6 Common Myths about Influencer Marketing
Influencer marketing has become the buzzword of media specialists across the world. As we move towards a world where social media and online marketing takes up more and more of an advertising budget, it is little wonder brands choose to team up with influencers.
While there is a lot of interest in influencers, there is also some confusion. For those who are more familiar with traditional marketing methods, they can often be unsure as to what influencers can do, how to measure their success or and even reach out to the right influencers. Consequently, some critics question whether influencer marketing is just a fad, but in reality it is in fact now a key pillar of digital marketing. With this in mind, we’ve taken a look at some of the most common myths about influencers and explained why influencer marketing should be in strategy in 2018.
1- Influencer Marketing is Only for Consumer Brands
Another myth around influencers is that they are only for consumer brands. This could not be further from the truth with content marketing, social media marketing, and your marketing strategy at large benefiting from interactions with the right people.
Even professional sectors can use the power of influencers on sites like LinkedIn to start an interaction with their desired market.
The key to understanding the influencer for your brand is to understand your audience. Professionals prefer using LinkedIn or Twitter while fashion savvy consumers prefer visual media like Instagram or Snapchat.
2 - Results Cannot Be Measured
Each Influencer marketing campaign or advert can be measured as long as you have an idea of what you want the campaign to achieve. By setting SMART goals at the start of every campaign, you can set a clear focus and ensure everything from your choice of influencer to your content supports your main objectives.
With the ability to support a wide range of goals and objectives, you may need to record and review different metrics for each campaign or piece of content. For example, for a campaign focused on building brand awareness, you may look for an immediate increase in the brand’s social followers. In contrast, for an paid advertisement promoting your latest product, you will have to look at the number of online sales coming from that specific platform.
Other metrics that you may analyse include:
- Engagement levels
- Social mentions
- Newsletter sign-ups
- Online sales
- Content shares
- Clicks to website
This means that brands will have to set clear objectives from the start and work with influencers to understand how their effect might be felt and measured online.
3- Influencer Marketing Should Be Your Only Marketing Strategy
This point may seem to run in the opposite direction to the rest, but influencer marketing is not a magic formula for business. As part of a wider digital marketing campaign, influencer marketing is a booster that enriches the experience. Content creation, SEO and traditional marketing are still necessary with the supplement of an authentic, engaging face. This is referred to as multi-channel marketing and is a must for businesses of all sizes. By engaging on multiple touchpoints businesses will find greater conversions and exposure.
4- Brands Don’t Have Time to Develop Relationships with Influencers
Creating a strong partnership with influencers plays an essential part in a campaign's success. But many businesses believe that they don't have the time or resources to establish and then strength their relationships. Whilst this may be true for some, choosing to work with an influencer agency can be an easy and simple solution.
Besides already having a good relationship with the Influencers, the agency will be able to support you in developing your own relationship. They will take care of contracts, communications and ensuring your influencer is involved in key events and marketing projects. And as experts in their field, they will know how to ensure your relationship continues to be mutually beneficial and a positive experience.
If your relationship does start to take a sour turn, having the agency on hand will also be helpful in not only resolving your issues, but starting to form new relationships. By working with their team, you can have peace of mind that you will always have the chance to start and develop positive relationships that help your campaign to be a marketing success.
5- Influencer Marketing Requires Big Budgets
When marketers think of the words 'influencer marketing' they often think, money - and lots of it. But whilst having a big budget will always help, it is not an essential.
The key to running a successful influencer campaign is not always securing the biggest and best name in the business. It's about working with the right influencer for your target audience. Once you have a clear understanding of who exactly you're trying to target, you may realise that there are plenty of other well-known bloggers, vloggers and Instagram stars that appeal to the right audience and for a lower fee. For example, there a thousands of micro influencers that have a dedicated network of followers who will not only be more susceptible to buying into to brand, but more within your budget.
If you know that working with influencers will be beneficial to your business but your budget is pain point, always speak to an influencer agency to see what you can do. With influencers working both nationally and internationally, there will always be an opportunity to create a partnership that suits your brand and budget.
6- Popularity Equals Value
One of the most common myths around influencer marketing is that the more followers they have, the better. An influencer can have millions of fans but without active engagement, and consequently, your campaign will benefit little from their involvement. This is perfectly illustrated through brands aligning with celebrities instead of influencers. As part of a social media marketing scheme, a celebrity will offer incredible range but little interaction. Consumers feel less likely to connect and chat with a celebrity and thus your brand will not bed into the fabric of your demographic.
Brands should focus on finding the right influencer to fit their niche. It doesn't matter if they don't have millions of followers, because instead they will stronger connections with a dedicated and active audience. For example, a micro influencer may only have a few thousand followers but because they message their community and engage with them, users are more likely to form a connection with the influencer. This trust can be used to drive conversions or sales.
Marketing myths go a long way to stunting brand development and growth in the online sphere. Break the trend and take advantage of this valuable social resource. This new medium is useful for small businesses and large corporations alike and can be tailored to fit your specific needs.
At Influencer Champions, we have over 15 years of experience of working with leading influencers from across the globe. For more information on how you can partner your brand with a top influencer, either call us now on 0203 9580 427 or email our dedicated team at firstname.lastname@example.org.