In the 21st century, it becomes very hard task for the firms generate sales and innovate product in the business. Competition is very tough in the current time period and due to this reasons firm in different ways to promote their products. Social media emerged as a most popular tool to do the marketing of the product. However, there are many companies who spend large amounts of money on social media channels but did not get desired results. On other hand, there are firms like Volt, Hubble contacts which achieve huge success on social media marketing (Kim, Lim, and Brymer, 2015). Thus, it is very important to identify whether social media prove effective for the firm in terms of marketing of the products. This is also aimed of the present research study. On the other hand, objective is to identify the impact of influence marketing that is done on the social media on the business firms. Moreover, the objective is also to find out the extent to which social media prove an effective tool for developing brand awareness relative to traditional media channels. The third objective is to identify the significance of the social media for the firms to understand their customer base in a proper manner. In the present research study focus is on identifying the reasons behind the success or failure of the social media in assisting firms to do effective marketing. Considering this multiple objectives are prepared in the research study. In the research study there are multiple sections like introduction, literature review and research methodology. Considering objectives deeply literatures will be reviewed in the research study. Moreover, considering the objective, whether it is to form a theory or to prove any assumption varied things in the research methodology section will be determined. In this way, present research study will be carried out.
Impact of influencer marketing that is done on social media on making marketing campaign effective
According to (Nawaz, and et.al., 2017) influencer marketing becomes very effective for the business firms. Influencer marketing can be basically defined as the relationship that exists between brand and influence. Influences are basically those individuals that work in the specific industry or have deep knowledge of the specific product line. These influences have a good, credible image among people and due to this reason people believe in them and their advice to great extend. In case firms advertise product without influences it takes time to develop brand awareness and interest among people. On the other hand, if influences are doing marketing for the firm, then in that case brand awareness and interest originate among people at a fast pace. Thus, it can be said that influence marketing prove very effective for the firms.
On the other hand, (Hu, and et.al., 2020) state that influence marketing always did not prove very effective for the firms. This is because there are many companies that take the assistance of the celebrities to do influencer marketing. People often believe that celebrity that is actor in real life just endorse the product and did not know much about the product it advertise. Hence, in such kind of situation individuals did not trust advertisement and influence and marketing efforts prove ineffective. Thus, influencer marketing may failed to generate better results for the product sometimes.
However (Johnen,. and Schnittka, 2019) state that celebrities also proves very effective in the influencer marketing. This is because there are large numbers of people that remain curious about the life of the celebrities. Considering, their lifestyle individuals prefer to make use of the products in their personal life. Hence, if any product is endorsed by any celebrity, then it certainly elevates demand of the product in the market. This is the reason due to which many companies like to do celebrity endorsement in the influencer marketing.
As per views of (Kim, and Song, 2018) influencers independently create their own content and integrate company advertisement specifications on it. It means that influencers according to their knowledge form a content considering USP of the firm product. This makes the advertisement authentic and due to this reason, individuals believe in whatever influences state in the social media advertisement. Companies like Hubble contacts are making use of influence on large scale to do marketing of their products in effective way.
(Välimäki, and et.al., 2016) state that 80% of marketers find influencer marketing very effective. Collaboration with the influences assists companies to develop a content that seems different, attractive and very informative to the people. Influences are able to develop content in such a way that resonates with the target groups in a better way. Thus, this is the reason due to which memory retention value of the content that is developed by the influence is very high in the market.
In the current research topic is related to the social media marketing. I am a specially enthusiast about ways in which social media generate excellent results for the many business firms. Thus, I choose a topic related to social media marketing in order to identify why social media is so effective in generating results for the business firm. In this regard, I planned to focus on influencer marketing because many firms through this sort of marketing get huge success on social media. Further, I focus on ways in which social media assist firms to understand their customers. In this regard, specific attention I paid on the processor approaches that firms follow to identify the best persona or target group for them. In the LR due to this reason I talked about the AB test approach and approach under which multiple variants of landing and subscribe page are prepared. These approaches to assist firms to understand their customers in proper manner. Thus, it can be said that I mainly focus on the specific approach of social media marketing (Influencer marketing) and the ways in which it assist firms to understand their customers in better way in the business. Considering these objectives literatures are identified and reviewed in detail so that broad understanding can be developed on the research subject. Further, the research methodology section is also prepared in the report. In the research methodology section inductive research approach and Interpretivism philosophy is selected. This is because in the research study attention is paid on the development of theory, not on proving a specific theory. Thus, the accordingly thematic analysis approach is selected in the research study to analyze data. By using thematic analysis approach sentiments of the sample units will be analyzed in proper manner. For each category number of respondents will be found out and it will be identified whether respondents give mixed response or they give a response in the particular direction. By doing so pattern will be identified and sentiments of the sample units will be measured in the proper manner. Hence, it can be said that appropriate method is selected for the research purpose. Two months time I will take to conduct research. I think that it will be better to take more time as much as possible to conduct research. This is because if I will rush to conduct research in the short time period, then I will not be able to conduct a literature review in a proper manner. Means that in order to conduct research in the short time period I will review very few literatures and this may affect research work quality. Apart from this, if I will rush to conduct primary research in the short duration, then in that case will not be able to pick sample units from population in a proper manner. This may also affect research results. Thus, it can be said that appropriate actions are taken to ensure that accurate results will be achieved and every attempt is made to conduct research in a proper manner. In order to ensure that no ethics are breached true identity will be revealed and aim as well as objectives will also be communicated in proper manner to the sample units during research.
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What is Influencer Marketing: An in Depth Look at Marketing’s Next Big Thing., 2020. [Online]. Available through:< https://influencermarketinghub.com/what-is-influencer-marketing/>.