There was a time when paid ads were the way to move forward for a marketer. It won’t be an exaggeration to say that paid ads are well past their prime and have lost their charm. According to Mavrck, only 6% of the millennials who form the core of the target group for most marketers find paid advertising to be credible.
According to this post made by Business 2 Community, 70% of the consumers today prefer to know more about a brand, product or service through a well detailed and informative article, a review, an infographic or visual content than a paid advertisement. The same post tells the readers that from 9% click rate in the mid 1990s, the click rate of a banner ad is today down to 0.1%.
These stats point to one fact. Social influencer marketing and powerful content marketing is in while interruptive advertising is out.
Why is interruptive advertising dead?
The most valid reason for the demise and steep loss in effectiveness of paid media is that they were intrusive and interruptive. Nobody likes to see an advert when an important seen in a video or TV is playing out. Most detest the hyperbole and exaggerated claims that are made by paid media. They feel that their intelligence is being questioned.
Also, since clickable or other forms or paid advertisements try to give a strong call to action without really explaining in details, why this product is best for that particular person, blogs, social media posts made by powerful opinion leaders offer a far deeper insight, discuss practical problems and offer innovative solutions.
So, when they talk about a product that can solve a particular problem due to their unquestionable authority in their niche, people believe them more. Moreover, influencer marketing, unlike advertisements are one-on-one meaning the reader can pose a question when they have doubts and get an immediate and detailed reply. Advertisements fail utterly in that regard.
Moreover, people usually follow a blog or a social media icon because they themselves either want to be educated or want to be convinced about a product that they want to buy. So, they pull the content themselves. However, paid advertising is often thrust on the viewers and despite demographic research, keyword and adword research, a product or service is suggested that the target is not seeking. That tends to push people further away from a brand.
Rise of social influencer marketing
A new restaurant which doesn’t have a big brand value or a discernable image today encourages their patrons to write reviews on popular food review forums. This is called consumer advocacy and is a small part of influencer marketing. Based on their niche, the image they want to project and their budget, they may also find out a popular food blogger who has a considerable following and importantly influence on people who could be prospective patrons of this restaurant. The restaurant in question will definitely find the detailed posts made by the blogger about various aspects of the restaurant like food, review individual items on the menu, the ambience, the service, the behavior of the employees, the turnaround time, etc much more effective than investing money on outdoor media ads, click ads or indoor media ads.
This is for the simple reason that they can reach out to a big audience in a quick time. Also, the endorsement from a popular influencer puts to rest the questions about quality that most prospects have. These influencer interactions also address specific queries and can be personalized based on the questions, needs of a prospect.
It is clear that influencer marketing is here to stay for a long time. However, selecting the right influencer is a critical job that a business will have to carry out. Also, track the returns from your investments on various influencers. It is difficult but necessary. Also be in agreement with the influencer and keep him satisfied. Promote his brand and sponsor his contests. This will ensure huge returns in the long run.