Defined as a promotional strategy that utilizes high-level individuals and organizations, influencer marketing is among the most common advertising strategies. Whether through traditional or digital means, this has proven effective in terms of building interest in products and services. When trustworthy sources speak positively about investments they’ve made, the audiences of said sources will be compelled to learn more. This is influencer marketing at work.
An influencer is defined by multiple factors. First, they must be a well-known name with a sizable following. Keep in mind that influencers can exist in different industries, including sports and television. Second, they must be highly regarded in their field, which allows them to build trust with their audiences. Third, they have to be capable of influencing, hence the name, the purchasing behaviors of their audiences.
Much like any topic on the internet, however, there is considerable misinformation floating around. There exists a bevy of misconceptions about influencer marketing, which is why it’s important for digital marketing companies to clear the air. What are some of the most common mistruths about influencer marketing, in addition to the real stories behind them? Here are a few key points to be aware of.
“Influencers purchase the audiences they have.” It’s been said that influencers, particularly those that are 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 myth that’s commonly touted 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, but this doesn’t mean that results are guaranteed. It’s possible that many of these followers aren’t 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 considerably 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, website traffic, website purchases, and online engagement as a whole. 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, influencer marketing can be tracked.
“Influencer marketing is unneeded.” Lastly, influencer marketing may be deemed an unnecessary expense. Keep in mind that influencers possess skills and tools that businesses lack. As stated earlier, influencers boast sizable audiences, which these individuals can promote certain goods and services to. They will be able to do this across all platforms, including Instagram, Twitter, and YouTube, though these platforms will vary based on the specific influencer. Granted, influencer marketing may not apply to all companies. However, it’s inaccurate to say that it’s unneeded. When a solid strategy is built, and the right influencers are reached out to, the potential of social media marketing becomes realized.
About fishbat: fishbat is a full-service New York social media agency. Utilizing the latest technologies and forward-thinking strategies, fishbat is able to create marketing plans that are tailor-made for specific needs and goals. The services that fishbat provides include, but aren’t limited to, social media management, search engine optimization, content marketing, email marketing, and branding. With these, businesses will be able to market directly to their audiences, increasing traffic, engagement, and ultimately, revenue.