Influencer Marketing is a form of marketing where the focus is placed on key individuals who can influence the buying decisions of the target market.
A 2010 study by the McKinsey Quarterly team found that “marketing-induced consumer-to-consumer word of mouth generates more than twice the sales of paid advertising.” This positive impact seems to be lasting – the same study found that customers acquired through word-of-mouth had a 37 percent higher retention rate.
Although this study focused on word-of-mouth marketing, there are many parallels between influencer marketing and word of mouth. Your brand’s advocates review and promote the products or services you offer, which becomes a form of a direct recommendation.
Read moreInfluencer Marketing 101 – How To Find The Right Influencers