excellent way of influencing potential customers by visually guiding them to make a purchase of a particular product or service. Because the product or service in question is seen as favourable to the influencer, their followers can then know that it would give them the same experience as well. The end result of this is customers feeling confident to make a purchase, because the influencer that they adore has experienced the same.
At present, brands benefit from including influencers in their affiliate marketing programmes. With their large following, influencers are able to put brands right in front of consumers, across social media platforms. This unique partnership between influencer and affiliate marketing involves influencers promoting products via affiliate links. When consumers make purchases via these links, the influencer makes a commission or percentage of the sale.
In recent years, influencer commerce, a new phenomenon, has taken the centre stage in influencer marketing efforts. This is a sub-genre of e-commerce that is characterized by selling products in collaboration with influencers. It enables brands to sell their products to consumers via influencers’ social media channels, thereby allowing for very direct purchases.
As time goes by, influencer marketing will only continue to be heavily leveraged to help customers feel closer to the brands they buy from or subscribe to. One of the biggest trends that is already visible is brands collaborating with influencers that have smaller follower bases. This is to help build that sense of connection with audience groups across a larger pool of influencers, while also managing their allocated marketing budgets better.
Moreover, brands have increasingly been looking to build longer relationships with influencers, which comes as a stark contrast to how influencer partnerships would usually be a short/ one time act. With technology continuously evolving at a breakneck pace, geographical borders will continue to be irrelevant, as brands reach out to influencers on a global level. This will also positively impact the overall reach by introducing their products and services to audiences far across the world.
With every new development and technology, and every impact it has on influencer marketing, brands must always remember one thing – that influencers are themselves customers who face the same problems as people do in their regular lives. This should encourage brands to create strategies that are more collaborative in nature, rather than ones that make influencers emulate celebrities in the way they endorse brands.
According to ASCI’s new rules, content creators will have to prominently display their qualifications alongside the content they create.
AFFILIATE MARKETING
8 Common SEO Myths Debunked
Opinions expressed by Entrepreneur contributors are their own.
In today’s digital landscape, a strong Search Engine Optimization (SEO) strategy is crucial for businesses to thrive. SEO helps websites rank higher in search engine results pages (SERPs), driving organic traffic and boosting online visibility.
However, the world of SEO is also riddled with myths and misconceptions that can lead businesses astray. Let’s debunk some of the most common SEO myths and separate fact from fiction.
Myth 1: More keywords mean better rankings
Gone are the days of stuffing your content with every keyword imaginable. Google’s algorithms have shifted towards natural language processing (NLP), prioritizing content quality and user experience above keyword density. While keywords remain important, focusing on keyword intent and strategic placement throughout your content is far more beneficial than keyword quantity.
Fact: Research relevant keywords related to your target audience and their search queries. Use those keywords naturally within your content, focusing on providing informative and engaging information that fulfills user intent.
Related: Ultimate SEO Guide On How to Get 100,000 Visits Per Month From Google
Myth 2: Meta tags don’t matter anymore
While meta tags may not hold the same weight they once did, they’re far from irrelevant. Title tags and meta descriptions are like billboards for your content, serving as the first impression users see in search results. Compelling and informative meta tags can significantly improve click-through rates (CTR) and user engagement.
Fact: Craft clear, concise, and keyword-rich title tags that accurately reflect your content. Similarly, write engaging meta descriptions that entice users to click. Keep your title tag under 60 characters and your meta description around 160 characters to ensure they display fully in search results.
Myth 3: Social media directly influences SEO rankings
Social media shares and likes don’t directly translate into higher search rankings. However, social media plays a vital role in online visibility and brand awareness. Strong social media engagement can drive traffic back to your website, indirectly contributing to SEO by increasing user engagement and potentially influencing click-through rates.
Fact: Utilize social media platforms to share your content and connect with your audience. Encourage social media followers to share your content further, expanding your reach and driving more visitors to your website.
Myth 4: Backlinks are no longer relevant
Backlinks, or links from other websites to yours, remain a cornerstone of SEO. High-quality backlinks from reputable websites act as a vote of confidence for your content, signaling to search engines that your site is trustworthy and authoritative. This can significantly boost your domain authority and improve search rankings for relevant keywords.
