One of the most important aspects of social influence marketing is how to participate in the space in which your consumers are. The key is to participate where your consumers are and to focus on value exchanges. This means that you have to know who your consumers are, where they are, and how they are interacting with you and your products.
Focus on value exchanges
A good place to start in the quest for social media marketing success is with an understanding of the value exchange. As a rule of thumb, an exchange is one wherein two or more people exchange a commodity. The recipient receives more in return than what he or she gave up. In the context of marketing, a value exchange is a win-win situation.
It’s not hard to see why a well executed value exchange is the new marketing king. Unlike the old fashioned slap on the wrist approach, the value exchange model is a two-way street. In other words, a product or service is worth more to the customer than it costs to acquire. Hence, it’s not surprising that customers are looking for more than just a price tag.
Participate where your consumers are
Social influence marketing is a type of new marketing form that is changing the way companies market products. It involves the recognition of consumers’ purchasing decisions. The goal of these types of strategies is to give consumers the power to shape a brand. They also use online tools such as social networking sites to help marketers get in touch with customers.
Compared to traditional marketing strategies, this approach focuses more on the end-to-end experience. This means that marketers will be more transparent about their brand and how it’s developed. They will also need to engage with consumers both online and offline.
One of the main components of this type of marketing is influencers. They are individuals who have a high impact on consumer buying decisions. This can include bloggers and members of social networking sites.
Top down branding and social advertising
The top down and bottom up model of branding is not the be all and end all of marketing. This is a great time to revisit the old adage, “you only get what you pay for”. Developing a social media plan is a great way to hone your brand’s message, albeit on a smaller scale. A company that makes it easy to participate can be a winner in the long run. A solid social media strategy is an essential ingredient to a happy customer. The right people, at the right time, can make or break your success. A social media strategy should be shared across all departments and locations. In addition, there are various metrics to track such as number of new users, time spent on social media platforms, and number of conversations on various social media sites.
Lack of creative freedom
A recent Crowdtap study shows that social influencers would rather work with brands that give them creative freedom. The results also show that brands that don’t have full control over content could find it difficult to find influencers in the future. It’s critical to understand what type of creative freedom your influencers want and how that can impact your marketing efforts.
This is because a lack of creative freedom can be detrimental to your marketing strategy. It may hinder your ability to make strategic changes and measure ROI. It can also damage your relationship with your influencers. Keeping track of your influencer’s creative freedom preferences will help you choose the right brand to partner with.
One of the top creators in the world, Viraj Ghelani, was at a session hosted by GroupM called Brew2022 where he spoke about his experience as a creator. He said that he had to deal with some severe pressure when creating his content, but it still led to some pretty good ideas.
