1. The rise of influencer marketing agencies
With $1.9 billion spent on influencer marketing in the US and Canada alone, it’s clear that influencer marketing is no longer a passing market trend. And with the growth of influencer marketing has come the rise of agencies and networks that exist to help companies and influencers connect. Sounds perfect for both parties, right? Not necessarily. While this approach may help retailers achieve short-term influencer impression goals, many influencers claim that agency involvement can make it harder for them to form long-term relationships with brands—a key factor when creating original, relevant content. On the other hand, influencer agencies see their existence as a sign that the industry has matured. Gone are the Wild West days of influencer marketing—agencies’ involvement is meant to make sure brands are getting the scale, benchmarks, and results they deserve. But which approach is best for your business? Read the full article.
2. Why word of mouth works better for niche products and ideas
While we all know that a friend or family referral to your business is marketing gold, a recent study claims that word of mouth marketing works even better for niche products and businesses. The reasoning? Imagine you’re scrolling through social media and you see a sponsored ad for a product you’ve never heard of. Do you click on it? Probably not. Now, let’s say that a close friend posts a review of a product you’ve never heard of. Do you click on it? Probably yes. But why? Consumers are savvier than ever and very few believe everything we see online. So, who do they trust? Friends and family. Once a friend is making a recommendation, it acts as confirmation from a trusted source that this product is good. Word-of-mouth provides a personal touch that can raise awareness and make a more niche product or service seem trustworthy. Read more.
3. How many bad reviews is too many? Surviving bad customer reviews
Customer reviews can make or break a product or service. But which is more important, cultivating glowing reviews or avoiding a few negative ones? A recent study examining click-stream data from large online retailers in the UK found that the presence of one negative review on an otherwise positively reviewed product page lowered customers’ probability of purchase by 50 percent on average. That’s a pretty powerful effect. But that’s not all—moving the negative review onto the second page increased the likelihood that customers would buy the product by 40 percent. While this doesn’t apply equally for all products (you’re more likely to check out the reviews for a laptop than a lightbulb), products where reviews count more also generally have more reviews. This means that the negative review will disappear from the first page faster, while the bad reviews on rarely reviewed products last longer. So what’s the best strategy? Approach bad reviews as your most important feedback. Working to resolve issues and please unhappy customers might just turn a negative review into a positive one. Check it out.
4. The serious ways employee engagement can help your business
We all know employee engagement is important. We all want dedicated, enthusiastic employees, but in reality, that’s not always possible. But do disengaged employees come with a cost? A recent study by the Engagement Institute (a collaboration of top firms like Deloitte, The Conference Board, and Sirota-Mercer) says yes. The study estimated that disengaged employees cost their employers between $450 and $550 billion a year. That’s enough to make any business rethink their employee engagement schemes. But there’s some hope—most employees admit to recognizing when they’re becoming disengaged. This means that if employees know when they’re getting disengaged, you can act. How? Employee engagement surveys are a good place to start when identifying specific policies and procedures that are boosting (or dragging down) morale. Another approach is to have supervisors simply ask when conducting performance reviews or periodic check-ins with their employees. Making employee engagement a part of regular discussions shows employees that their happiness is a priority, but it requires that you also act on those insights. In the end, there’s no easy cure for disengagement, but addressing the problem head-on is a good place to start. Read more.
5. Four questions to boost your business’s social media marketing
By 2021, there will be over 3 billion monthly active users of social networks. Let’s say that again: 3 billion. And that’s not all, it’s estimated those users will spend over 2 hours per day on social media sites. But before you pour all your money into flashy sponsored content, remember that the 24/7 nature of social media means consumers are interacting with your content constantly and in real-time. Staying effectively engaged with consumers requires forethought and clear objectives. After all, delivering what customers expect of your brand is more important than aesthetics. So how can you make the most of your social media marketing? First: identify your goals and success metrics. Are you looking to create brand awareness, hype up a new product or boost sales? How many likes or new customers are driven to your website will mean your campaign is on track? Second: who’s your target audience and what platforms will reach them most effectively? Third: know your content strategy. What kind of content drives the engagement you want? Is it unique, useful and shareable? And fourth: engage with your audience. Are you ready to engage with your audience like they engage with you? Are you listening and engaging with the questions, suggestions, and crucially, complaints from your audience? Be sure to answer these top 4 questions to ensure that your content is bringing great value to both you and your customers and you’re making the most of your social media strategy in today’s digital world. Read the full story.
6. Buyapowa’s new VIP concierge service
This probably won’t come as a surprise, but refer-a-friend programs are a dream come true for influencers. Not only do they get rewarded each and every time they generate a sale, but they get to share some sweet incentives with their fans and followers, instead of simply marketing to them. It’s a win for them, a win for you and a win for their audiences, too.
What’s not quite so dreamy for influencers, though, is having to go through the whole sign-up process, just like everyone else. That’s why we’ve introduced a new VIP Concierge service for influencers. It’s like the fast-track check-in at the airport, only without any tedious questions about who packed whose bags.
For more information on how this works, feel free to contact us and we’ll be more than happy to talk to you through it.