The Dos and Don’ts of Peer to Peer Marketing (P2P)

By December 8, 2019Digital Marketing
peer to peer marketing

92% of individuals trust word-of-mouth recommendations. It only shows the power of peer to peer marketing. 

Peer to peer marketing is very powerful because it relies on who you listen to the most. Your wife, your closest friends or co-workers could be the reason why you make a decision. 

More importantly, your peers reflect your choices. That’s why peer to peer marketing is on the rise and a pivotal part of our lives if it’s looking at what our peers say on Yelp or Google to what they say to us in person. 

Peer to peer marketing is becoming more important than ever, especially with Generation Z influencers on social media. 

This kind of marketing is incredibly important to your business and how to get people to talk to other people about your business. 

Here’s what you need to know about peer to peer marketing and how it’s changing the future of advertising and business. 

Pick a Niche for Peer to Peer Marketing

As with any kind of advertising, you have to pick a niche in order to for peer to peer marketing to succeed. 

You have to solve a problem for a specific audience. This will help you uncover what kind of marketing you want to do for a specific audience and help you develop your product. 

More importantly, figuring out your niche will help you discover what kind of problems your customer has and who is your current competition that is also serving your customer. 

Figuring out your niche, specifically who your core audience is, can help you figure out how to best reach your audience.

You’ll find that influencer or peer to peer marketing is something that Millenials and Gen Z heavily rely on when they make their decisions.

They are looking for authenticity over just a brand name. 

You can find more about digital marketing trends in 2020 on our website that help supplement your marketing approach, specifically how to stay on top of market trends in your industry.  

The Do’s and Don’ts

You don’t want to pick 5 different niches as an attempt to sale to everyone. The broader you get, the less valuable people see you because you are trying to serve everybody. 

You do want to pick a niche, focus on the customer, and show what authentic your product is and what it can do for them. 

Influencer Marketing Strategies

After you’ve picked a niche and figured out who your target market is, you’ll need to create an effective message. More importantly, you need to figure out how to send this message.

Influencer marketing is on the rise because it takes into account the authenticity of the message over the salesmanship. 

People want a genuine message about a product that relates to them. They want to hear from people who have had the same experiences and struggles that they have had. It’s why people buy from influencers because they have the answer. 

This is why businesses are hiring influencers to speak about their products. 

An influencer who has millions of fans gives a shout out to your business will often do wonders for your business as opposed to doing something yourself.

The Do’s and Don’ts

Don’t try to market your product yourself with your influence if you don’t have any followers. 

What you should do is reach out to influencers who take your product to the next level. Influencers can show the authenticity of it. They can make it more relatable to your ideal customer. 

Offer Incentives to Your Customers

A coupon or points can act as an incentive to your customers. 

Peer to peer marketing is about appearing authentic in how you tell people about your product, which can then lead to other people telling their friends and family about your product. 

This is called word-of-mouth. 

Word-of-mouth or someone who refers to your business is also a form of peer to peer marketing that doesn’t necessarily involve influencers. It just involves other people telling other people. 

One way to increase the likelihood of this happening is by offering customers an incentive every time they refer somebody to your business. You can send out an email that offers a discount for when they fill out a review of your business. 

Or you can have a referral program that offers promotions and discounts to your customers every time they refer somebody to your business.

The Do’s and Don’ts

Don’t tell your customers to refer to other businesses without an incentive. 

What you should do is offer an incentive that gives people a reason to talk about your business. It also gives them a reason to come back to your business.  You are creating a lifelong customer. 

In addition to peer to peer marketing strategies, you should also figure out how to build a brand name to attract influencers. You can read more about how to build a social media campaign on our blog

How Does Peer to Peer Marketing Affect Your Business? 

Peer to peer marketing is about creating authenticity. And authenticity is built on trust and peer to peer marketing. 

Newer generations want to be able to trust the product, and who better to trust than someone who is exactly like them, like an influencer. 

Influencer marketing is becoming more prevalent because it’s less about the history of the brand name and more about the personalized message. Marketing is more personal than ever because it focuses on the individual and their needs. 

As a business owner, you have to decide how to get your message to your audience with peer to peer marketing. Who is spreading the news of your product? 

It can be influencers on social media. It can be offering discounts to past clients as a way to incentivize them to spread the word about your product. 

You can find more information on how we help businesses with peer to peer marketing by contacting us