'Influencing’ The Millennials & Gen-Z
Brands have to try a lot harder than traditional advertising gimmicks if they wish to capture the fleeting attention span of Millennials and GenZ.
Enter: The Influencer.
Courtesy their love for gizmos, everything ‘tech’ and easy & cheap access to the internet, the attention span of millennials and the GenZ youngsters are rapidly getting shorter and shorter. Brands today, therefore, face a challenge like never before, in holding on to these modern consumers especially if the advertising is not too genuine and sounds promotional.
This is where brands have now started roping in the services of ‘influencers’, people whose opinions matter and are taken cognizance of by millennials. It is, therefore imperative for brands to learn how to channel the potential of the right influencer in order to accurately attack it’s TG.
The Influencer: The shifting climate around brand loyalty for millennials and Gen Z is becoming increasingly hinged upon personalized and interactive experiences rather than static display ads and one-size-fits-all TV commercials. That’s where the ‘influencer’ comes in. Youngsters are more interested in listening to ‘real people’ tell their ‘real stories and share ‘their actual experiences’ through their social media feeds. Modern consumers today are sagely aware that ads are largely meant to ‘Sell’ even though they may come across as ‘informational’ and ‘educational’ and therefore they aren’t easily swayed by them.
Today’s young consumers are more drawn to brands that reflect their beliefs, values, and identity. So, when a brand says they are great, the natural response is "of course that brand tells me they are great" but when a peer or someone of stature claims that a brand is great, they are more apt to believe them.
Also read:-5 Ways To Make The Most Of Digital Marketing
Now, that data is layered into all the decisions in the influencer space, choosing the right ambassador requires a balance of audience composition and brand image. The targeting to speak to these micro-segments of consumers has become so in-depth that both the influencers and their content could be completely different even if you are targeting the same approximate age and gender. Instead, messaging and distribution require a more holistic approach and the use of filters that differentiate on the grounds of affinities, contextual and psychographic relevancy, household incomes, education, location, and language, etc.
The Role Of AI In Influencer Marketing: Artificial Intelligence (AI) has eased out the process of matching the most relevant influencers by using specific algorithms to align brands with different personalities and archetypes. It has the power to create databases and computations that grow the efficacy of influencer marketing, while also using actionable insights and predictive intelligence to help brands navigate the vast world of social media.
Incorporating everyday influencers into targeting and optimization logic can actually help brands with digital advertising strategies, brand positioning and increase prospect to conversion rates. AI does all of the legwork in finding the perfect influencer for a brand and is incredibly useful given the amount of options there are on social media today.
Measuring The Impact Of Influencer Marketing: As brands pour millions into influencer marketing, the logical next step would be to create measurement tools that can accurately capture the effectiveness of these influencers. Clients no longer think of branded content and brand ambassadors as a talent model or PR budget, instead it is a media buy that must map back the ROI. Measurement needs to account for more variables than ever before, because the new generation of consumers are so quick to decide on likes, dislikes, brand loyalty, and purchases. As this market matures, comparisons abound among Digital, TV and Paid Social Media.
There are several ways in which campaign success can be tracked. Some are purely halo metrics, like engagement numbers for impressions delivered, but it is crucial to match back performance of the given vertical, platform and demographic to its competitive set, to truly understand the benefits of a chosen medium.
The Future Of Influencer Marketing: Today, there are over 2.5 Billion daily active users across all social platforms. That is 3 times the World Cup audience, every day, all day. It is predicted that AI and machine learning will continue to play a pivotal role in how brands understand their audience on social media platforms. By structuring this data one can predict what will resonate.
The next few years will shape how brands leverage social influencers and how campaign success is analyzed in order to increase results. Because of this, more and more influencer campaigns will be delivered as a media buy on social media, elevating the space as a standard and necessary form of advertising, leveraged by brands and ad agencies alike.