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from endorsements to brand collaborations, ET BrandEquity

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from endorsements to brand collaborations, ET BrandEquity


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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.

ASCI’s new disclosure guidelines: what it means for finance and healthcare influencer marketing

According to ASCI’s new rules, content creators will have to prominently display their qualifications alongside the content they create.

  • Published On Sep 16, 2023 at 08:30 AM IST

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What Are the Highest Paying Jobs in Every U.S. State: Report

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What Are the Highest Paying Jobs in Every U.S. State: Report

Sometimes, it’s not just about finding a job that pays well, it’s all about location.

A new report from Career.io shows that compensation for the same job can vary from state to state, so where a job is located can really matter, especially if you’re trying to maximize your earnings.

The report matches pay to location by figuring out which jobs yield the highest average salary in each state compared to the national average.

The result is a map of the jobs with the highest earning potential specific to every U.S. state.

Credit: Career.io

The map shows the professions in each state with the highest differences between the average statewide salary and the national average pay.

Related: These Jobs Have the Highest Entry-Level Salaries

Every state has a minimum of one job that pays at least 25% more than the national average.

In midwestern states, such as Minnesota and Indiana, medical professionals make more than they would in other parts of the country.

Physicians take home 38.63% more pay in Indiana, and dermatologists make 56.98% more in Minnesota than either profession makes on average in the U.S.

Related: College Graduates Make the Most Money in These U.S. States

Three states have jobs in business and finance that pay more than 50% more than the national average.

Alaska pays personal financial advisors 66.69% more, Nebraska pays credit counselors 59.46% more, and New York pays credit analysts 50.98% more than the U.S. average overall for those occupations.

1716944163 691 What Are the Highest Paying Jobs in Every US StateCredit: Career.io

Here are the highest-paying jobs in some of the most populated U.S. states and how much more (%) each job pays than the national average.

1. California

Craft artists: 89.06%

2. Florida

Quarry rock splitters: 42.40%

3. New York

Crane and tower operators: 109.03%

4. Pennsylvania

Iron and rebar workers: 65.30%

5. Illinois

Hoist and winch operators: 71.79%

6. Ohio

Mathematical science occupations: 40.46%

7. Georgia

Cloak room attendants: 52.49%

8. North Carolina

Healthcare practitioners and all other technical workers: 34.49%

9. Michigan

Plant and system operators: 63.48%

10. New Jersey

Floor layers: 90.03%

Click here for the full list.

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5 Types of Content That Will Attract Ready-to-Buy Prospects

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5 Types of Content That Will Attract Ready-to-Buy Prospects

Opinions expressed by Entrepreneur contributors are their own.

They say that content is king — but not all digital content is created equal. While most digital content can help increase awareness for your brand, the most valuable content is designed to draw in warm prospects who are ready to make a purchase from you.

Of course, even the best content isn’t likely to result in a purchase on the first exposure. The marketing rule of seven indicates that consumers must be exposed to your messaging at least seven times on average before they decide to make a purchase. While this may often be the case, strong digital content will go a long way in lowering this total.

Related: 5 Digital Content Types Prospective Buyers Love to Engage With Online

1. Email campaigns

Email marketing remains one of the most effective methods for communicating with warm leads and staying in touch with existing customers to ensure they will buy from you again. Not only are emails far more likely to be read than other types of content, but their average return on investment towers over other options.

According to the HubSpot Blog, most marketers see an average open rate of 46-50% and a clickthrough rate of 2.6-3% — numbers that far outpace the engagement levels of social media and other popular forms of content.

Even if they are mostly comprised of previous customers, email lists are an essential marketing tool because they are made up of people who agreed to receive additional messaging from you. This fact alone already makes them far more qualified leads than someone who randomly stumbles across your blog.

2. Personal engagement on social media

While the overall engagement and reach of many social media platforms have declined, there is still much to be said for the potential these platforms offer for fostering one-on-one engagements with your warmest leads.

When marketers comment strategically on other people’s posts, actively participate in relevant groups and conversations, and respond to the comments and messages they receive, it helps create a meaningful dialogue with their target audience.

