KAMIST

[2020: Content Marketing Era]

Hello Optimist People!

We are back again with KaMIST! Every week on Thursday we’re going to give you an insight about marketing.

[2020: Content Marketing Era]

Have you seen that endorsement or paid ads brand promotion by social media influencers massively in your feeds?

Well, it’s not a surprising fact, noticing that Influencer collaborations had 57% more reach and impact in 2020 compared to 2019, which is a significant increase in engagement between businesses and influencers according to Klear’s State of Influencer Marketing 2021.

However, they also reveal that influencers are moving away from full posts to quick content on TikTok and Instagram Stories, reflecting alterations in consumer behavior on social media platforms. While the number of #ad posts on Instagram decreased, the value of influencers rose this year due to jumps in reach and effect that suggest creator partnerships are still a profitable part of the marketing mix, according to Klear. The significance of influencers’ collaboration towards brands is indicated through ad budgets, as 73% of marketers in the U.S., U.K., and Germany said they put more allocation into influencer marketing in the past year.

The Klear report also conveyed that Gen Z is a major power of growth for influencer marketing. Their demographic grows in purchasing power and they have kicked off the popularity and advancement of influencer marketing as the cohort’s share of the industry rose from 31% in 2019 to 34% in 2020.

Meanwhile, TikTok’s development as an influencer platform comes as the viral video app creates its advertiser abilities, which surprisingly can attract consumers from different parts of the world at different age ranges.

In September, TikTok have introduced a program to showcase upheld providers for ads services on its app and later declared openly a partnership with e-commerce platforms such as Shopee and Lazada to help brands and retailers advertise their products through shop-worthy videos.

Wanna get more insight on marketing? Tune in every Thursday for more KaMIST!

Source: MarketingDive

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The idea of delivering the most value for the consumer has evolved over the years. As we know, the best marketing strategy is cetera desunt for adaptive future-leader mindset that uncertainly evolved over decades. Companies began to use various promises in effort to persuade and attract customers. The fiercely increasing conditions of competition added the popularity of the concept of “brand” and “advertisement” by adopting the concept of neo-marketing and elaborate them with psychological terms. Albeit, all emotion influences consumers personal relationships, business choices, and buying decisions. The emotion itself has situational and reactive qualities, as well as satisfaction and expectations formed over lifetimes of experiences and interactions.

When a boy goes to an ice cream parlor or restaurant, he will feel befuddled. Choosing what he is going to get, that’s the thing that he despises. Would chocolate chip or strawberry ice cream please him better? Cheeseburger or fried chicken? He feared that what he selected will not give him as much pleasure as the other option would give. What he doesn’t choose could provide a higher sense of pleasure than the one he chose. One interesting finding utilized by neuromarketing is that people really don’t want to lose out. People are just as worried about what they might lose as to what they might gain.
In the meantime, one of the biggest challenges that marketers deal with is customers’ expectations in the pre-purchase phenomenon where the consumers haven’t fixed their buying decision yet. To tackle the challenge, many companies are competing to build relationships with their customers, with the expectations that they will be able to provide the best customer experience for specific individuals. Therefore, the company must be customer-centric to carry out a successful marketing strategy in order to be noticed by consumers and to forge a brand identity.

According to McKinsey (2019), by making a fundamental change of mindset of focusing on the customers, companies gained significant enhancement on several aspects. Along with operational and IT improvements, companies generate 20 to 30 percent uplift in customer satisfaction, a 10 to 20 percent improvement in employee satisfaction, and economic gains ranging from 20 to 50 percent of the cost base addressed in the various journeys.

To overcome these challenges, companies have to understand consumers’ behavior and expectations. Hence, companies should put a bigger concern towards consumers’ buying-cycle from awareness to its advocacy. By implementing the concept of Neuromarketing, stereotypes of the communication matters of the marketing basis will be integrated with taste of individual market itself. The more personalized the promotion, the higher the probability that the advertisement will work. It could be done by using big data to allow the company for this huge aggregation of all consumers personal information that they’ve ever revealed to build a precise representation of who they are, now, more than ever before. Data and insight are not delivered to consumers as a whole but individually by delivering the most value to the customers with a very specific scope based on how they think.

In order to win in today’s marketplace, companies must be customer-centered, to the point that ideally, each individual customer’s values are taken into an account to derive the value that they are truly seeking. In essence, by generating consumer reactions, and treating them not as reactionary receptacles of marketing strategies, but as each their own person with differing individual values. Therefore, reinforcing belief is a very important matter for marketers that influences consumers experience. They must deliver superior value to their target customers traditionally and digitally with knowledge of neuroscience marketing strategies combined. Neuromarketing will surely strengthen customer’s contentment of a product itself.