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Did You Know… Edition 33: P2P Marketing

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Did You Know… Edition 33: P2P Marketing

Elle Humphries by Elle Humphries

Director of Marketing

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Full biography

Elle has been involved with the WSI Team and has been helping them simplify the internet since 2016 when she came on board as a marketing intern. Elle became a full-time digital strategist in May of 2017, in which she focuses her talents on Project Management and Digital Marketing for the WSI team.

Elle is now the Director of Marketing for WSI as she brings many attributes to the table, such as social media marketing, email marketing, display/search marketing, search engine optimization, content creation, customer relationship management, project management, and more!

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Summary:

Who are you often most influenced by? Friends, written reviews, or influencers? If you said yes to any of those, you have been impacted by P2P marketing. Peer to peer marketing (P2P) is the practice of encouraging customers to promote, advocate, and even sell products to their peers. Therefore, enabling people to turn to influencers, product reviewers, and authoritative websites, for product information. With that being said, about 92% of people making a purchase state that they are influenced by their peers (which is a huge number to take into consideration when deciding how to market your product effectively!).

Furthermore, have you ever read a review before purchasing a product? When shopping, more than 60% of consumers are influenced by a social media review or a blog post shared by their peers.Therefore, when participating in P2P marketing (as the marketer), there are three “must do’s” to market effectively, those are:  

  1. Differentiate your products from your competition 

  2. Engage your customers post-sale

  3. Interact on a personal level with your customers

Overall, it is extremely important to differentiate from your competitors, or consumers will have no problem jumping between substitute brands. Also, by engaging with your customers post-sale, it allows the customer to feel appreciated and valued after they made the decision to choose your company. This follows the lines of Interacting on a personal level with your customers, which makes the customers feel like they are talking to a friend, rather than a salesperson. Why is this relevant? This is important for the customer to gain trust with the individual and the overall brand, (in hopes to become a loyal customer for years to come!). 

P2P marketing has allowed the industry to continue to grow and is something to adapt to within your company/organization! 

Now you know the importance of P2P marketing!

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