Influencer marketing isn’t as simple as choosing an influencer with a high number of followers to post an ad for you. In 2019, there have been a multitude of changes that have taken place in the influencer marketing world which brands need to factor into their strategies to get the most ROI.Consumer expectations around authenticity, an increase in influencers making it harder to reach their target market, and the need for solid evidence of the success of a campaign or post are the key trends we’re seeing shape the changes this year.
Below is a list of things to remember before engaging an influencer for your brand, to ensure the highest success rate.
Influencers are people too
It’s clear that brands need to identify an influencer that suits their image and has an audience appropriate to them, as it’s obvious it’s not a ‘one size fits all’ approach.
Think of the basic advertising and marketing principles such as brand consistency across its messaging, imagery, stunts etc. All of these principles also apply when it comes to selecting influencers.
For effective market penetration in the influencer space, brands need to change the way they see influencers. It can feel a little strange at first because we’re so used to having our own perception of them through a screen, but brands need to challenge themselves and stop being transactional and start building genuine relationships.
Doing this, not only will your brand foster beneficial relationships for future activity, but the synchronicity between the influencer, brand and audience is the key driver to the most genuine engagement and success of the campaign.
Of course, there is always the irony when it comes to using influencers since brands pay for influencers to post an ad, so it can be perceived as anything but genuine. Therefore, it is important to be mindful that influencer marketing is actually a partnership and when working together, both reputations are on the line.
2. Video is the new black
Like all key moments in pop culture, trends come and go but some stick so well that they stay popular through the generations. The 20s had smoking and flapper dresses, the 60s had the flare pants and tie-dye, the 80s had the boombox and the 90s had the blackberry.
In 2019’s digital climate, the legacy that millennials and Gen Zs have left is the ubiquitous use of social media. This demographic has propelled the amount of user-generated content full of memes, live streaming of stories and videos, which is why video is currently on trend.
Since 90% of Gen Z and 83% of millennials are spending at least two or three hours a day watching videos on their smartphones, brands need to capitalise on creating fun video content and memes that can be easily shared with their peers as it resonates well with this generation more than any other form of media.
3. Authenticity is key
When followers feel like influencers are real people they can relate to and even share similar experiences with, that’s when the magic happens. The most successful influencers have a highly captivated audience because of their ability to produce authentic and relatable content.
Since millennials and Gen Z’s are digital natives to social media and advertising across these platforms, they are naturally more switched on when it comes to recognising when they are being overtly marketed to.
According to a study by Deloitte, 72% of millennials use social media as a good way to stay connected to news and topics that are important to them, while 65% of millennials said that they are happy to receive targeted content if it aligns with their interests – proving they are savvy when it comes to their consuming of digital content.
If businesses want to engage an influencer to market to this demographic, they need to be mindful about content that’s not consistent with the influencer’s audience and brand.
Brands need to change their thinking to view their relationships with influencers as adding a ‘human element’ to their marketing approach, as opposed to looking to influencer marketing as another means to just sell their products.
4. Data is king
Influencer marketing has always been seen as an enigma, with traditional marketers often questioning whether it can yield actual commercial results.
The reality of it is that it can. One of the best examples is homegrown company Hi-Smile. Founders Nik Mirkovic and Alex Tomic started the company with $20,000 of their own savings using solely influencer marketing, which then grew the company into a $40M business with over 100,000 customers across the globe in just three years.
Measuring ROI and using data to track the success of a campaign is important, not just because you can say with authority that investing the marketing budget into the influencer space was a wise move, but so you can optimise your campaigns.
Influencer marketing is still relatively new and there’s a huge potential to lead the market.
5. Talking to Gen Z
By next year, Gen Z’s are expected to account for about 40 percent of all consumers, not to mention social media has become one of the key driving forces for this generation to purchase products, accounting for 80% of purchases.
Instagram (44%), Snapchat (21%) and YouTube (32%) are the core outlets making the biggest impact in this space and influence everything from purchasing decisions, lifestyle choices and even political perspectives.
After almost a decade of focusing on millennials and Gen Y, brands that haven’t started factoring Gen Z into their strategies are shooting themselves in the foot.
Given Gen Z’s have an attention span of about 8 seconds, capturing their attention requires authentic and engaging content that they can contribute to, interact with, or be a part of. They want to feel like they are part of an actual community attached to authentic causes.
Despite the digital landscape’s challenges, there’s an opportunity for brands and businesses to market to consumers in a more flexible way to adapt to this new digital era. With so many opportunities for brands to utilise this generation of social media lovers to their benefit, remember the five key tips to ensure success and tap into a savvy, yet highly engaged type of audience.
