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Category: Peer-to-peer marketing

Influencer marketingPeer-to-peer marketing

Next Phase of Influencer Marketing: Peer-to-Peer Influence

It has been 12 years since “Nothing Sells Like Celebrity” –The New York Times published this article in 2008. After 12 years, celebrity endorsements don’t have the same effect on the marketplace. Although it is undeniable that celebrities are trendsetting, they can’t persuade people that they like the products that they endorse. That’s why celebrities’ ads are being replaced by content creators, or as they say, influencers. At this point, the new slogan pop up – Influencers are new celebrities. But there is a little catch here as well. In some cases, influencers can’t improve personal connections with brands like a friend or family member. In such circumstances, forward-thinking brands use Peer-To-Peer Influencer Marketing strategy.
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Regardless of which strategy is used, Influencer Marketing is about relationships, not just buying media. That is why marketers try unique strategies that don’t feel like sales tactics. Peer-to-Peer influence is one of the great examples of these strategies. P2P is a component of Word of Mouth. So, firstly let’s look at what is a word of mouth marketing or WOM marketing.

 

Peer-to-Peer Marketing Is A Big Component Of WOM

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The importance of word of mouth marketing in the post-advertising era is irreplaceable.  It is a term for what happens when satisfied customers promote a brand. So? It means you should roll up your sleeves and try to gain loyal customers who will recommend you to their friends.  Higher engaged customers buy more often and recommend their friends more often.  And peer-to-peer is the new age of word of mouth marketing.

 

Peer-to-Peer As An Example Of Authenticity

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Now you know that peer-to-peer marketing is a technique that involves customers engaging other customers through recommendations. People who aren’t paid wouldn’t recommend products or services for a company if they didn’t believe in it. That is why P2P doesn’t feel like a sales tactic. The trick is getting customers to share their voices with their networks. P2P method provides authenticity that literally can’t be bought with money.

 

P2P is an organic way of spreading information. It helps boost the company’s emotional marketing efforts and creates more robust relationships with the audience.

 

 

What Are The Benefits Of Peer-to-Peer Influencer Marketing

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Nowadays, people care more about what others say about a brand, they trust people like them. According to Nielsen, 92% of people around the world said they trust recommendations from friends and family (earned media) above all other forms of advertising. 

 

Beyond friends and family, 88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts.

 

These researches are obvious proof of how p2p marketing strategies are vital and authentic  for companies.No one has a script to recommend a product to a friend. It’s just a normal conversation. Influencers who actually use the product in their daily life can integrate to their content bring credibility to both influencers and brands

 

Brands can gain more by spending less with P2P influencer marketing. Converting customers into an influencer is less expensive than a TV advertisement or celebrity endorsement.

 

Targeting brand loyalists leads to targeting the audience and nothing works better than Peer-To-Peer Influence.

 

 

4 Steps Of Building Strong Peer-to-Peer Influencer Marketing

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To get started with powerful P2P influencer marketing, the first thing needed to do is identify the target audience, I mean understanding who the potential customers are. When the target audience is determined, it’s time to find the right people to deliver the message.

 

Choosing the right influencers for being a partner is an important requirement for P2P marketing. If companies find the right influencer for their business, they will bring so much success to it. But the challenge here is to pick an effective influencer who makes a good fit for your brand. One simple way to find influencers is to use the Keepface tools. Keepface offers AI-powered influencer tools that will help brands to find the right influencers, and pursue their campaigns in the best way. This tool demonstrates influencers, their social media profiles, performance data, audience analysis, etc. 

 

Creating an online space to engage and interact for your customers will help with customer retention, lead generation as well as effective sales. With it, companies will manage to create active discussions, increase brand awareness, and create a positive image for their brands. It gives your customers a platform to share valuable insights on everything right from product development to product marketing.

 

In the next phase, you need to keep your community members engaged and active. Peers who create content in your community can have an important role in your business success. The more they are involved in, the more active discussions you will get. For that companies can introduce reward programs. It keeps the motivation and excitement alive.

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Lamiya Babazade October 4, 2020