So, say you’re interested in a new cell phone or a new
cosmetic product or even a new pair of jeans. What are the factors that go into
deciding whether to buy or not? If you are like most women in America, you call
a friend for advice and ask whether they have personally had experience with
the product or service being considered or if they know someone who has. After
all, what better source of information on a new product or service than a peer,
someone who is just like you and shares similar interests? It’s common sense,
and now research has shown that more than 40 percent of US Female internet users
consider online product reviews or blogs by known people or people like them as
the most credible according to a survey conducted by eMarketer.
Within the past 10 years, the popularity of You Tube
vloggers, bloggers and online “experts” has risen at a dramatic rate. There
have been more than five billion hours of beauty tutorials and instructional
videos uploaded and more than 135 million how-to videos and just last year
viewers pressed play on You Tube videos more than 2 trillion times! Many You
Tube content creators boast subscriber numbers in the hundreds of thousands and
their opinions are valuable. According to ReelSEO.com, a video
marketing site, major brands have only generated three percent of the 14.9
billion beauty-related videos on You Tube and there are more than 45,000
non-brand affiliated channels specializing in beauty content. Those channels
have an average of ten more views than official brand channels. What does this
mean? It means that consumers trust regular people and their opinions on a
product or a service more than a brand. This is in part because most consumers
think that they will not get an honest opinion from a brand and are more likely
to get the real deal details from a regular Joe… or Jane as the case may be.
On top of women consulting the web for reviews of a
potential product or service that may be purchased, the highly coveted
millennial market is using the online medium and have become the most
influential consumer base in America. According to FameBit,
millennials have surpassed baby boomers and now influence more than $500
billion in spending each year! The number one way to reach this market is
through non-traditional media outreach, specifically You Tube. According to Entrepreneur magazine, millennials spend an average of 18
hours a day consuming media and it’s mostly content created by peers.
This translates into a missed opportunity for many
businesses. Let’s take real estate for example. A home builder that doesn’t
have its own regularly updated You Tube page with real life video examples of
their product, and a credible base of content creators who have had experience
with their product are not adequately targeting a key consumer base that can
buy their product. That You Tube content creator could be a valuable asset when
it comes to translating that experience into a great online review, blog or
commentary that speaks highly of their product or service and can bring in new
customers.
The good news is that there are options for companies that
want to begin cultivating a stronger online presence. mRELEVANCE offers a
number of online based advertising, reputation management and marketing options
and can cultivate the ideal solution to any marketing and advertising
shortfall. For additional information on our services visit www.MarketingRelevance.com or call
770-383-3360.