What is Opinion Leaders Marketing and Why Does It Matter?

If you are interested in learning about cryptocurrencies such as bitcoin, your first instinct is to find an authentic and credible source. Generally, you look for someone who has immense command over the subject and has the ability to deliver information in a precise and eloquent manner. For instance, crypto YouTube influencers like Ian Balina or Doug Polk would be your first choice to develop a basic understanding of cryptocurrencies.

Now the question is – why do you trust such people more than anyone else? Why do you think what they have to say carries more weight as compared to the others? Because they are opinion leaders!

The literal definition of an opinion leader would be someone who leads with their opinion, however, there are two aspects of opinion leadership:

• They are influential members of a particular group with a strong understanding and knowledge of what that particular group is interested in so the general population turns towards them to seek their advice and opinions.
• Due to their interest, they become early adopters of beta, pre-release, or recently launched products and services to inform the general population about their views and experiences.

The insight of opinion leaders matters because they have the passion, knowledge, and objectivity to review a product or service thoroughly from both aesthetical and functional aspects to provide their independent verdict. Their overall expertise regarding the subject matter along with their popularity gives their opinion more weight and that is exactly why people base many purchasing decisions on such opinions. Sometimes people actually wait for their trusted opinion leader’s verdict before buying a certain product or service. This is one of the reasons the endorsement from opinion leaders has become a critical marketing tool for a wide range of businesses.

The best way to understand what opinion leadership entails is through an example. If you have ever searched for smartphone reviews, you must have come across Marques Brownlee who a YouTube tech enthusiast running a channel that is called MKBHD. With more than 11 million subscribers and massive reach on other social media platforms, he has made himself a benchmark when it comes to technology product reviews.

Smartphone OEMs usually send him pre-release devices which he uses for a while before broadcasting his opinion about the product. He is measured and meticulous in his approach and assesses every aspect of the phone in detail which a common person is guaranteed to miss. In the end, he clearly lays out the pros and cons of the device making it easier for the general population to make an informed decision.

Just like MKBHD, there are YouTube crypto influencers such as DataDash, Crypt0, Ameer Rosic, Suppoman, Ivan on Tech, Boxmining, Doug Polk Crypto, and more. With their passion for cryptocurrencies and blockchain, they don’t only keep themselves updated about the latest developments but present their own views in a way everyone can easily understand.

Nothing has changed more drastically in the past few years as digital marketing has. On the same note, opinion leaders or influencers who used to be passionate and knowledgeable individuals in their field of interest have increasingly become a crucial marketing tool for a diverse range of businesses. And here is why:

Amplified Awareness

Since opinion leaders have large followings and subscriber bases on a variety of social media networks, they are in a much better position to broadcast the brand message to the target audience. This gives businesses an improved way to raise awareness about their brand.

Precise Targeting

Opinion leaders usually stick to a particular niche which means their followers mostly consist of people who would be interested in that particular product or service. This means that businesses have the option to directly target their potential customer base through opinion leadership marketing.

Enhanced Engagement

Everyone in marketing knows engagement is key to a high return on investment. By targeting people who are most likely to be interested in your product or service, your business has a better chance to generate more buzz and engagement which can even lead to a viral effect.

Authentic Credibility

When a random person or an actor talks about the features of your product, it generally doesn’t come across as genuine and appears to be blatant advertising. On the other hand, when an opinion leader reviews your product and talks about its advantages, it holds much more authenticity and weight in the eyes of your potential customers. Moreover, they are more likely to make a purchase.

Low-Cost High Return Strategy

As your business targets the potential customer base, you have the ability to generate highly credible and influential content that does really well in search engine results. It means that the marketing dollars you spend go a long way in terms of generating direct and indirect channels of revenue, not only in the short term but in the long term as well.

Although the answer appears to be obvious, there are underlying psychological reasons why opinion leaders or influencers are so successful in shaping public opinion. Yes, they have more knowledge, insight, and popularity, but these aren’t the only reasons people flock to listen to what they have to say. There are other factors at play as well including:

• They Provide Social Proof – With generic and conventional ads, you feel detached and on a subconscious level know that it is a set up to make you believe in certain things. On the other hand, influencers take a more genuine approach that is relatable for most people and this is why they seem to be more believable.
• They Have Intellectual Authority – Regardless of how intelligent or smart you are, perception often trumps reality. Opinion leaders have a way with words and the following that gives them a springboard to position themselves as an authority over a certain subject or field. This perceived authority makes us believe there must be some truth to what they are saying.
• Likability – Unlike conventional ads where people don’t have any bond with the person talking about the product or brand, opinion leaders have viewers who don’t only follow them but like them enough to make everyday decisions based on their suggestions. This likability factor plays a big role in molding the opinion of the general population.

Occasionally, all of these factors work in tandem and lead to a phenomenon called virality. It simply means a particular post or ad starts receiving a lot of engagement that can be in terms of views, comments, or shares across different social networks. This viral effect often creates trends that people love to be a part of.

This is how opinion leadership marketing generates hype and attempts to shape public opinion in favor of its brand.

Generally, it is not that difficult to identify opinion leaders as they often come up in your search results or you hear about them from some other source. That being said, before you start believing in everything someone has to say, it is imperative to carry out a comprehensive research about them so you know you are putting your trust in the right person. Here’s what counts the most:

• Integrity & Authenticity – Some opinion leaders are fundamentally brand ambassadors as they take money from a business and try to prop up their product whenever they get the chance instead of highlighting its pros and cons objectively. Search for opinion leaders who are authentic in their approach and maintain their integrity when reviewing products.
• Followership – Generally, quantity alone isn’t a good measure of someone’s integrity or objectivity but it is an indicator you shouldn’t discount. A high number of followers or subscribers across different social media platforms often indicates that the person shares high-quality content.
• Past Success – Looking at the history of what they have done before will reveal if a certain influencer is a good fit for your opinion leadership marketing or not. Ensure that you are choosing someone who takes the job seriously and covers every important aspect of the product instead of just doing the bare minimum to earn a paycheck.

ICODA Makes Industry Influencers Talk About Your Crypto Project

If you have a cryptocurrency or blockchain startup that you want to be marketed just right, ICODA Agency has the multi-pronged strategy you need to create the buzz including making crypto opinion leaders talk about your next big crypto project. Our innovative and tested promotional and PR strategies set you up for success.

Apart from that, we provide you with supplementary services including website development, offline and online campaigns, and you can also seek the assistance of one of our opinion leaders to give your project the springboard it needs.