Essay
Influencer Marketing
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- Coventry University (West Midlands) (CU)
Influencer Marketing
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What is influencer marketing?According to Brown and Hayes (2008), it is defined as the identification and use of
specific key individuals who hold influence over potential buyers of a brand or
product to aid in the marketing activities of the brand. In other words, people with a
big network who have the possibility to influence other people’s purchase decisions.
This marketing technique has proven itself very efficient and has shown to increase
sales and retention (Kumar et al. 2010: Libai et al. 2010). Over the recent years,
influencer marketing has grown to be a multibillion-dollar industry (Schmidt 2018).
To start with a simple question – we see lot of influencer marketing ads every day, so
let me know how many of you actually bought any product after getting influenced by
an influencer. But I think I cannot ask this question to opposition team because their
opinion is biased for time being as they are supporting this topic. But that’s ok
My point is not how many products you have actually bought by watching these ads.
My point is actually who does it and why?
Just suppose if someone is promoting detergent powder then will it like ohh my
favorite actor is using this detergent powder, so I should also use that. We never do
that right! We always try to find out reviews of a product, we take opinions of other
customers and then we use it. Then what is role of influencers here.
If you take the example of pharma companies, brands have gone to next level, like If I
am not well or I need any medicine then I will go to my doctor right or I will go to my
mom, so there is no purpose of influencers promoting those pharma products.
, Now let’s talk about some research and surveys –
1. Micro Biz Mag, it is a digital publication which covers news, opinions, tips etc.
In one of their surveys in March 2021, they took opinion of 1,000 people in the
UK and asked this question:
Which of the following sources do you trust to give an honest review of a product?
And they gave following options to the people –
i. TrustPilot Reviews
ii. The company website selling the product
iii. People you follow on social media
iv. Google Reviews
v. News Websites
vi. Blogs
vii. None of the above
And surprisingly they got quite an interesting data -
Trustpilot Reviews 16.70%
Google Reviews 14.60%
News Websites 6.20%
Blogs 2.90%
People you follow on social media 6.10%
The company website selling the product 2.50%
None of the above 59.40%
So, most people trust no source from their list for an honest review.
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