'The Money Wand'

Where the Magic of All Things Money Begins

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Just out of curiosity, how many of you know what social media marketing or influence marketing really is? I have to make a confession, before seeing a local news report and deciding to write this post, I did not know what these two statements really meant or how important to my business they truly are.

Yes, I had heard of them but, never really gave them much thought, until now. Let me explain…

2018-macys-thanksgiving-parade
2018 Macy’s Thanksgiving Parade

At the time I am writing this post, Thanksgiving 2018 is in full swing. My mother and I are gathered in the kitchen Thanksgiving morning starting our holiday cooking traditions. While cooking, we have always made it a tradition of watching the Macy’s Thanksgiving Parade, something she started when I was a baby, and this year is no different.

This particular Thanksgiving morning, our local news station was on and running a report about the upcoming craziness of holiday shopping. The news anchor was talking about “Social Media Marketing”, ” Influence Marketing”, and how they have a big impact on this holiday shopping season, more on that subject below.

As I sit chopping onions and celery for our Thanksgiving dressing, I am hanging on to every word the news anchor is saying since my new business is blogging, this can be beneficial information for the future of my blog and how I can market it on social media.

 

 

Influence Marketing?

1930-coca-cola-santa
1930 Coca-Cola Santa

Influence marketing is not a new concept for marketing. Actually, some first influence marketing can be found in the 1930s, when Coca-Cola started using a jolly, old, white bearded man in a red and white coat, we all know today as, Santa Claus. Yes, this is true, Santa as we know him today, was actually an advertising campaign created by Coca-Cola.

Another great example of a branding Influencer for marketing, during this time, is Kellogg’s cereal mascot, Tony the Tiger. Companies have been using personas and catchy jingles to sell their products for a very long time now. While they didn’t call these mascots “Influencers” back then, that is exactly what they were. A brand image that is still with the company today.

Today, Wikipedia gives the definition of Influencer Marketing as this: Influencer marketing is a form of marketing in which focus is placed on influential people rather than the target market as a whole on social media. What does this mean exactly?

An Influencer will speak highly or poorly to customers about your brand, products or services. The focus is placed on influential people, that have influence over potential customers, and orients marketing activities around these Influencers, rather than the target market as a whole.

 

 

What is Social Media Marketing?

With nearly 60% of Millennials making buying decisions from what they see on social media, it is no wonder companies have been jumping on the social media marketing bandwagon for decades now.

social-media-shopping
Social Media Shopping

According to Wikipedia: Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers.

With social media becoming the fastest growing trend in the history of the world, it is no wonder it is big news in business. If your business isn’t using social media to market it products, you are losing out on a huge platform for marketing. You can market on almost all social media networks such as Facebook, Twitter, Pintrest, and Instagram, just to name a few.

Let’s step back in time for a moment… It is 2016 and you are scrolling through Facebook and you see an ad for M&Ms Flavor Vote. M&Ms decided to let the fans decide its new peanut flavor. Fans had to choose between Honey Nut, Chili Nut, and Coffee Nut. They decide to run the vote like a mini-election. It was the year for picking a President so, why not a M&M flavor as well.

m&ms-flavor-vote
M&Ms Flavor Vote

M&Ms; appointed Emmy award-winning actor Tony Hale to act as the official Campaign Manager for the Flavor Vote. They also had social influencers to help spread their message and create visual content to encourage people to try the flavors and vote. M&Ms considered these people to be Campaign Staffers but, they were really Influencers.

They developed the hashtag #MMSFlavorVote to drive social awareness and voting. The Influencers amplified the campaign across their networks and they targeted social posts to generate excitement and participation across the United States.

Ultimately the voters elected Coffee Nut to be the winning flavor. The campaign resulted in 269 million public relations/social media/Influencer impressions, 216 influencer partner posts, 14.4 million social engagements, and more than 1 million votes. Influencer marketing is responsible for a majority of these numbers and the vote being so successful.

 

 

How Social Influences affect the Market.

Ask yourself this question, do you know anyone not on social media? OK, maybe grandma and grandpa aren’t on the internet taking selfies or posting pictures of their dogs every 5 minutes but, studies show 86% of Baby Boomers who use internet, have at least one social media account. Yes, your grandmother is cyber stalking you on Facebook.

In 2019, it is projected that roughly 2.77 Billion people will be using social media. That is a lot of potential customers in one place. Companies know these numbers and know that tapping into social media marketing is a make or break decision for their companies.

shopping-on-smartphone
Shopping on Smartphone

In a ,2016 study, done by UK online marketing experts, Custard; 18% of the 2000 people studied stated their social media accounts were an accurate representation of their real lives. That leaves a whopping 82% of people who are lying about their lives on social media.

In the above mentioned study by Custard, it is reported that for Millennials, necessity isn’t the deciding factor on a purchase. A Fear Of Missing Out (FOMO) is the buying motivator. A whopping 61% say they feel inadequate about their financial situation when comparing it to what they were exposed to on social media. This is why there are millions of searches every year on making extra money online.

What does this mean for marketers and consumers. For companies, social media marketing is a cheap and effective marketing campaign. Companies can get their brand in front of billions of people with just one post on their social media page for free.

For consumers, social media marketing is a great way to find out about the latest products on the market. This can also be a bad thing when overspending is a major issue for our younger generation, who say, social media is a contributing factor in their purchase decisions. This is another reason why Money Making Apps are extremely popular among Millennials.

 

 

Social Marketing Influencer Agencies

There are several new social marketing agencies out their today. They will use all the latest social media marketing tools to help grow and meet all your business goals. They have different price ranges depending on the level and depth you want them to go to market your brand.

social-media-marketing
Social Media Marketing

Most of these companies claim to know exactly what, where, and how to market your brand on all the latest social media networks. They will monitor your accounts and run reports for each marketing tactic to see what marketing strategies are working and what are not, make the changes and in a short time you should start seeing the profits rolling in.

If hiring a social media marketing agency is something your company is in search of, please do your research before jumping into a relationship with one. Believe it or not, depending on how large your brand is, you can do your own social media marketing that will have just as much influence on consumers as the larger marketing companies.

 

 

Final thoughts…

If you have searched the internet for social media marketing or influence marketing lately, you know their are tons of post telling you what it is, how to use it, and where to find agencies to help your brand achieve marketing success. When it comes to marketing in this day and age, social media is one of the biggest players, if not the biggest player in the marketing world.

Wealthy-affiliate
Wealthy Affiliate

Remember this important statement:

If you have a blog, you are an Influencer.

Anyone with any influence online is an Influencer aMrketer. The post you are writing on your website are influencing your readers to buy the products you are promoting with your affiliate links, this is social media marketing at its finest.

If you would like to learn more about how to become a Social Media Marketing Influencer, check out Wealthy Affiliate. Not only will you learn how to become an Authority in Your Niche; an Influencer but, you can also learn how to build your brand from the ground up with no experience.

 

TTFN and Let’s Start Making Money Today,

Dana

 

I would love to hear your thoughts on Influence Marketing or Social Media Marketing, leave your comments or questions below.

***If you would like more information on all the benefits of Wealthy Affiliate ***Click Here.***

 

 

 

 

 

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