Influencer marketing hit $16.4B in 2022 and outperforms brand posts. Micro-influencers and customer advocates work best. Display ads on Google, Facebook, and LinkedIn drive leads cheaply. Video ads on YouTube and Facebook convert better than other formats, and retargeting tools like MNTN follow visitors to Hulu and Peacock.
Okay, as we continue on, there's some other ideas here, right? So influencer marketing, guys, this whole industry is just outta control right now. Um, represents $16.4 billion in 2022. Instagram was preferred social media channel for influencers. Video ads is the top performing format on Facebook. Micro influencers are making a bigger impact. Influencer-generated content performs better than branded. Posts, right? So this comes back to kind of the credibility question. So as you think about influencer marketing, how does influencers apply to your business? Do you have influencers? The answer is you probably do, right? Now sometimes those influencers are maybe just your customers, and, and, you know, there's things you could use as, as influencers. A lot of times they're people of authority that have a following in the niche or industry you care about, right? Um, guess what? These guys have a lot of power. The reason why it's growing so fast is because it generates revenue. If you remember, it was the second most trusted source, besides kind of the referral and word of mouth. Right, so it was like word of mouth, and then basically somebody who, who's an influencer saying, hey, you should do this thing, right? And there's a huge whole creator economy, and you could go on and on. In the product world, you know, where you're selling physical products, influencers have a lot more impact than maybe you think in the service world, although If you've ever even seen on LinkedIn or other in the service and somebody who has a large following and they say something or there's something hunters, you could see a post go viral and guess what? The world changes, right? And so there's a lot of power in influencer marketing. Display advertising is another way that you can get out there and promote your service. So this, we're talking about the Google Display Network, we're talking about Facebook's Audience Network. LinkedIn has an Audience Network. Apple Advertising, Ad Knowledge, Lead Bull. What we're talking about are these ads that are often on news and media sites, or you see them on the side or on the top. You guys all have seen these ads, right? If you can get this right and get your targeting down, this can actually be really effective. At Lendio, what we were able to do is we actually identified specific sites that were finance-related sites and we basically just narrowed all of our advertising down onto just these sites. And suddenly what we saw was just this huge uptick in lead volume at a really low cost, right? And so you can use these display networks if you can get the targeting and the messaging right to really expound and compound what you're doing. Having said that, you could also lose a lot of money if you don't do that right, right? Because you're just going out and spending on clicks of people that really aren't in your market or in your audience. Videos becoming more and more prevalent, right? So online video ads, um, in YouTube, for example, there's a bunch of ways you can do that. You can do skippable video ads, non-skippable video ads, bumper ads, overlay ads. Display ads, sponsor cards. There's a bunch of ways you can kind of sponsor videos, but video is becoming more and more a medium for getting the message out, right? Facebook, we talked about Facebook. The best ad platform is video. If you don't have a video, it's hard to promote a video, right? And so, you know, that, that might be a first step in that is, is getting a video and using that video. But it's very effective. What's really interesting is the evolution of marketing. Has anybody heard of Mountain before? MNTN Mountain. So they're, they're taking this a really interesting approach where they can actually now show your YouTube video, your Facebook video, on places like Hulu or Peacock. Or, you know, these streaming services, they can actually retarget your website visitors and show you on live TV their ad, right? So now suddenly the TV has become a targeted medium for them to do. Great example here, Pattern, which is one of our clients, they did an event called an e-commerce acceleration event. Guess what? I visit Pattern and part of this, I suddenly started seeing their e-commerce acceleration event while I'm watching Peacock streaming service, right? Now you might say, well, why would they advertise on Peacock? Guess what? They weren't. They were advertising to me, right? Because it was a retargeting ad. And they said, hey, Jesse, I know you visited the site, so I'm gonna go and show you this ad on your television. And so it's really changed the game about how things, how you can use TV. So you can use your video ads in a lot of formats, right? You can use 'em on YouTube, you can use 'em on social media, and you can use 'em on television, right? So you can, if you have a really good ad, you can promote it in a lot of different ways. Okay, take a few more minutes. We're gonna take 2 minutes on this exercise. They're just thinking about display ads and influencers and video. How can you better leverage those to promote your services, right? So who are some influencers in your industry? What videos could you use to promote your services? How can video improve your overall marketing strategy? What networks or categories are relevant to your business if you're on the display side? Let's take 2 minutes and just think through that.