Fact: Focus on acquiring backlinks from relevant websites within your niche. Create high-quality content that others will find valuable and link to naturally. Avoid spammy link-building tactics, as they can actually harm your SEO efforts.
Related: 9 SEO Tips to Help You Rank No. 1 on Google in 2024
Myth 5: SEO is a one-time effort
If you think you can optimize your website once and reap the benefits forever, think again. Search engines constantly update their algorithms, and SEO is an ongoing process. To maintain strong search rankings, you need to stay on top of SEO best practices.
Fact: Regularly update your website content with fresh, informative, and engaging material. Review your keyword strategy periodically and adapt to changes in the search landscape. Stay updated on the latest SEO trends and best practices to ensure your website stays relevant.
Myth 6: Mobile optimization doesn’t matter
With the majority of web searches now conducted on mobile devices, having a website that’s optimized for mobile browsing is no longer optional. Search engines prioritize mobile-friendly websites in search results, ensuring users have a positive experience when accessing your content.
Fact: Make sure your website has a responsive design that adapts seamlessly to different screen sizes and devices. Ensure fast loading times and easy navigation for mobile users.
Myth 7: Paid advertising can replace SEO
While paid advertising (PPC) can be a valuable tool to drive immediate traffic, it’s not a replacement for SEO. The benefits of SEO are long-term and sustainable, with organic traffic continuing to flow to your website even without ongoing ad spend.
Fact: Develop a strong SEO strategy alongside your paid advertising efforts for a well-rounded digital marketing approach. Organic traffic can provide a more cost-effective source of website visitors in the long run.
Myth 8: Focusing on local SEO doesn’t matter if I sell online
Even for e-commerce businesses, neglecting local SEO can be a missed opportunity. If you have a physical location or offer local delivery, optimizing your website for local search terms can significantly increase your visibility to potential customers in your area.
Fact: Claim and manage your Google My Business listing to ensure your business information is accurate and up-to-date. Utilize location-specific keywords throughout your website content and target local search queries.
Conclusion
Staying informed about SEO best practices is crucial for optimizing your website and achieving success in the digital marketplace. Don’t be swayed by outdated myths or quick-fix SEO schemes. Focus on creating high-quality content, building a strong backlink profile, and staying updated on the latest SEO trends.
AFFILIATE MARKETING
Most Employees Are Secretly Using AI Tools At Work: Report
Most people are using AI at work, whether their bosses know about it or not. Meanwhile, company leaders are simultaneously looking for non-technical talent with AI skills.
A new joint report from LinkedIn and its parent company Microsoft released Wednesday revealed the almost contradictory state of AI at work, as employees discreetly use AI tools and employers seek out candidates with those skills without the majority investing in internal training or tools.
The survey took in responses from 31,000 people across 31 countries between February and March drawing from research that Microsoft conducted with its Fortune 500 customers to add an employer dimension to the survey.
Company leaders showed in the survey that they overwhelmingly favored job candidates with AI skills, even non-technical talent that could use generative AI like ChatGPT.
In the report, 66% of the leaders stated that they would not hire someone who didn’t have AI skills and 71% said that they would probably hire a less experienced candidate with AI skills over a more experienced one without them.
Related: These 4 Words Make It Obvious You Used AI to Write a Paper, According to New Research
Despite employer demand for AI knowledge, lower percentages have provided AI training (39%) or invested in AI tools (45%) for employees.
Regardless of whether employers provide training, more employees than ever have adopted AI tools and are reaping the productivity benefits, even as they fear losing their jobs to the technology.
Three in four knowledge workers, defined in the study as employees who work from a desk, use AI to help get things done at work. The main reason 90% of these respondents reported using AI was to save time.
About half of the group (46%) that use AI recently started using it, within the past six months, and the majority of them (78%) are using AI tools at work “without guidance or clearance from the top.”
At small and medium-sized companies, the percentage of workers taking this “bring your own AI” approach is even higher: 80% of employees use AI discreetly, without a go-ahead from higher-ups.
The trend applies across generations — 73% of boomers and 85% of Gen Z reported using AI tools not provided by their companies.
Related: JPMorgan Says Its AI Cash Flow Software Cut Human Work By Almost 90%
At the same time, about half of the employees (45%) said they were worried that AI could replace their jobs.
