P2P marketing is the future of reaching your target audience in today’s digital age of information overload, when every business is competing for a prospect’s attention.
Consumers are heavily influenced by the recommendations of their friends and acquaintances. Let’s get into the specifics of P2P marketing and how it may help you reach your target demographic.
The first step in successful P2P marketing is pinpointing your core customer demographic. In addition to shorter attention spans, audiences are also more likely than ever to rapidly shift their media consumption patterns.
Today, you may expect a more niche and divided audience as a result. Your advertising efforts will be for naught if you don’t find the right people to reach.
Identifying your target demographic may be accomplished in three simple steps:
- Get a firm grasp of your industry: Put together a catalogue of your main offerings. Then, consider other permutations or applications.
- If your business facilitates relocations of any kind—whether for businesses, students, families, etc.—you may tailor your offerings accordingly. Depending on the nature of your company, this might be useful in identifying untapped markets to target with advertising.
- Determine what issues your product or service addresses: Locate the issues that your potential customers are having and think of ways your product may help them. This might help you empathise with your target market by understanding their problems and how your solution can solve them.
- Find out what your rivals are up to: It’s important for each firm to identify its main rivals. Check out their target demographics and the language they use when communicating with them. Can you also win over these demographics?
- After identifying your intended audience(s), you must then locate effective messengers.
Construct a model of your ideal influencer
There is no shortage of credible and well-followed social media influencers online. However, it may be difficult to determine which influencer would best serve your brand’s needs.
Third, look for ways to form alliances with influential people.
Half the fight is won after you’ve selected the influencers you want to work with. Getting in touch with these opinion leaders is the next stage in developing a partnership strategy.
Do some in-depth investigating
For the brand and influencer connection to be successful, it is important to learn as much as possible about the influencer involved.
Both parties stand to benefit from this effort. Learning as much as possible about your selected influencer can help you connect with them on a deeper level.
In addition, this might assist you show the influencer why the offer you’re giving is ideal for their target market. For the simple reason that the best conclusion is always the one that benefits all sides equally.
Make a private social networking website
Providing your consumers with a private online community in which to communicate and participate is also crucial to the success of any P2P marketing strategy.
This online group may work as a virtual focus group for your product or service, among its many other uses. It allows your consumers to voice their opinions on anything from product design to advertising.
The process of constructing your online community may be made into a game. Fun, difficult, and always keeping the client interested, gamified experiences are the way to go.
However, it is not a simple process and requires a lot of imagination and inspiration to develop a vibrant online community.
Incentives may be a great way to keep people interested in and contributing to your community. By providing participants with attainable incentives, your programme will maintain their drive and enthusiasm.
All sorts of things can be rewarded. Earning points, medals, or status in your group is one example of how this might happen.
Numerous businesses have developed community incentives programmes, which have increased the involvement of both current and potential consumers.
Marketo, a marketing automation software, has had tremendous success with its Rockstar Rewards Programme for its user community.
The goal of the programme was to incentivize desired behaviours in the target audience through the use of game mechanics. Since launching, the organisation has seen a monthly engagement boost of about 79%.
Convert customers become brand advocates in tip #6.
Sodexo’s Director of Marketing, Jamie Mackenzie, has stated that “brand loyalty overcomes any rational-based, price-based decision-making because you have a powerful emotional driver-you are not buying based on discount temptation.”
Buying decisions are influenced more by recommendations than by price in the P2P marketing efforts. You include your clients into your brand in a way that isn’t coercive, but rather mutually beneficial.
Here are some tried-and-true methods for turning your consumers into brand advocates:
Responding to Complaints and Taking Action on Feedback You may win back your clients by doing just that. This demonstrates to clients that the business values their feedback. By taking the time to get to know your clients, you can establish a solid base of advocates for your business.
Build Brand Loyalty: In order to keep customers coming back for more, you need to provide them a reason to feel special and special treatment.
Offer a discount to first-time buyers or reward your highest-spending clients with coupons or special offers to increase their likelihood of returning. You’ll see an increase in brand loyalty and repeat business by doing these things.
The aforementioned guidelines are a great place to begin when planning a P2P marketing strategy for your organisation.
Now I’m curious if you have any examples of community achievements to share.