We live in a rapidly changing world, and marketers need to be able to keep up with these changes or risk becoming obsolete. Mobile and digital devices have become such an integral part of the human life that marketers must leverage on them if they are to meet the demands of consumers.
Similarly, in the area of lead generation and having a deeper insight into customer life cycle on social media, knowledge of the Four Ms of influencer marketing is a must-have! The Four Ps of marketing; Product, Price, Promotion, and Place will not suffice for clients and employers in this present age. You have to concentrate on connecting with actual online influencers: individuals that have the charisma to attract a large number of customers to your sales funnel, ultimately increasing your conversion. These four Ms of Influencer Marketing would help you view online influence from the right perspective.
What Marketers Stand to Gain
Generally speaking, all marketing that is carried out via any digital channel is influence marketing. Based on the product or service you are trying to market, there are persons who can help you move customers along the purchase life cycle. These influencers, with their brand, can create a stronger awareness for your product/service and motivate customers to purchase.
Although social scoring platforms like Kred, Klout, and PeerIncex have a different definition for the influencers of the marketing circle; the true influencer remains the customers. Customers can make or break your brand.
When it comes to customers as brand influencers, there are certain things you need to know. You need to know who your customers are; the point in the purchase cycle where they are; who and what best influences their decisions: and the factors that could contribute or deter a consumer from making a purchase. Having this information would greatly increase your sale conversion.
The 4 Ms of Influencer Marketing
Customers’ needs vary at each stage and identifying a customer’s stage will help inform you of what tactic is best suited for that customer. The right influencers can then be sourced specifically for moving the customer to the next stage in the cycle.
The purchase life cycle can be broken down into three broad stages:
· The research stage (customers need information at this stage).
· The awareness stage (customers seek validation from third parties at this stage).
· Intent to buy (customer are convinced and what to purchase your product/service at this stage).
Customers’ needs vary at each stage and identifying a customer’s stage will help inform you ofwhat tactic is best suited for that customer. The right influencers can then be sourced specifically for moving the customer to the next stage in the cycle.
Having identified your customer’s stage and need as well as selecting the best influencer to meet this need, managing the information that the customer is presented with is the next task.
Linguistic mapping and text analytics can now be employed to determine what words or phrases best resonates with your target customer. The phrases that generate positive feedbacks and move customers along the purchase life cycle are promoted and used more often while the negative ones are discarded.
Monitoring the marketing campaign is the next phase, and the information obtained from this process is crucial to the success of the influence marketing campaign. Depending on your product or services various customers will be interested; it is up to you to determine which influencer can get them to the next stage of the product life cycle and what factors influence the conversion process. You need to monitor the message you are presenting to your customers and what effect it has on their intent to purchase. The factors to monitor will vary from business to business; marketers will have to be able to adapt and change tactics when necessary.
Influence marketing is all about results. Consequently, various factors will have to be tracked, assessed, and worked on to perfect the next marketing campaign. Some of the factors that need to be tracked and measured include what message resonated well with your target audience, and what influencer help advance customers the most in the product life cycle.
Your brand and Influence Marketing
The power of influence in lead generation and customer acquisition cannot be over emphasised. And the present approach of public scores as presented by social scoring platforms needs to change. Influence marketing entails more than blog posts, social media contents, and social shares; it is defined by consumer actions and sales conversions. Influence marketing is what propels a consumer to make a purchase!
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