Companies, like $7 billion “Buy Now, Pay Later” Klarna, have indicated that AI would pick up the responsibilities of laid-off workers. Klarna stated in February that its AI chatbot “is doing the equivalent work of 700 full-time [customer service] agents.”
The reason why employees are turning to AI tools, despite fears of AI replacing them, could be that they are dealing with higher workloads. The majority surveyed in the report (68%) stated that they find it hard to keep up with the amount of work they have to get done. Nearly half (46%) report feeling burned out.
“The data is clear: People are overwhelmed with digital debt and under duress at work— and they are turning to AI for relief,” the report reads. “The opportunity for every leader is to channel this momentum into ROI.”
AFFILIATE MARKETING
Panera Discontinuing Charged Lemonade Drink After Lawsuits
Panera’s Charged Lemonade has been under fire from consumers and regulators after lawsuits alleged the highly caffeinated beverage has been the source of long-term health problems and even death.
Now, the chain has decided to phase out the drink as a part of overarching menu changes.
RELATED: ‘100% Should Be Illegal’: Woman Exposes Jaw-Dropping Amount of Caffeine in Panera Lemonade
“We listened to more than 30,000 guests about what they wanted from Panera, and are focusing next on the broad array of beverages we know our guests desire — ranging from exciting, on-trend flavors, to low sugar and low-caffeine options,” a spokesperson for Panera told CNBC.
According to Bloomberg, Panera will begin discontinuing the drink within the next two weeks and replace it with a “broad array of beverages” featuring a blueberry lavender lemonade, a pomegranate hibiscus tea, a citrus punch, and a tropical green smoothie.
The beverage was at the center of three major lawsuits, two of which were filed on behalf of the families of 21-year-old Sarah Katz and 46-year-old Dennis Brown. Both died after allegedly consuming the Charged Lemonade, citing pre-existing medical conditions.
Another lawsuit filed in January claimed that 28-year-old Lauren Skerritt developed long-term heart problems as a result of consuming two and a half of Panera’s Charged Lemoandes.
“You put an innocuous product like lemonade in an innocuous bakery-cafe like Panera, what reasonable consumer is going to be thinking that they’re drinking, essentially, three Red Bulls?” said Skerrit’s lawyer Elizabeth Crawford at the time. “Everything in her life has been altered because of this situation.”
Per Panera’s nutrition information, one large 30 oz. serving of the Charged Lemonade contains 390 mg of caffeine in addition to guarana extract, a natural stimulant.
Related: Panera Sued: Alleged Charged Lemonade-Related Heart Issues
According to the FDA, the maximum amount of caffeine that the average adult can safely consume per day is 400 mg, though the average adult consumes about 135 mg of caffeine daily.
Panera did not immediately respond to Entrepreneur’s request for comment.
How Tagging Strategies Transform Marketing Campaigns
Daily Search Forum Recap: May 3, 2024
Tinuiti Recognized in Forrester Report for Media Management Excellence
The Top 5 AI-Powered Tools for WordPress Creatives – WordPress.com News
Google Performance Max For Marketplaces: Advertise Without A Website
Standard Performance Max vs Performance Max for Retail
The Industry Mourns The Loss Of Mark Irvine
A Recap of Everything Marketers & Advertisers Need to Know
The key to correcting the C-suite trust deficit
Keep the Office Cool This Summer with $10 Off a Klima Thermostat
-
MARKETING5 days agoHow Tagging Strategies Transform Marketing Campaigns
-
SEARCHENGINES6 days ago
Daily Search Forum Recap: May 3, 2024
-
MARKETING6 days agoTinuiti Recognized in Forrester Report for Media Management Excellence
-
WORDPRESS7 days agoThe Top 5 AI-Powered Tools for WordPress Creatives – WordPress.com News
-
SEO6 days agoGoogle Performance Max For Marketplaces: Advertise Without A Website
-
PPC7 days agoStandard Performance Max vs Performance Max for Retail
-
SEARCHENGINES5 days agoThe Industry Mourns The Loss Of Mark Irvine
-
MARKETING4 days agoA Recap of Everything Marketers & Advertisers Need to Know
