Instagram, Twitter or YouTube; no matter what the social channel, the power that digital influencers now hold has changed the face of marketing forever. But is influencer marketing really all that important and, if so, how can retailers use it to their advantage?
Influencer Marketing: The Stats
Word of mouth sales now generate more than twice the sales of paid advertising and 81% of consumers make a purchase based on friends’ social media posts. Coupled with this, conversions are 4-10 x higher from offers shared by trusted advocates.
How can retailers maximise on this?
Influencer marketing allows a constant dialogue that is invaluable to retailers. With 130 million people a month tapping on product tags in shopping posts, retailers can immediately find out what consumers are shopping for, the trends they want to invest in and the celebrity styles they’re lusting after. Utilising these insights gives retailers the power to quickly adapt their product offerings for commercial success. In addition to this, expanding their digital marketplace to include a variety of sales channels such as ASOS, Zalando, eBay and Amazon allows retailers to reach consumers wherever they choose to shop.
So, what’s the issue?
More selling platforms means more product data to manage. When an influencer shares a product, retailers need to ensure its visibility across all selling channels, meaning that product details and imagery need to be managed and product information optimised for search engines. Most importantly, this needs to happen quickly to maximise sales opportunities.
How can OMIO PIM help?
Our Product Information Management system helps retailers to simultaneously optimise products across multiple channels. It helps retailers to reduce lead times through faster creation of new routes to market, meaning that they are able to focus on becoming the frontrunners for new and evolving shopping channels.