By Vinayak Kumar
There has been always a deep connection between an Entrepreneur and an Influencer. In fact, their relationship is almost like a couple, who compliments each other. So to understand their relationship and how they work together to build a powerful brand, we have to first understand what they are, and what they do.
Who is an Entrepreneur?
According to various authors, here are a few characteristics of an entrepreneur:
1. Innovator, who develops untried technology
2. Who maximizes the opportunities?
7. Has a never-give-up attitude
In short, entrepreneurs are those people who have a very strong will to change or improve the lives of others by their innovation and creativity. They understand the needs of people because they have a deeper connection with the problems of people. Further, entrepreneurs are someone from the crowd, who decided to do something about the problem that they are facing.
Who is an Influencer?
A simple definition will be, “a person or thing which influences another”. But a more appropriate definition related to marketing would be, “a person with the ability to influence potential buyers of a product or service by promoting or recommending the items on social media”. In addition, a few characteristics of an influencer are:
Firstly, you can see from above that their characteristics are overlapping. Secondly, those characteristics which are missing in one are fulfilled by the other. Thirdly, they seem to complement each other, just like a perfect couple. So finally, while working together, there is no doubt that they will create a greater impact. Further, let’s see 5 reasons, how entrepreneurs and influencers can work together to build a powerful brand.
1. Understand the pain points of customers
2. Make people understand the ideology behind the brand
3. Developing credibility for the brand
4. Very precisely monitoring the Target Group
5. Get the feedback of brand
Before going into details of each of the above points, let’s see how consumers are influenced by social media or influencers-
1. 70% of Teens Trust Social Media Influencers More than Traditional Celebrities
2. 86% of Women Use Social Media for Purchasing Advice
3. 49% of Consumers Depend on Influencer Recommendations
4. 60% of Teens Follow Advice From Influencers Over Celebrities
5. 2/3 of Marketers Promote Content With the Help of Influencers
6. Influencer Marketing Campaigns Earn 6.50 Dollar for Every Dollar Spent
7. 57% of Fashion and Beauty Companies Engage in Influencer Marketing
8. 74% of People Trust Social Networks to Guide Purchasing Decisions
9. 40% of Customers Use Ad-Blocking Technology
10. Marketers Spend $25,000-$50,000 on Influencer Marketing Campaigns
11. 40% of Twitter Users Made a Purchase Based on a Tweet
12. Facebook is the Most Influential Social Media Network
13. 60% of Consumers Have Been Influenced by Social Media or a Blog While Shopping at a Store
14. Purchase Intent Increased by 5.2 Times by Influencers on Twitter
15. Influencer Marketing Is the Fastest-Growing Online Customer-Acquisition Method
Understanding the Pain Point of Customers
Above all, understanding the pain points of customers is one of the best ways to build a powerful brand. Firstly, it is required in developing a product or service is that it should solve some major pain points of customers. Every individual has one or other kind of problem, but not every problem of an individual is common to many. Secondly, understanding the common pain point, which a large population of people face, requires deep market analysis. Moreover, conducting market analysis, on such a deeper level, on a large population of people, can be very tiresome for an entrepreneur. Finally, influencers save the day of an entrepreneur. As influencers have a personal connection with a large group of people, so they understand what are the common problems that the mass population face. They can even create a public poll on their channel, to understand more precisely, the needs of people.
Make People Understand the Ideology Behind the Brand
Every product starts with an idea. So there is always some inspiration in the mind of an entrepreneur which leads to the development of a product. If people are able to understand the ideology behind your product, then they will value your product more. For example, Elon Musk’s idea behind “Tesla” was to create a car that would run on sustainable energy and cause no pollution, because rapid depletion of energy sources and high rate of increase in pollution level is a sign of danger to the world. If the rate of consumption of petrol and diesel are not reduced somehow, then soon, the petroleum reservoirs will become dry. And we have already seen the effects of global warming due to increased rates of pollution.
People understood this ideology of Elon Musk because they are already aware of these problems and hence “Tesla” became very successful. But it is not necessary that people are already aware of the idea or problem that an entrepreneur is currently working on. He may be working on a futuristic problem, or on some problem which people are very habitual to live with, for example, a colony of human on mars or sanitation and hygiene in rural parts of the country, then in such scenario it becomes very important for brands to take help of influencers to make people aware of the ideology behind the brand and its benefits, to build a powerful brand. For instance, a brand can find the right influencer for them, who can take their idea to the people out there at Hobo video.
Developing Credibility for The Brand
Due to a very competitive consumer market, a brand needs very high credibility amongst consumers to sustain itself in the market. It is seen that often people get confused among the various available options of brands while purchasing a product. In such confusing situations, they often go for a brand that they have heard anywhere but from a trustable person. That trustable person can be family or friend or any social media influencers that they are following. Further, even their family or friend, from whom they are asking for suggestions, are influenced by social media influencer only.
So, directly or indirectly, everybody is influenced by some influencers. Now, gaining very high credibility, to a band, will take time, but on collaboration with an influencer, the process becomes easy. As on promoting a brand, the influencer transfers his credibility to the brand. So, collaborating with an influencer is always beneficial for a brand. It helps to build a powerful brand. For instance, Hobo Video can help you to collaborate with influencers and brands who have very high credibility amongst people.
Very Precisely Monitor the Target Group
Influencers have an option to view statistics on their social media page. They can also view very detailed statistics of the number of views on a daily, monthly, and yearly basis, number of likes, which post of theirs is gaining popularity, what are the reactions of the audience, etc. On the basis of these statistics, they can also provide an analysis to the entrepreneur about their product or service. Hobo Video provides a detailed analysis of everything to influencers and brands so that they can understand how their post or product is performing, improve on that, and eventually build a powerful brand.
Get the Feedback of Brand
In the comment section of any post, people share their views and suggestions about the post. After going through the comments of the audience, influencers get an idea of what are the things that are liked by the people and on what things there is still a requirement of improvement.
To sum up, together, influencers and entrepreneurs can take a business to great heights. Further, through their persuasive personality and creative methods, influencers can easily convince people about your product. Influencers are the bridging link between you and your customers, as they carry your idea to the customers and also bring you the feedback of customers. Hobo Video provides you with a perfect platform to collaborate with each other.