By pairing this personalized engagement with relevant, authoritative content (including videos, polls and more), you can leverage social media to nurture warm leads.

3. Cost calculators

Most companies have at least some kind of on-site content marketing strategy, which usually revolves around blogging. A blog can be undeniably beneficial for building SEO and domain authority, but depending on the type of content you create, it isn’t always going to create warm leads.

However, if your website content focuses on the customers who are ready to buy now, you can greatly increase your own sales potential — and one of the best ways to do this is with a cost calculator.

From calculating the cost of shipping a car across the country to determining how much it would cost to build your own website, these tools are inherently targeted at warm leads who are ready to make a buying decision. In this case, providing useful budgeting and planning information directly influences the user’s purchasing decision, providing a powerful way of reaching warm leads.

Related: 4 Steps to Writing Content That Converts

4. Webinars

Webinars have become an increasingly popular digital content option, and for good reason. When webinars are promoted to the right audience, they can become far more engaging and attractive to warm leads than a blog post covering the same topic would be.

The simple fact of displaying content in an audiovisual format helps make the webinar feel like an event in its own right. With an engaging topic and professional presenters, you can build a large audience. And when the topic of the webinar itself ties into your offerings, you can create a natural segue into how you can help viewers solve their most pressing problems.

Webinars can be even more effective when paired with other content, such as an e-book or follow-up video lessons. When done right, webinars can be an excellent resource for collecting email addresses and other information from warm leads who are most likely to be interested in your services.

5. Software demos

Admittedly, this digital content option doesn’t apply to every industry. However, there is a wide range of companies that offer software services, addressing everything from tracking logistics and customer relationships to managing the back end of a website.

A software demo gives warm leads the opportunity to try the service before they commit to a purchase. Firsthand interaction and experience with the software is ultimately far more convincing than a series of sales calls could ever be, as this helps buyers clearly determine whether or not a particular product works for them.

It should be no surprise, then, that opt-out free trials see an incredible 48.8% conversion rate. It’s worth noting, too, that companies that don’t sell software can use similar “trial” options, such as a two-week trial for their services. Trials and demos appeal to the warmest buyers, who often use them to finalize their purchase decision.

Related: 5 Steps for Creating a Content Marketing Strategy That Drives Business Results

While regularly updating a blog or social media profile can be useful as part of your content marketing strategy, it is essential that brands in every niche focus on the types of content that are poised to deliver the greatest return.

By focusing on the types of content that are most likely to capture warm prospects in the first place, you can turn more leads into sales and maximize the success of your content strategy.

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Broaden Your Horizons by Learning to Play the Piano with Skoove

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Broaden Your Horizons by Learning to Play the Piano with Skoove

Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners.

Running a business can be all-consuming. However, business people who only talk about work can sometimes struggle to network and socialize, ironically stunting their potential for growth as salespeople and entrepreneurs. That’s why taking up a hobby and developing a skill that might not relate directly to your work can help your company and career.

For a Memorial Day sale running through 11:59 p.m. PT on May 31, you can get a lifetime subscription to Skoove Premium Piano Lessons for only $119.99 (reg. $1,198). Rated 4.5/5 stars on the App Store, this platform is designed to help users develop their piano skills with interactive lessons powered by artificial intelligence.

Skoove uses cutting-edge AI technology that can recognize notes as you play them and then offer adjustments and notes in real time. With this approach, the platform can teach you a wide range of chart-topping songs with over 400 lessons and thousands of instructional videos. With the subscription, you can study tracks by artists ranging from the Beatles to Bach.

Skoove is also convenient to use and practice with. It’s compatible with all pianos and keyboards, including USB/MIDI and acoustic ones. It also works with both iOS and Android operating systems on tablets, smartphones, and computers. To broaden your horizons, consider adding it to your life today.

Remember that during a special Memorial Day sale that runs through 11:59 p.m. PT on May 31, you can get a lifetime subscription to Skoove Premium Piano Lessons for only $119.99 (reg. $1,198) with code ENJOY20 at checkout.

StackSocial prices subject to change.

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