Social media influencers and modern marketing

Social media influencers and modern marketing

There’s no doubt that social media influencers are a part of everyone’s lives. You may not even realise how many influencers you follow online or even take notice of how many posts you pass every time you’re on social media that is from an influencer. They seem to becoming a more effective and cheaper option for brands to invest in for marketing.

In an interview on ABC News which discussed the power of social media influencers in modern marketing, Lorraine Murphy, Founder of the Remarkables Group stated that “kids used to want to be a popstar, now they want to be a famous blogger or famous YouTuber” (Online News Digital, 2016). From the perspective of someone who has grown up in a generation of new technology I completely I agree with this statement. As an adolescent I would often aspire to be a blogger or YouTuber, even going as far as making home videos lip syncing to my favourite song, dancing or pretending to cook or create something. Fortunately for my reputation and dignity, those videos where never aired online and were later deleted. I’ve even had my fair share of different blogs; at one point I was doing well but lacked the motivation and willpower to continuously find something to write about and that dream quickly fizzled out. Now, I use a blog more as a business profile; a place where I can portray my work and show to employers.

Social media influencers are becoming the new ‘thing’ in modern marketing because of their effectiveness to reach large audiences for a cheap price. Popular supermarket brand Coles has cut over half of their spending on magazines and newspapers and are now focusing on social media influencers to advertise their products (Online News Digital, 2016). Other brands such as Qantas, Priceline and Bonds are also jumping on board this new marketing trend (Online News Digital, 2016).

Head of Marketing for Qantas, Stephanie Tully says that businesses are making the move into this way of marketing in the modern world because marketing teams just can’t keep up with the price of traditional marketing.

“Marketing teams can’t afford to just use traditional channels anymore” – Stephanie Tully

(Online News Digital, 2016)

Why would businesses stretch their marketing budgets on traditional advertising when they can cut costs by paying social media influencers to promote their product and receive greater results? It has been an effective approach so far and a study out of Europe confirmed this when bloggers and social media influencers were ranked third and fourth on a survey about whose opinion consumers trust when it comes to purchasing and using products under friends and family (ref).

In my opinion, I think that social media influencers will become the more affordable and effective approach for businesses to market their brand which ultimately poses a threat to the future of traditional marketing tactics. It will be interesting to see if traditional marketing will adapt to compete with these social media influencers or fizzle out like my dream to become a famous blogger.

To view the ABC News story click on this link.

Jessica Miller

Sources:

Online News Digital. (2016, March 23). ABC News – The Power of Influencers in Modern Marketing. Retrieved from https://www.youtube.com/watch?v=xChnBUJBqKI

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