As the proud owner of an eCommerce website, you should never underestimate the importance of marketing your business effectively. There are lots of marketing strategies you can try to help increase your store’s revenues. One method you can use to capture the attention of your target market is to create an influencer marketing strategy.
Before we dive deeper into the subject of creating an influencer marketing strategy, let us first understand what influencer marketing means.
In a nutshell, influencer marketing is when a company leverages the popularity of an individual in order to achieve a specific marketing goal. If you engage in influencer marketing, you are using the popularity of one person to boost your brand and drive awareness to a specific market of consumers.
The term “influencer” is used to describe someone who encourages others to act in a specific manner. An influencer is often a trusted individual that people look up to. Basic examples of such people include parents and teachers. These figures can influence the way people think and act.
Studies have shown that influencer marketing works. In fact, based on the 2019 Influencer Marketing Global Survey conducted by Rakuten Marketing, four out of five surveyed consumers admitted they’ve made a purchase based on the recommendations of influencers.
In the past, the term had very little usage. Its rise in popularity began with the proliferation of social media sites in the early 2000s when celebrities began using these platforms to reach out to their fan base. In fact, it was only in 2019 that the word “influencer” was officially added to Merriam-Webster’s English dictionary.
Nowadays, a social media influencer is defined as someone who has cultivated a loyal audience and has the ability to influence that audience through content creation on social media, videos, or blogs.
Some people believe that influencer marketing is something new, but in reality, it isn’t. The act of encouraging people to buy something or to patronize a brand has been around for ages. The question of when this practice began has been subject to debate.
One story states that influencing can be traced back to the Middle Ages when the established influencers were people in power—namely the King, Queen, and churchmen.
Another take on when influencers first made their appearance was in 1760. This was when Josiah Wedgwood of the now-popular Wedgwood brand (which makes high-quality porcelain and china), gave Queen Charlotte a custom tea set. Wedgwood used that event to publicize himself as the “Potter to her Majesty,” giving the brand the royal stamp of approval he was aiming for.
Having a marketing strategy that leverages the popularity of well-known personalities can be crucial to the success of a brand or product. You have to remember that almost half of the world’s population is on social media. If you don’t harness the power of influencers to help boost your brand, you are losing out on numerous opportunities.
In eCommerce, you have to realize that competition is fierce. To help you understand the scope of this industry, keep in mind that there are approximately 7 million retailers online all across the globe. Now, don’t let that number discourage you. There are over 7 billion people on the planet, which means that only 0.1 percent of that number is selling online.
Your main challenge now as an eCommerce brand is to capture the attention of your target market and to get them to choose you over your competitors. This is where an influencer marketing strategy comes in. Getting an influencer to promote your brand will help boost your popularity and your revenues.