WHAT IS MARKETING?
In the era or 1960s marketing was only an art of selling something to someone but today it has become the art of positioning of offerings better than the competitor. Marketing has become a broad spectrum in advertising ones business or product .To hype a product sell or brand equity, marketing should focus on:
- Cost factor
- Reaching target audience
- Measuring results
- Real time results
- Chance of going viral
Traditionally marketing involves print advertisements, billboards, flyers or pamphlets, TV, newspaper, radio. Though these mediums were used on large scale as a means of promoting the brand it merely reached the potential customer. There was a need of a new and effective medium to reach out to the potential customers and this is how DIGITAL MARKTING came into role.
DIGITAL MARKETING OVER TRADITIONAL MARKETING:
Marketing using digital technologies mainly on internet is termed as digital marketing. Use of mobile phones, websites, and emails has boost the speed to reach the target audience. Rather than spending a large amount on printing of pamphlets and its manual distribution minimal investment on advertisement can give high ROI.
To reach out to thousands of people digital marketing just have to spend some amount for advertisement over social media like Facebook, instagram etc. The capital required to print the posters, banners is eliminated that enhances the profit. Hence digital marketing over traditional marketing is cost efficient.
Marketing through hoardings and TV commercials might not reach to mass people. for instance if the ad of newly launched sports shoes is put over business television channel the number of viewers will be high but rate of influenced audience will be comparatively low. If the same ad is put on social media it might boost the sell.
Traditional marketing do not provide count for how many people actually saw the ad and do not provide an insight of people’s reaction over it. Digital marking hereby provide correct reach out count, how many people liked or disliked and their reviews.
People’s reviews provide real time results .When you launch a new campaign like a Facebook or twitter contest, you can immediately know whether people are following it through comments, likes, retweets.
The chance of people to pass on your flyer to someone else has a rare occurrence but with digital media the chance of people sharing picture or video is quite high.
Digital marketing over traditional marketing have number of merits. Digital marketing could effectively eliminate various drawbacks of traditional marketing like-
- Reduction in capital spend on printing banners and pamphlets.
- Investment on manual distribution of pamphlets
- Easy to reach the mass audience.
- Correct reach out count
- Quick reviews of viewers regarding brand
With eliminating the drawback of traditional marketing, digital marketing had some threats that were to be analyzed and resolved. Such as-
- Restriction over budget
- Fear of loss
- Less probability to reach the target audience
- Audience concern of affordability
NEW ERA OF BRAND MARKETING: NANO-INFLUNCER
Nano influencer marketing is a low cost option that produce high engagement rates for brands it works for. Brands can promote their business or products with the help of nano influencers and reach out to potential customer using a more targeted and effective medium.
NANO INFLUNCER MARKETING OVER DIGITAL MARKETING:
Digital marketing requires a nominal investment for ads or promotion making it a paid marketing. This nominal investment turns to become a high cost investment for big brands. Whereas nano influencing can be unpaid marketing.
Say a nano influencer having 1,000 followers over instagram shares a content about a brand. It adds instant credibility to the mentioned brand or product. The probability of ad viewed will be comparatively high but the concern of affordability will affect the percentage of influenced viewers. The major advantage of nano influencing is that it quickly connects to the middle class viewers as it overcomes the thought of affordability which is the main concern.
If ad of same brand by a daily soap influencer and a film actor is put over social media then the percentage of viewers getting influenced by daily soap influencer will be more due to affordability factor.
As the brand gets local influencer to notice and recognize their brand it will develop trust over the company or brand and hype to brand equity.
Drives Purchasing Decision
More is the percentage of influenced public higher is the purchasing rate. The concern of affordability goes down because of nano influencer and trust over the brand positively drives the purchase decision.
Another factor that boost the purchase is the instant reviews or comments by viewers. People’s reviews provide real time result, you can immediately know whether people are following it through comments, likes, retweets. Good reviews enforce the already influenced viewer to buy the product.
Viewer’s comments and reviews make us easy to know their interest making it easy to reach the targeted audience for sale of product of their interest. Consider the same example of sports shoes that can target to specific age group or specific group who view and comment over previous ads of same brand.
Ease of Reach out To Target Audience
Marketing through hoardings and TV commercials might not reach to mass people but not necessarily to the targeted audience. For instance if the ad of newly launched sports shoes is put over social media that targets males of specific age who are into sports can boost the sell.
Study found that around 85% of current generation consumer use social media to learn about new product .When a celebrity shares content about a brand his fan followers get easy introduction to new product. This keeps the viewers updated of the trending brands and products.
Your unpaid army of promoters become larger. These promoters tell their friends and colleagues about your brand. Words of mouth help to spread the contents in a positive way that will boost the sale ultimately allowing your audience to grow. This makes you a celebrity in your own niche.
Nano influencer marketing has a very low investment. Efforts are required only to approach the nano or the micro influencer and convince then for the brand promotion.
(Case in digital marketing) (Case in nano influencer marketing)
We can see the ROI in nano influencer marketing is very high as compared to digital marketing.
No Restriction on Budget:
The brand company, before paid marketing has to make a budget of how much to spend on products advertisement so that it should not face loss in terms of capital. What if the advertisement is done unpaid?
Nano influencer marketing makes promotion of products and brands with zero interest in turn having no restriction on budget.
No Fear of Loss
If company’s ROI is less than the investment it ultimately face loss in terms of capital. Profit is when ROI is more as compared to investment made. But what if the brand marketing is done with zero investment???
Nano influencer marketing kills the fear of loss! Nano influencer marketing hereby –
- Provide unpaid marketing
- Eliminate the fear of affordability
- Positively drives the purchase decision
- Provide quick and effective way to reach the target audience
- Help to build the trust over brand
- Gives real time results
- Has no restriction on budget
- Kills the fear of loss
- Provide high returns on investment
- Hype the brand equity