Advertising is an irreplaceable part of the marketing process. Even though brands are investing great amounts in marketing budgets, often they fail to combat the top 3 costly marketing initiatives.
However, competition among many industries is growing. Consequently, a new trend has come to view. Brand communication proves to more ineffective than ever before.
There is a couple of marketing initiatives regarding promotion, which causes a great waste of ad spend.
In fact, according to eMarketer, nearly one-fourth of marketers’ budgets are wasted.
We have summarized the most common costly marketing initiatives that can be solved with influencer marketing in this blog post. Read until the end, to discover the best solution to your promotion concerns.
Regardless of the media type – whether traditional, digital, mobile or social media, people are suspicious of the trustworthiness and authenticity of ads displayed.
Only 4% believe in transparency and accuracy of advertising.
Consumers often consider ads as a desperate attempt to convince them to submit a purchase. While advertising used to be an effective method in the past, today’s conscious and savvier consumer is simply skeptical of strong claims and exaggerated titles.
Buyers today are empowered by the Internet, therefore insist on making decisions on their own. In other words, it is much more difficult for a marketer to influence the mind of the consumer.
A 2018 study by Statista also found that more than one-quarter of U.S. internet users enable ad blockers, and that number is expected to reach 27% by 2020.
For businesses, ad blockers lead to budget waste and losses in resources.
There are several reasons why the popularity and usage of such technology are growing.
Firstly, consumers feel their private space invaded, when being displayed an ad related to previous google search. A great majority of users find digital ads intrusive and annoying.
Sometimes, online users even state that ads are highly irrelevant. In short, it seems that people are pushed off by such type of advertising.
Moreover, digital ads can slow down the browser, leading to poor user experience. Besides, a lot of internet users are active through their mobile. In such cases, heavy advertisements can disrupt their online activity even more.
Aiming to gain control over their browsing experience back, consumers are turning to ad blockers as their last resort.
A trend, that has been here for a while, places focus on the reduced organic reach by various platforms. Even with a bunch of frequent posting of captivating content, marketers can hardly reach the optimal number of people within your audience. Unless they pay for it.
The amount of active people on social media is growing, likewise the number of accounts created each day worldwide. This might be a great opportunity for advertisers, but nothing comes for free. The CPM is increasing, varying from network to network.
If brands want to stay relevant, they have to pay. When the demand for digital ads grows, it cannot be a surprise to anyone that the price increases as well.
Marketers must spend their budgets on a method that is worth it. People might not trust brands anymore, but they respect other people’s opinions.
63% of consumers trust influencers’ messages more than brand messages.
Some good news – you can easily overcome all of the top 3 advertising challenges with one simple strategy – Influencer Marketing.
Influencers’ job is to be authentic and appealing to the audience. They are professionals in terms of design and communication, and can easily promote a product, avoiding it to look like an ad.
Their followers are already obsessed with them, because of the valuable content they produce. Consequently, people try to look up to them and might be deeply affected by an influencer recommendation.
That’s and the reason why Influencer Marketing is a successful and cost-efficient advertising approach.
Learn how and why in our new E-book below. It is all for free!