These days, the Swedish watch company Daniel Wellington is doing fairly well for itself. Earlier this year, it was named the fastest growing private company in Europe, with a 3-year revenue growth amounting to 4,695%. Impressively, this seemed to happen almost overnight – the company was founded in 2011. What's their secret? According to owner Filip Tysander, it's all about influencer marketing.
Completely bypassing traditional marketing strategies, Tysander instead focused on a digital strategy centered around thousands of lesser-known micro-influencers. In exchange for a Daniel Wellington watch, these influencers posted photos of themselves wearing it – along with a unique discount code for their followers. The strategy proved to be a complete …show more content…
However, that doesn't mean you should jump in head first and try to take advantage of it. Though influencer marketing can be a game changer in most industries, some businesses will benefit from it more than others. If you're not sure whether this marketing strategy is a smooth fit for your business specifically, here are 4 ways to find out.
1. Building Trust
Do your products or services require the customers to trust them? If the answer is yes, then influencer marketing becomes almost necessary. For example, consider a random supplement. If nobody's vouching for its safety, you'd never consider buying it, right? Even when it comes to products such as clothes, most consumers want to hear a second opinion before opting for a purchase.
By engaging with the right influencers, you can effectively nip this problem in the bud. In trust-based industries such as nutrition, automotive and pharmaceuticals, influencers wield a surprising amount of power. If a consumer has some concerns, they will always turn to the people they can believe – in this case, their favorite influencers.
2. The Cool …show more content…
Simple: he took advantage of influencer marketing in order to make his Daniel Wellington watches a household name. If your product is recognized as a luxury item on the market, people will be willing to pay the price for it. As we've previously established, utilizing social media influencers is one of the easiest ways to make your product a part of a successful brand.
3. The Importance of Ads
Where B2B (business-to-business) transactions are concerned, marketing often takes second place to interpersonal relationships. It's still important, it's just not a priority. However, B2C (business-to-consumer) transactions are another story. If you're selling products or services to consumers, having a good marketing strategy is of paramount importance. The only real question is whether you should opt for traditional or modern tactics.
Generally speaking, any ad is designed to tick the following boxes: frequency, exposure and resonance. Influencer marketing does fine with the first two factors, and it absolutely shines when it comes to resonance. If you want to focus on making sure your product will resonate with the target market, go ahead and start hiring some influencers.
4. Competitive
Completely bypassing traditional marketing strategies, Tysander instead focused on a digital strategy centered around thousands of lesser-known micro-influencers. In exchange for a Daniel Wellington watch, these influencers posted photos of themselves wearing it – along with a unique discount code for their followers. The strategy proved to be a complete …show more content…
However, that doesn't mean you should jump in head first and try to take advantage of it. Though influencer marketing can be a game changer in most industries, some businesses will benefit from it more than others. If you're not sure whether this marketing strategy is a smooth fit for your business specifically, here are 4 ways to find out.
1. Building Trust
Do your products or services require the customers to trust them? If the answer is yes, then influencer marketing becomes almost necessary. For example, consider a random supplement. If nobody's vouching for its safety, you'd never consider buying it, right? Even when it comes to products such as clothes, most consumers want to hear a second opinion before opting for a purchase.
By engaging with the right influencers, you can effectively nip this problem in the bud. In trust-based industries such as nutrition, automotive and pharmaceuticals, influencers wield a surprising amount of power. If a consumer has some concerns, they will always turn to the people they can believe – in this case, their favorite influencers.
2. The Cool …show more content…
Simple: he took advantage of influencer marketing in order to make his Daniel Wellington watches a household name. If your product is recognized as a luxury item on the market, people will be willing to pay the price for it. As we've previously established, utilizing social media influencers is one of the easiest ways to make your product a part of a successful brand.
3. The Importance of Ads
Where B2B (business-to-business) transactions are concerned, marketing often takes second place to interpersonal relationships. It's still important, it's just not a priority. However, B2C (business-to-consumer) transactions are another story. If you're selling products or services to consumers, having a good marketing strategy is of paramount importance. The only real question is whether you should opt for traditional or modern tactics.
Generally speaking, any ad is designed to tick the following boxes: frequency, exposure and resonance. Influencer marketing does fine with the first two factors, and it absolutely shines when it comes to resonance. If you want to focus on making sure your product will resonate with the target market, go ahead and start hiring some influencers.
4. Competitive