Independent Banker - January 2021 - 24

PORTFOLIO
◎FOCUS MARKETING
Influencer marketing:
what it is and how
you can use it
Influencer marketing has become far more than just a way to sell
overpriced products on social media. Now it's a well-established tool
for building brand awareness, boosting sales and more. Here's what
community banks and marketing experts say about this growing
industry. By Mary Yerkes
nfl uencer marketing has gone
mainstream. While it's often
associated with selling trendy fi tness
products on Instagram and Facebook,
infl uencer marketing is making its
way into established brands and
businesses, including community
banks, with impressive results. But
what infl uencer marketing looks like
in the digital age is a far cry from the
celebrity endorsements and product
hype of a few years ago.
" I think the simplest way to
describe this type of marketing is
brand advocacy, where a brand
partners with [infl uential people
or organizations] whose audiences
align with the brand's business, " says
Alana Levine, chief revenue offi cer
for Vancouver, Canada-based Fintel
Connect, a performance-marketing
fi ntech and fi nalist of the 2020 ICBA
ThinkTECH Accelerator. " There are
leading voices in the fi nancial services
space that help educate, inform and
engage a particular niche community
of followers or audiences. "
Quontic Bank in New York City
is a strong advocate for infl uencer
marketing. According to Patrick Sells,
the $1.2 billion-asset community
bank's chief innovation offi cer,
Quontic Bank uses infl uencer
marketing for everything from
attracting new customers to talent
acquisition. " In the last two months,
we hired eight people who found us
[through infl uencer marketing], " Sells
says. " If I had to pay recruiting fees, I
would have paid $80,000. "
Organic vs. paid
Sells points out that there are two
types of infl uencer marketing:
organic, where infl uencers mention
a brand or product without a paid
contract; and paid, where the brand
contracts with the infl uencer and pays
them to promote the product. Quontic
Bank uses both.
I
24 Q ICBA Independent Banker Q January 2021
Photo by CACTUS Creative Studio/Stocksy

Independent Banker - January 2021

Table of Contents for the Digital Edition of Independent Banker - January 2021

Table of Contents
Independent Banker - January 2021 - Intro
Independent Banker - January 2021 - Cover1
Independent Banker - January 2021 - Cover2
Independent Banker - January 2021 - Table of Contents
Independent Banker - January 2021 - 2
Independent Banker - January 2021 - 3
Independent Banker - January 2021 - 4
Independent Banker - January 2021 - 5
Independent Banker - January 2021 - 6
Independent Banker - January 2021 - 7
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Independent Banker - January 2021 - 30
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Independent Banker - January 2021 - Cover3
Independent Banker - January 2021 - Cover4
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https://www.nxtbook.com/mspc/independentbanker/october2021
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https://www.nxtbook.com/mspc/independentbanker/august2021
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https://www.nxtbook.com/mspc/independentbanker/december2017
https://www.nxtbook.com/mspc/independentbanker/november2017
https://www.nxtbook.com/mspc/independentbanker/october2017
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https://www.nxtbook.com/mspc/independentbanker/july2017
https://www.nxtbook.com/mspc/independentbanker/june2017
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