(6.3) Brands, social media and influencer marketing Flashcards
What are IMI’s?
Improvised marketing interventions = social media actions that are composed and executed in real-time, proximal to aan external event.
What are 3 important elements of an IMI?
1) Quick wit = situational humor that relies on timeliness and unanticipation
2) Timeliness = extent to which a firm responds to an event quickly
3) Unanticipation = the unexpected way of the response to the external event.
What is virality?
Marketing communication which makes sociale media users pass it to others at no cost for the advertiser.
What is the hypothese about IMI’s and virality?
That IMIs impact the virality of marketing messages directly
> Quick wit increases virality: humor and timeliness attract attention, this initiates further conversation
> Quick wit increases stock price: investors believe that brand attituted will increase automatically, it signals confidence about brand reputation and empowered employees
What are the benefits of the IMI strategy?
- How and when saying things becomes crucial
- High humor and unanticipation can generate 5.1 million on average in market captialization
- High humor and timeliness can generate 3.1 million on average in market captialization
What are influencers?
Individuals, groups or virtual avatars who have a built a network of folowers on social media - regarded as digital opinion leaders > social influence on network
What is influencer marketing?
Strategy where a firm selects and incentivizes influencers to engage their followers on social media in an attemt to leverage these infuencers’ unique resources to promote the firm’s offerings»_space; ultimate goal: enhancing firm performance
What is the relevance in numbers of influencers?
- Market size of influencers globally increases
- Percentage of marketing budget that goes to influencers increases to
Why do firms use influencer marketing?
- Technological changes
- Cultural: shifts in consumer behavior - skeptism about direct marketing
- Economic: firms are most cost conscious regarding their marketing expenditures
- Bandwagon: firms want to be part of the trend
Explain the framework of how influener marketing increases marketing communication effectiveness
- Targeting benefits: homogenity and dynamism
- Positioning benefits: acceptance, distinctiveness and reflectivity
- Creating benefits: originallity and relevance
- Trust benefits: authenticity and relations
- Content control threat (incongruence?)
- Customer retention threat - inability to retain customers
Explain the engagement with sponsored content
Engagement = number of measurable interactions (decrease in indegree)
Reach = number of followers exposed to content (increase in indegree)
Engagement probability = the followers that decide to engage with the content (indegree u-shape)
> Large reach has low engagement likelihood
Large engagement likelihood but low reach
What does content customization mean?
How independently influencers create content for the campaign
What does brand familiarity mean?
How aware consumers are of the brand that sponsors the campaign
What is the sweet spot of engagement? The overall relation?
Influencers with intermediate indegree!
What are insights to help advertisers improve their influencer marketing strategies?
- Superstauration effects in engafement when indegree becomes too large
- engagement maximizeing follower counts: 1.43m for posts, 1.25m for stories
- cost optimal follower counts: 100k-500k
- allowance of influencers to promote independently + less know brands have weaker inverted U shape > less pressure
Explain disclosure in influence marketing
= transparancy about paid content to protect the customer
> clear language
> no clear rules and guidelines
> standardized “branded content tool” (paid partnership with)
BUT There is a loss of trust of consumers in paid influencer content»_space; expectations get violated when consumers recognize posts as advertising
Explain the double-edged sword of influencer marketing
Publicy makers: increase transparancy VS thrustworthiness as major currency for influencers and brands
What are the 2 prominent options for disclosure advertising
- # advertising in caption of the post
- “paid partnership” in header of the post
Explain the results of the research to disclosure in influencer marketing
- Positive indirect effect of
disclosure on influencer
trustworthiness via
advertising transparency
and a transparency bonus - Negative indirect effect of
disclosure on influencer
trustworthiness via
perception of the post as
advertising
–> Effects are stronger for
the branded content tool
SEE SCHEME
What are the implications of the disclosure research
Policy: clearer standards, BCT is superior option, number of followers and previous product endorsements might increase the expectation to see advertising on a profile and in turn facilitate the recognition of advertising posts
Influencers and brands: brands should take into account the whole portfolio of influencers, influencers should resist tempation to grow their follower base and cooperate with firms at all costs
Influencers should disclose posts as advertising > more thrustworthiness, increase in perceived advertising transparancy
