Influencer marketing is one of the fastest-growing online marketing tactics; firms are spending over $100 billion...
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Influencer marketing is one of the fastest-growing online marketing tactics; firms are spending over $100 billion on it annually. Influencer marketing capitalizes on the pre-existing relationships its target consumers have with the influencers they follow on social media, with influencers charging firms around $100 per 1000 followers. Consumers often perceive influencer marketing to be less intrusive than brand-managed communications and more like a word-of-mouth recommendation. Not surprisingly, consumers are less likely to ignore influencer marketing and are more likely to trust the recommendations and product endorsements they see on their influencer's social media. Like all modern marketing, the practice of influencer marketing is evolving in an effort to increase its effectiveness. Influencers can be categorized by the number of followers or fans that they bring to the table. Mega-influencers like celebrities can have millions of followers and can charge firms up to $1 million per social media post! Mid-level influencers have between 50,000 and 500,000 social medial followers, and micro- influencers typically have between 10,000 and 50,000 followers. Influencers in the 1,000 to 5,000 follower range can be classified as nano-influencers. Consumers often feel more connected to micro- and nano- influencers because the influencers are often more relatable and authentic, which results in higher levels of trust. For each of the three influencer types below, indicate whether the level of reach, expense, and authenticity that the influencer provides is low, medium, or high, and then click Submit. Mega-influencers Reach Expense Authencity Mid-level influencers Reach Expense Authencity Micro-level influencers Reach Expense Authencity Low 000 OOO 0 0 0 000 Medium 000 000 High 000 0 00 O O O Influencer marketing is one of the fastest-growing online marketing tactics; firms are spending over $100 billion on it annually. Influencer marketing capitalizes on the pre-existing relationships its target consumers have with the influencers they follow on social media, with influencers charging firms around $100 per 1000 followers. Consumers often perceive influencer marketing to be less intrusive than brand-managed communications and more like a word-of-mouth recommendation. Not surprisingly, consumers are less likely to ignore influencer marketing and are more likely to trust the recommendations and product endorsements they see on their influencer's social media. Like all modern marketing, the practice of influencer marketing is evolving in an effort to increase its effectiveness. Influencers can be categorized by the number of followers or fans that they bring to the table. Mega-influencers like celebrities can have millions of followers and can charge firms up to $1 million per social media post! Mid-level influencers have between 50,000 and 500,000 social medial followers, and micro- influencers typically have between 10,000 and 50,000 followers. Influencers in the 1,000 to 5,000 follower range can be classified as nano-influencers. Consumers often feel more connected to micro- and nano- influencers because the influencers are often more relatable and authentic, which results in higher levels of trust. For each of the three influencer types below, indicate whether the level of reach, expense, and authenticity that the influencer provides is low, medium, or high, and then click Submit. Mega-influencers Reach Expense Authencity Mid-level influencers Reach Expense Authencity Micro-level influencers Reach Expense Authencity Low 000 OOO 0 0 0 000 Medium 000 000 High 000 0 00 O O O
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Managing Business Ethics Making Ethical Decisions
ISBN: 9781506388595
1st Edition
Authors: Alfred A. Marcus, Timothy J. Hargrave
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