Why Influencer Marketing Works

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Just as the world has shifted to social media, consumers are now looking to fellow consumers and peers to inform them of what to buy and when.

Essentially changing the balance of power between consumers and brands, peer voices now have a much more important role in purchasing decisions.

Buyers now look to each other and their favourite media personalities who have built enormous followings across social media platforms such as YouTube, Facebook and Instagram.

Brands no longer have the same control they did in the past, with the voice of the consumer now the most important.

What is influencer marketing?

Influencer marking has been defined as;

“Identifying the individuals that have influence over potential buyers, and orients marketing activities around these influencers.”

This market influence typically stems from an individual’s expertise, popularity or reputation. Early on big brands would have looked to celebrities or popular bloggers to influence consumer decisions. Now, given the importance of peer recommendations, and largely helped by the ‘megaphone’ of social media, we’re seeing how ‘everyday’ or regular consumers are having just as great of an impact.

The use of influencer marketing is still however relatively new, with many companies not fully realising its power. Here we’ve outlined three key reasons why your business should embrace influencer marketing.

It’s powerful

Word of mouth still proves to be the most effective way to make a sale. McKinsey & Company found that word of mouth is behind a staggering 20 to 50 per cent of all purchasing decisions. They also found that “marketing-induced consumer-to-consumer word of mouth” generates more than twice the sales of paid advertising.

Along with higher retention rates and more authentic brand followers, influencer marketing gives brands an opportunity to leverage the word-of-mouth power with that of social media, creating a huge opportunity to sell more product or service.

It has trust

Despite the ever-expanding array of advertising platforms and strategies, consumers around the globe still place their highest levels of trust in other consumers. According a global Nielsen Internet survey, 78 per cent of respondents said they trusted – either completely or somewhat – the recommendation of other consumers.

Edelmen’s Trust Barometer similarly found that 63 per cent of those surveyed trusted “a person like them”. When it came to the company however, 49 per cent would trust a brand’s employee and just 43 per cent would trust the brand’s CEO.

Looking at these figures it’s obvious who needs to be telling your company’s story – the consumers.

It’s social

Social media has been the single largest factor in the growth of influencer marketing. In the past consumers would make purchasing decisions based on what they heard or saw from the brand. Now, consumers look to company’s social media pages and platforms to see how other consumers interact and rate the products and services.

There is a opportunity here for brands to partner with the powerful bloggers or personalities in their space to influence the legions of fans and followers that listen to their every word. It’s no longer about what the company tells us, consumers want to learn and interact with a brand rather than just listen.

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3 PR Myths Debunked

public-relationsWith the proliferation of mass media in our lives, the public relations industry is steadily gaining prominence in the public eye.

From newspaper articles and reality TV shows to online blogs and social media campaigns, PR professionals across the globe are responsible for shaping almost everything we see in the media every day.

Therefore, it should not come as a surprise that there are many misconceptions or myths about this growing industry.

Here is a list of three of the most common PR myths:

Myth 1. PR is not the same as advertising or marketing

I’m sure I can speak on behalf of most other PR professionals in the industry – not many people understand what we do. When you tell people what you do for a living, they will usually say ‘oh, do you mean you’re in marketing/advertising?’

Although PR shares the same general goal as advertising and marketing – to promote a business’ product or services – each go about it quite differently.

PR focuses on promoting the public image of a company or an individual via ‘free’ or ‘earned’ editorial coverage. A PR agency will generate stories with the goal of them appearing in either traditional media platforms like newspapers, TV and radio, or newer media platforms like social media and blogs.

Advertising, on the other hand, focuses on getting paid coverage in the media, via print advertisements, TV commercials, signage and other paid placements on radio, blogs, websites and social media. Advertising agencies help companies come up with a concept or campaign and then arrange for the ads to appear in selected outlets.

Finally, marketing promotes a business by identifying the target audience and creating a marketing strategy that pulls together a mix of services including market research, sales, advertising, PR, graphic design and photography.

Myth 2. All publicity is good publicity

According to the popular adage, all publicity is good publicity.

I believe, however, this is untrue. There are many examples of businesses or individuals who have been hurt by negative publicity and have never recovered.

Bill Cosby was one of the USA’s most beloved comedians and actors until he became the subject of allegations of sexual abuse as early as 2000. As of September 30, 2015, Cosby has been accused by at least 54 women of either rape, drug facilitated sexual assault, sexual battery and or sexual misconduct. Although he has never been charged and he has denied all allegations, his reputation has been severely impacted. He was dropped by his talent agency, many awards or titles he previously received have been revoked, reruns of his old TV show The Cosby Show have been pulled from syndication and numerous organisations have cut any ties with him.

Myth 3. PR is easy

Many business owners think that PR is easy. All they need to do is write a press release and journalists will be knocking at their door.

PR is more complex than that. It’s about building a strong brand by creating good relationships with the media, consistently writing and communicating effectively, understanding what makes a good story and having extensive knowledge of the industry.

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Cromwell Wins Again

Trophy-Image-3Cromwell has confirmed its position as one of the country’s leading property fund managers, scooping the A-REIT award for the third consecutive year at the 2015 Professional Planner/Zenith Fund Awards. Cromwell was also a finalist in the Direct Property Award.

