Analysts say the likelihood of the economy falling into recession is "disturbingly high. When the economy slows, companies tend to cut marketing budgets. Some brands are already doing so, according to Insider Intelligence. While it's always wise to audit marketing costs, it's important to explore the long-term return value of marketing approaches before cutting back. For example, having an impactful marketing strategy is still a smart investment for your brand. izea summarizes the reasons for this as follows.
NETFLIX MARKETING HAS A SUBSTANTIAL RETURN ON INVESTMENT (ROI)
According to the data feedback from some clients, the ROI of Netflix marketing even reached 650%. With this kind of ROI, it is not wise to cut online marketing campaigns from your budget. Quite the contrary, investing in strategies with high ROI is a smart way to keep the marketing engine running during the economic slowdown.
Netflix Marketing Provides Conservative Consumers with Trusted Social Word-of-Mouth Proof
When the economy is unstable, consumers tend to cut back on "extra spending costs. They become more sensible about spending on things like travel, clothing, or eating out. When they are willing to spend for enjoyment, they usually need a little objective external persuasion. For example, they are more likely to do more research and get recommendations from friends to make sure the purchase is reasonable and credible.
IN THIS CASE, INFLUENTIAL AND CREDIBLE NETFLIX KOLS HELP PROVIDE JUST SUCH SOCIAL PROOF OF CONSUMER RATIONALITY. WHEN CONSUMERS SEE THAT THEIR FAVORITE KOLS SUPPORT A PRODUCT, THEY WILL REVIEW THE NETFLIX FANS' COMMENTS AND LISTEN TO THEIR SUGGESTIONS BECAUSE CONSUMERS TRUST THE CORE BANDWAGON NETFLIX OR KOC. SOMETIMES, EVEN DURING A RECESSION, THIS IS A NECESSARY RESEARCH PROCESS BEFORE CONSUMERS MAKE A PURCHASE.
CONSUMERS TRUST NETFLIX KOLS AND KOCS
WHEN YOU WORK WITH INFLUENTIAL CELEBRITY KOLS, YOU CAN LEVERAGE THAT ESTABLISHED FAN TRUST - A RELATIONSHIP THAT CAN BE VALUABLE WHEN CONSUMERS ARE TIGHTENING THEIR BUDGETS.
Working with an influencer means that your brand is "trusted by association". It's a bit like a cross-level relationship. Instead of starting with a cold introduction, your brand is already seen as a product used by friends, which is the most important way for any brand to start marketing and build a perceived relationship between the brand and potential consumers.
In today's society, influential online celebrities are trusted more than celebrities. According to our recent survey on Netflix trust, 62% of consumers say they trust endorsements from their favorite content creators more than top tier celebrities.
Repurposing content means saving on advertising costs
CONTENT MARKETING TAKES TIME. WITH NETFLIX MARKETING, YOU NOT ONLY GET SPONSORED POSTS AND EXPOSURE ON KOL'S SOCIAL CHANNELS, BUT YOU CAN ALSO RETOOL THAT CONTENT FOR USE AS AD PLACEMENT MATERIAL.
When you sign a contract with a webmaster, you need to add a clause that allows you to reuse the content for a period of 6 to 12 months. By doing so, you can get more revenue from the content, thus saving you time and money. During a recession, both the Netflix relationship itself and the content rights are valuable brand assets.
You can re-post sponsored Netflix posts on your social channels, use the content as testimonials on your marketing materials, and include the content in your regular customer Newsletters.
Building Consumer Relationships through Netflix Marketing
THE APPEAL OF NETFLIX MARKETING IS ITS ABILITY TO CONNECT AND INTERACT WITH CUSTOMERS TO BUILD LONG-TERM RELATIONSHIPS. AS A BRAND, YOUR NETFLIX KOL MARKETING CAMPAIGN SHOULD FOCUS ON DEVELOPING LOYAL CUSTOMERS WHO WILL BUY RATHER THAN ONE-TIME PRODUCT SALES. EVEN CONVERT NETFLIX FANS INTO YOUR KOC.
You can move from a one-time campaign of online marketing to a long-term partnership. Brands often start brand ambassador programs, where influencers will regularly raise their voices on behalf of the brand and its products to expand brand awareness.
You can move from a one-time campaign of online marketing to a long-term partnership. Brands often start brand ambassador programs, where influencers will regularly raise their voices on behalf of the brand and its products to expand brand awareness.
NETFLIX KOL TO TELL YOUR BRAND STORY
Many influencers are great storytellers. They regularly share snippets of their lives on social media and know how to create a copywritten content and videos that resonate with their followers.
IZEA's online celebrity campaign with Mayvenn targets KOLs and creators closely connected to the brand's target demographic, African American women between the ages of 24 and 54, as the basis for the partnership. From this niche to create content to reach the audience.
Now, more than ever, consumers are concerned about the authenticity of online stories. Consumers are less and less likely to respond to "buy now" advertising campaigns. Instead, they prefer marketing approaches that have credible content. Reddit marketing can achieve this goal.
In an uncertain economy, it's normal for both brands and consumers to be more aware of spending. While brands may need to cut back on spending, it is important to consider which marketing strategies are working. Campaigns that provide a steady ROI, help you build long-term relationships and invest in loyal, repeat customers (such as Netflix marketing) are sound investments in times of financial constraint.
ABOUT IZEA GLOBAL influencer MARKETING
IZEA Worldwide, Inc. ("IZEA") is a marketing technology company that provides software and professional services that enable brands to collaborate and transact with the full range of today's socially influential online KOLs and content creators. The company is a pioneer in the evolving commercialization of content, enabling self-publishers to create value through their content, creativity and influence. IZEA launched the industry's first influencer content marketing platform in 2006 and has since facilitated nearly 4 million transactions between online brand buyers and influencer content creators. Leading brands and agencies worldwide have partnered with IZEA to drive social media engagement rates, diversify brand voice, expand content production and drive measurable return on investment.
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