How Fortune 1000 Companies Are Seeing Massive Success Through Influencer Marketing
According to a poll from Tomoson, influencer marketing generates $6.50 in revenue for each $1 of marketing spend. The same poll also suggests that influencer marketing is the fastest growing social media marketing strategy, eclipsing other popular digital marketing techniques like display ads, paid social marketing campaigns, and affiliate marketing campaigns.
Why? Influencer marketing is the new friend and family recommendation for social media advertising. According to Nielsen’s Trust in Advertising report that comes out each year, recommendations from friends and family is always the first trusted source of information for consumers looking to make a purchase.
As consumers, we’re wary of brands and looking to spend our money on something proven, which is where an influencer can bridge the gap. With an audience approaching thousands or a million followers, content marketers create content strategies that make consumers feel that they can trust a product recommendation. They’ve cultivated a relationship online with digital experiences that mimic that of real-life friendships, just on a social media platform.
And companies both large and small are noticing. Influencer marketing on Instagram, Facebook, or Twitter can be powerful for small brands and agencies looking to gain market share, but even Fortune 1000 companies or a huge technology company can find new ways to reach customers with B2C or B2B influencer marketing strategy.
Reaching New Audiences
Fortune 1000 companies have the benefits of brand awareness and recognition, but that doesn’t mean that every customer wants what they have to offer. Some legacy brands have a reputation for being outdated or too targeted, which may turn off potential customers in a small audience. These brands may also have a reputation that’s off-putting to some consumers, whether earned or not, and a content creator offers a marketing solution and social strategy for reputation management.
With an older company that’s looking to break into a young audience, an influencer can be a valuable “middleman” to help the company reinvent its image and promote what it has. If that company doesn’t have a huge social media presence, there’s an opportunity for an influencer to tap into enormous potential and boost organic search results.
A great example of this is Walmart using celebrity influencers like Sofia Vergara and Drew Barrymore to promote its products as on-trend. Target also used celebrity influencers and Instagram and YouTube influencers to announce trendy lines and get customers engaged.
Moving into New Markets
When a legacy brand expands its product offerings and needs to move away from a common image, a social media influencer can help. Fortune 1000 companies like General Motors and Ford used influencer marketing to beat the rhetoric around gas-powered vehicles and reinvent themselves as leaders in the electrification of vehicles.
This also comes with a possible new logo and rebranding, as well as a campaign about the new generation of buyers and electric vehicle adoption. To push this message, General Motors intends to use influencers like Malcolm Gladwell, a professional surfer, and shark attack survivor Bethany Hamilton. Both of these influencers help with the message of caring for the planet by making more eco-conscious decisions and promoting a legacy brand on a social media channel.
Shifting Public Perception
Public perception and trends can pivot in an instant, and Fortune 1000 companies aren’t immune to these effects. Amid the COVID-19 pandemic, attitudes changed regarding vaccines shifted and polarized, and it was up to advocates to reach out to consumers.
Along with federal and local government campaigns with celebrities urging the public to get vaccinated, pharmaceutical company Pfizer is considering how to build relationships with advocates and influencers and create valuable digital experiences on social networks like Facebook and Twitter.
Within the sector, Pfizer adopted social channels much quicker than competitors. This was in part to align with the stakeholders, so choosing influencer marketing is a sensible decision for the brand. Pfizer is looking to create advocacy groups with bloggers, social media content creators, and top social media influencers to promote the vaccine and patient-focused care.
The pharmaceutical industry is bound by numerous regulatory restrictions for communications and marketing, so taking on brand and influencer partnerships is challenging. But the brands themselves can’t connect with consumers the way other brands do, which is why data-driven influencer marketing can help these brands enhance their relationships with the brand and the product.
Grow Your Business with Data-Driven Influencer Marketing Strategy
Influencer marketing is growing to become one of the most important online marketing channels for building brands’ awareness and recognition. Both small and large businesses can see incredible returns with full-service influencer marketing partnerships for lead generation, reputation management, and brand awareness. And most importantly, brand and influencer partnerships are a modern substitute for the old friend and family recommendation or word-of-mouth referral, bringing Fortune 1000 brands into the world of social media advertising and new consumers.