One of the first things clients ask us when they launch a campaign through The Cirqle platform is how can we help them identify and recruit the best and most affluent influencers for their brand. Of course, this may seem easy from the outset, but the perils of the market have proven otherwise all too often. At best, brands can now only hope to steer opinions that consumers have about them - and to do so, they turn to an ever expanding marketing stack of technology services and media companies. At a time when many are blocking traditional banner ads or skipping TV commercials (Netflix), influencers become the pinnacle of leading conversations with the world.
Welcome to the Influence Economy
At Cirqle, we're lucky enough to work with some of the world's boldest and biggest brands. Over the course of time, we managed to distill a number of key learnings in successfully setting up influencer marketing strategies of which you can download Part I below:
The Circles of Influence
Online web-savvy consumers now require greater engagement and information before making a purchase. Meaningful content and relevant information to help consumers make purchase decisions is key. Where the opinions from people they trust count. Consumers are having conversations with their peers online before they make a purchase and to be effective, brands need to be part of that dialogue.
Influencer marketing helps brands and agencies form relationships with key influencers online and partner with them to create relevant, quality content that is trusted by their consumers.
The divide between digital advertising and consumer decision-making continues to grow. Influencer marketing has emerged as a go-to marketing discipline to help marketeres truly connect with consumers.
The Influence Economy
We're extremely proud to release Part I of 'Welcome to the Influence Economy'. The guide contains the necessary steps beauty, lifestyle, fashion and travel brands need to take to become successful in working with influencers.
Almost all big companies in the retail ecosystem know something needs to change - but very few actually pull off change. First step is to realize that you need very different competencies for this new world of retail. Of course, distribution, making a killer product and awesome marketing are still important, but distribution needs to be more agile, production needs to be more attuned and particularly marketing needs a completely different set of paradigms and skills. This means learning to think in terms of customer journeys and experience instead of funnels and (only) conversion rates.
We live in an exciting time for the world of shopping. Because in the next 10 years, retail will change more than it did in the past 100. Traditional retail players will need to start thinking like startups, listen to their customers and take risks. As for new entrants, there has rarely been a better moment to enter the business - as long as you’re building something for the new rules of retail, not the old ones. Read more to take a deep-dive in the drivers behind fashion retail and the role of curators.