Defined as a promotional strategy that utilizes high-level individuals and organizations, influencer marketing is among the most common advertising strategies. Whether traditional or digital, this has proven effective in building interest in products and services. When trustworthy sources speak positively about their investments, they can persuade their audiences to learn more. This system is influencer marketing at work and at its best!
But what exactly makes an influencer and how can you collaborate with them to get the most out of your word-of-mouth marketing?
In this blog post, we will explore the importance of influencer marketing and break down some common misconceptions about influencers. We’ll also provide tips for creating an effective influencer marketing strategy to develop actionable steps for identifying the right influencers for your brand, creating engaging content, and measuring the success of your campaigns.
By the end of this blog, you’ll better understand how influencer marketing can help your brand expand its reach, increase credibility, and establish thought leadership within your field of expertise.
What is an influencer?
Multiple factors can define an influencer, but typically an effective influencer will possess three main qualities:
- They must be a well-known name with a sizable following. Remember that influencers can exist in all industries, from food and beverage to health and wellness and even sports and television.
- They must be highly regarded in their field, which allows them to build trust with their audiences. These are typically industry experts backed by educational credentials or documented learned experiences.
- They have to be capable of influencing (hence the name) the purchasing behaviors of their audiences.
While influencer marketing is not new, it has become increasingly popular as the world becomes more technologically advanced and brands strive to find new ways to reach their target audience. In fact, according to HubSpot, 92% of marketers believe that influencer marketing is an effective form of marketing.
With the increase in influencer marketing, there is also an increase in misconceptions regarding influencer marketing, which is why digital marketing companies must clear the air. What are some of the most common mistruths about influencer marketing and the real stories behind them? Here are a few key points to be aware of.
Common Influencer Marketing Misconceptions, Debunked!
- “Influencers purchase the audiences they have.”
It’s been said that influencers, mainly those active on social media, purchase the audiences they boast. As one may imagine, this is a misconception that masks the truth. In actuality, the most effective influencers are able to build their audiences over time. An aspiring artist will start with nothing on Instagram, for example, but can continually build their name on the platform. This can be done through posting their artwork, networking with fellow artists, and interacting with followers. To build a dedicated audience, influencers must put in the work over an extended period of time, which helps give influencer marketing efforts the potency they need.
- “The more followers an influencer has, the better.”
Another commonly touted myth is that the more followers an influencer has amassed, the more effective they’ll be when promoting products and services. A particular influencer may have millions of followers on Instagram or TikTok, but this doesn’t guarantee results. Many of these followers may need to be more regularly engaged; be mindful of uneven follower-to-activity ratios. Furthermore, the members of that audience may have varied interests, meaning that whatever an influencer promotes won’t necessarily pique their interest. For influencer marketing success, it may be more worthwhile to focus on micro-influencers, which are individuals that have comparatively less reach but more devoted audiences.
- “It costs too much to invest in influencer marketing.”
The priority of any business is its bottom line. In other words, their goal is to spend wisely. This is true when concerning influencer marketing, which many people believe is expensive. Depending on the influencer a business decides to partner with, there may be less overhead at the onset. Additionally, most influencers are multifaceted; they possess multiple skills ranging from writing to video editing and beyond. If an influencer’s rate appears steep, consider the value that you will receive. When these details are taken into account, influencer marketing is surprisingly affordable.
- “The results of influencer marketing are difficult to track.”
When carrying out any digital marketing endeavor, its effectiveness must be monitored. The same logic applies to influencer marketing, which can be tracked via different key performance indicators. These include, but aren’t limited to, return on investment (ROI), website visits, website purchases, and online engagement. By measuring these, companies will be able to determine the results of their influencer marketing campaigns. Additionally, several platforms exist to help keep track of KPIs so that results don’t have to be manually recorded. With different capabilities at one’s disposal, the success of influencer marketing can easily be tracked.
- “Influencer marketing is unneeded.”
Lastly, influencer marketing may be deemed an unnecessary expense. Keep in mind that influencers possess skills, tools, and access to audiences that most businesses often need more. As stated earlier, influencers boast sizable audiences to which these individuals can promote certain goods and services. They will be able to do this across all platforms, including Instagram, Pinterest, YouTube and Linkedin, though these platforms will vary based on the specific influencer. Granted, influencer marketing may not apply to all companies. But, when a solid strategy is built and the right influencers are reached out to, the potential of social media marketing becomes realized.
How to Create an Effective Influencer Marketing Strategy
To create an effective influencer marketing strategy that addresses emerging trends, consider the following tips:
- Identify the Right Influencers
With the rise of micro-influencers, it’s important to identify influencers who have a smaller but highly engaged audience that aligns with your brand’s target audience. In addition, look for influencers who have a genuine interest in your brand and can create authentic content that resonates with their followers.
- Focus on Authenticity and Transparency
With the increasing importance of authenticity and transparency in influencer marketing, working with transparent influencers about their partnerships and disclosing sponsored content is essential. Doing so can help build trust with their followers and increase the effectiveness of your campaigns.
- Create Engaging Content
To stand out in a crowded influencer marketing landscape, it’s important to create engaging content that captures the attention of your target audience. Consider using interactive content formats such as polls, quizzes, and live streams to increase engagement and drive conversions.
- Measure the Success of your Campaigns
With the increasing emphasis on data-driven marketing, it’s important to measure the success of your influencer marketing campaigns. Use metrics such as engagement rate, reach, and conversions to evaluate the effectiveness of your campaigns and make data-driven decisions for future campaigns.
- Stay Up-to-Date on Emerging Trends
With influencer marketing constantly evolving, it’s important to stay up-to-date on emerging trends and best practices. Follow industry blogs like the Influencer Marketing Hub and attend conferences to stay informed on the latest trends and strategies in influencer marketing. You can also use influencer marketing platforms like Tribe to help find influencers in your niche and manage the relationship on one platform.
By following these tips, you can create an effective influencer marketing strategy that addresses the emerging trends in influencer marketing and helps your brand expand its reach, increase credibility, and establish thought leadership within your field of expertise.
Inspiring Action
Influencer marketing has become an increasingly popular way for businesses to promote their products and services. By partnering with social media influencers who have large and engaged followings, companies can reach a wider audience and build credibility for their brand.
To create an effective influencer marketing strategy, it’s important to identify the right influencers, focus on authenticity and transparency, create engaging content, measure your campaigns’ success, and stay up-to-date on emerging trends. By following these tips and utilizing influencer marketing resources, businesses can ensure their digital marketing strategy stays ahead of the curve and succeeds in the ever-evolving marketing world.
Looking for some help with your strategy? Let’s chat! fishbat is a full-service digital marketing agency specializing in using influencer marketing to improve visibility, drive impact, and offer creative solutions to modern marketing challenges.
