Study: ‘Influencer marketing’ on the rise

Brand managers can increase their success by finding and building relationships with passionate consumers, employees and other social media rock stars.

A recent study in the Journal of Consumer Research found people on social media often form opinions or make judgments about products and services based on the opinions of those they follow.

A recent e-book by Tapfluence and Intuitive supports those findings. In their study, researchers found that 92 percent of consumers turn to people they know for referrals above any other source. Considering referrals are found online 81 percent of the time, social media and word-of-mouth combine to form new and powerful marketing strategies.

The study identifies two types of strategies that marketers can use in 2015 to boost their brands online: “influencer marketing,” in which brand managers partner with people who have large followings on social media platforms, and “advocate marketing,” which harnesses the ideas and power of a company’s consumers, employees and partners.

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