Nathan Ruff is the co-founder and CEO of Hoozu, a data driven content creation business that uses creators and content to convert sales for its clients. Nathan has a wealth of specialist knowledge across industry trends, managing risk and ensuring accountability in a relatively unregulated space. He has also successfully founded five companies, including Market Engine, Urban Geek Media and VOLT Media. Nathan has been instrumental in helping to disrupt the influencer marketing industry and bringing accountability to the discipline.
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Hear that? It’s the sound of millions of taxpayers cheering across the country: the Internal Revenue Service (IRS) has announced the open of the tax filing season. That date is February 12, 2021.
If you want to get your refund as fast as possible, the IRS recommends that you e-file your tax return and use direct deposit (be sure to double-check those account numbers before you send your return). If you file by paper, it will take longer. According to the IRS, eight out of 10 taxpayers get their refunds by using direct deposit.
Assuming no delays, here are my best guesses for expected tax refunds based on filing dates and information from the IRS. I can’t stress enough that these are simply educated guesses. I like math and charts as much as the next girl, but there are a number of factors that could affect your tax refund (keep reading)
* No matter when you filed your tax return, if you claimed the EITC or the ACTC, don’t forget to take into consideration that hold date.
My numbers are based on an expected IRS receipt date beginning on the open of tax season, February 12, 2021, through the close of tax season on April 15, 2021. To keep the chart manageable, I’ve assumed the IRS received your e-filed tax return on the first business day of the week; that’s usually a Monday, but if there’s a holiday (like President’s Day), I’ve skipped ahead until Tuesday. The same logic holds true for issuing refunds. In reality, the IRS issues tax refunds throughout the week, so the date could move forward or backward depending on the day your return was received.
Other sites may have different numbers but remember they’re just guessing, too: The IRS no longer makes their tax refund processing chart public.
Do not rely on any tax refund chart—this one included—for date-specific planning like a large purchase or a paying back a loan.
Remember that if you claim the earned-income tax credit (EITC) and the additional child tax credit (ACTC), the IRS must wait until February 15 to begin issuing refunds to taxpayers who claim the EITC or the ACTC (that’s pretty close to the start date). Don’t forget to consider regular processing times for banks and factor in weekends and the President’s Day holiday. The IRS expects to see tax refunds begin reaching those claiming EITC and ACTC during the first week of March for those who file electronically with direct deposit and there are no issues with their tax returns.
If you want to get your tax refund as fast as possible, the IRS recommends that you e-file your tax return and use direct deposit. Keep in mind that if you e-file, the day that the IRS accepts your return may not be the day that you hit send or give the green light to your preparer. Check your e-filing confirmation for the actual date that the IRS accepts your return.
If you file by paper, it will take longer. Processing times can take more than four to six weeks in the best of times (and these are not the best of times) since the IRS has to manually input data. Don’t forget about postal holidays, too, when counting on the mail. There’s just one official postal holiday during tax season, Monday, February 15 (President’s Day), and one that follows just after tax season, Monday, May 31 (Memorial Day).
Even if you request direct deposit, you may still receive a paper check. Since 2014, the IRS has limited the number of refunds that can be deposited into a single account or applied to a prepaid debit card to three. Taxpayers who exceed the limit will instead receive a paper check. Additionally, the IRS will only issue a refund by direct deposit into an account in your own name, your spouse’s name or both if it’s a joint account. If there’s an issue with the account, the IRS will send a paper check.
If you’re looking for more information about the timing of your tax refund, don’t reach out to your tax professional. Instead, the IRS encourages you to use the “Get Refund Status” tool. Have your Social security number or ITIN, filing status and exact refund amount handy. Refund updates should appear 24 hours after your e-filing has been accepted or four weeks after you mailed your paper return. The IRS expect that the refund tool will be updated for those claiming EITC and ACTC, beginning on February 22, 2021. Otherwise, the IRS updates the site once per day, usually overnight, so there’s no need to check more than once during the day.
If you’re looking for tax information on the go, you can check your refund status with IRS2Go, the official mobile app of the IRS. The app includes a tax refund status tracker.
Remember that the IRS will not contact you by phone or by email regarding your refund. If you receive a call from someone claiming to be from the IRS or a debt collection agency regarding your tax refund, hang up immediately: it is a scam. Follow me on Twitter or LinkedIn. Check out my website.
