Let’s face it, if the digital world were to have an established ‘Royal Family’, influencers would easily reign supreme. Here are some quick facts of the growing power of influencers and the ad power they hold:
- Google Trends shows that the growth of influencer marketing has taken over from traditional marketing strategies
- 51% of marketers believe they acquire better customers through influencer marketing
- 59% of micro-influencers think Instagram is the most effective social media platform to engage their target audience
- Influencer marketing was rated as the fastest-growing online customer-acquisition channel, beating organic search, paid search and email marketing
As a result, working with influencers has become incredibly expensive and at times risky for brands to manage. Are you looking for a cheap and cheerful way around these financial and branding roadblocks? Invest in turning your top social fans into your brand advocates. It is 6-7 times more expensive to acquire a new customer than it is to keep a current one, so why not reward and celebrate the customers you already have? Brand advocates are 5 times more valuable than average customers because they spend more and recommend more. Brand advocates are slowly becoming priceless marketing tools based on organic relationships built with the corporation’s social and marketing team.
If this is a new concept for you, here is how you can identify 3 potential different tiers of brand advocates from your social database:
Fan: Adores and collects your product. Shares and reposts your content and offers feedback.
Fanatic: Lives for your product and personally identifies with your brand. Feels an emotional connection and shares these sentiments with others.
Brand Advocate: All of the above, PLUS enough social clout to motivate purchasing decisions through their own network. Worth the investment.