Cromwell CEO Paul Weightman said he was delighted that the funds management team has been consistently recognised by industry peers.

“The Professional Planner/Zenith Fund Awards set a benchmark for excellence in our industry. It’s an honour to be nominated but a great testament to the team to receive the A-REIT award for the third time in a row,” he said.

“I would like to congratulate the funds management team for consistently getting the best possible results for our investors.”

The awards were announced on 9 October 2015 at a luncheon event at the Ivy Ballroom in Sydney.

Director – Cromwell Funds Management, Michael Blake, said the award meant a lot to the team.

“Cromwell’s funds management capabilities perfectly compliment its range of direct property products. In an environment where direct property assets can be expensive we are able to offer investors access to a number of high performing, listed property security portfolios.”

“We remain focused on delivering for investors over the long term and through property cycles. It is pleasing to be acknowledged by the industry for this responsible approach to funds management,” Mr Blake said.

The Professional Planner/Zenith Fund Awards recognise the fund management industry’s best and brightest. Based on Zenith’s renowned and robust research methodology, the awards provide Professional Planner readers with unparalleled insights into the best fund management businesses in the country – including their structures, processes and people. Covering a range of fund categories, the awards represent a comprehensive assessment of the current state of the Australian managed funds industry.

SEQ Stars Shine In Season-Opening Win

The SEQ Dealer Trade Stars have started their inaugural WNBL season in grand style with an impressive 80-63 win over last year’s finalists Bendigo Spirit at Logan Metro Indoor Sports Centre on Friday night.

A delighted Stars coach Shane Heal said, “I was really happy for the team as they’d put in so much hard work to get us to this point, so it was nice to be rewarded early.

“Considering the challenges in not having two of our best players available through injury this shows the depth in our squad and augers well for the season ahead.”

The team’s two US imports were outstanding. Ify Ibekwe (19 points, 9 rebounds) and Denesha Stallworth (24 points, 10 rebounds) were an exciting combination and very athletic up against Bendigo’s taller players.

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SEQ Stars’ US import Ify Ibekwe drives to the hoop against Bendigo.

Guard Amy Lewis’ defensive effort and intensity was outstanding for the Stars with Rachel Jarry (14 points, 5 rebounds) providing great leadership in her first game back in the WNBL for a while.

Lauren Mansfield with 8 assists and only one turnover stepping up from the SEABL was a big addition and lead the team like a veteran.

“I couldn’t have been prouder of their desperation and the way they played together, showing intense defence but also playing with a high scoring style,” Heal said.

“The team withstood two challenges from Bendigo in the second and last quarters which was very pleasing.”

The Stars next game is this Friday against Dandenong in Melbourne.

Shane Heal said about the task against Dandenong, “The two teams are very even and it will be a big test for us to replicate our great first-up effort.

“Dandenong are used to being in the playoffs so this will be a tough battle for us.”

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Coach Shane Heal addresses his players at the break

 


Daydream Island Summer Getaways Sale On Now


Daydreaming of a tropical island getaway this summer? Now is the best time to book your next holiday at Daydream Island Resort and Spa in the Whitsundays with Daydream’s Getaway sale.

The Resort is offering a three-day package priced from $372* per person, twin share in a Garden Balcony Room – an amazing 20 per cent saving.

The package includes three nights accommodation, a scrumptious full buffet breakfast daily, a bonus $50 food and beverage voucher per room, per stay (children stay and eat breakfast free of charge), free shell necklace and mocktails on arrival, free Wi-Fi and a free holiday portrait during your stay.

Guests will also enjoy over 20 free guest activities including kayaks, catamarans, stand-up paddle boards, stingray and shark feeding show, open air cinema, rainforest walk, gym and much more.

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Guests can also upgrade to an Ocean Balcony Room from only $462* per person twin share (a 20 per cent saving) or a Coral Ocean Balcony Room from only $522* per person twin share (a 20 per cent saving).

The special is on sale until 30 November, 2015 and valid for travel from now until 23 May 2016 (block out dates apply).

Daydream Island Resort and Spa is located in Queensland’s stunning Whitsunday Islands in the heart of the Great Barrier Reef.

The multi award-winning resort is home to one of the world’s largest man-made living reef lagoons known as The Living Reef, a great selection of restaurants and bars, a fringing coral reef and Rejuvenation Spa offering a selection of health and beauty treatments.

For bookings free call reservations on 1800 075 040, contact your local travel agent or visit www.daydreamisland.com

*Conditions apply: Subject to availability. On sale until 30 November 2015. For travel until 23 May 2016 (Blockout dates apply). Children 0-14 years inclusive stay and eat breakfast free of charge when sharing a room with parents/adults and utilising existing bedding. Max capacity of 4 people per hotel room/suite. Max capacity of 8 people per family room. Cots can be provided free of charge. Launch transfers are not included and must be booked at time of booking accommodation. Free Wi-Fi in atrium and all room types 24 hours per day. Prices quoted in Australian dollars.