Kelly Phillips Erb Years ago, I found myself sitting in law school in Moot Court wearing an oversized itchy blue suit. It was a horrible experience. In a desperate attempt to avoid anything like that in the future, I enrolled in a tax course. I loved it. I signed up for another. Before I knew it, in addition to my JD, I earned an LL.M Taxation. While at law school, I interned at the estates attorney division of the IRS. At IRS, I participated in the review and audit of federal estate tax returns. At one such audit, opposing counsel read my report, looked at his file and said, “Gentlemen, she’s exactly right.” I nearly fainted. It was a short jump from there to practicing, teaching, writing and breathing tax. Just like that, Taxgirl® was born.
Once the tax liability has been determined, we must consider the final three items in income tax preparation: tax credits, other taxes, and payments. When an overpayment occurs, the taxpayer has the option of receiving a refund or applying the amount of the overpayment to next year’s estimated tax.
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School choice legislation on the fast track myemail.constantcontact.com – Today[…] the “Missouri Empowerment Scholarship Accounts Program” and specifies that any taxpayer may claim a tax credit, not to exceed 50% of the taxpayer’s state tax liability, for any qualifying contribution to an educational assistance organization for all tax years beginning on or after July 1, 2022. The cumulative amount of tax credits issued in any one calendar year shall not exceed $50 million […]0
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Samoa: Staff Concluding Statement of the 2021 Article IV Mission HTML Filehttp://www.marketscreener.com – Today[…] The surplus in FY2020 was driven by a favorable outturn in tax revenue collection owing to improved tax compliance in advance of the phased rollout of the Tax Invoicing Management System (TIMS) […] through revenue mobilization over the medium term: A holistic approach will be needed by improving tax compliance, increasing excises (e.g., alcohol and tobacco), and broadening the VAT tax base in light of a gradual revenue loss expected from the PACER-Plus agreement […]0
HMRC waives penalty for late filing of self-assessmentshttp://www.bbc.co.uk – Today[…] The tax agency said more than 8.9 million customers have already filed their tax returns. However, taxpayers are still required to pay their tax bills by 31 January […] However, they will need to file their 2019-2020 tax return first. People who have tax bills over £30,000, or who need longer than 12 months to pay their bill, are advised to call HMRC […]0
Getting a nice tax refund back is one of the best feelings in the world for small business owners. The big question is: how to spend that dough? We have a couple of suggestions on how to spend that money so that you can rejuvenate your business in the process.
Spend it on marketing (in the right places).
According to Cyber Alert, non-software companies with revenues less than $100 million spend between 3 percent and 10 percent of revenues on marketing. That’s a pretty decent amount of money to put towards marketing. That’s because, for small businesses, marketing efforts are hugely important when trying to grow their brands and gain new customers.
This year, put some of your tax refund towards marketing your business, but don’t just throw money blindly at your same old marketing tactics. Take this as an opportunity to try something new and really track your ROI. How much did you put in, how many clicks back did it earn? How many new or return customers did it bring in? What was the viewership like? Put some of your refund into trying new efforts and tracking their progress meticulously.
Once you’ve tested a couple new options, you should know what’s most worth your business’s money in the future. Some areas you could spend this money on: boosting different types of posts on Facebook and Twitter, creating advertisements for different social sites, and trying out different press release publication sites.
Thinking of investing in a CRM? We’ve answered your questions in our free e-book.
Add a pop of color to your office and team-build at the same time.
A couple years ago, we had a paint night at the office after hours. We enjoyed some wine and cheese while an instructor walked us through how to paint a beautiful landscape filled with brightly colored trees. It was such a fun team-building activity, and we ended up with lots of great paintings! We liked them so much, we ended up painting our entire office based on the colors used in the paintings, and then we hung everyone’s painting above his/her desk. Using some of your tax refund on an activity like this is a great way to change up the look of your office and it’s a lot of fun, too.
Replace old equipment.
It’s always good to take inventory of the equipment your business uses on a regular basis. Just as you couldn’t run your business without your employees, you couldn’t run your business without the equipment you use. Though it can be pricey to replace something, it’ll more than make up for it in the long run by ensuring you keep on providing your customers with the best possible products or service, plus, it’ll eliminate the stress of having to worry about whether your equipment will break down on you or not. It’s important to take care of what takes care of you.
Deborah Sweeney is the CEO of MyCorporation.com. MyCorporation is a leader in online legal filing services for entrepreneurs and businesses, providing start-up bundles that include corporation and LLC formation, registered agent, DBA, and trademark & copyright filing services. MyCorporation does all the work, making the business formation and maintenance quick and painless, so business owners can focus on what they do best. Follow her on Google+ and on Twitter @mycorporation.