Influencer Marketing: Before talking to you about influencer marketing let us explain who an influencer is.
They are general people, it can be anyone, with a large following on the web and social media. Within any industry there are influential people, some will have hundreds of thousands (if not millions) of followers, and some will seem more like ordinary people and they may have an average of 20K-40K followers and less in some cases!
But the trick here is not in the number of followers, but instead their reputation, and their relationship with their followers. The better their relationship is with their followers the more likely they’ll affect the purchasing decision of their followers. And their following base usually depends on their niche, the topics they discuss, share and talk about, and how many people are interested in these topics, how active they are, the quality of their content, and what’s the value they add.
Now coming to influencer marketing?
It is basically a mixture of old and new marketing tools. When a brand or an agency uses a well-known figure that people look up to, or trust for a specific product or service to create a modern-day content-driven marketing campaign.
In the old days, these people used to be celebrities only, but now that some influencers might sometimes have a higher influential impact, it’s no longer tied to a celebrity figure.
However, in this marketing approach, the results of the campaigns are based on collaborations between brands and influencers. Which makes it a bit hard to analyze the results of the outcome.
What doesn’t work in Influencer Marketing?
- They just find a person with an audience, they offer them money or an exchange of interests so they can say good things about them. Without understanding if this influencer’s audience is similar to the brand’s targeted audience!
- Quick results! Companies think that oh, he has 10K followers, he will post and the 10K followers will see the post they’ll be interested in my brand, my sales will increase! That is not the case not in this type of marketing nor in any other type of marketing. It’s a slow-and-steady approach where your campaign isn’t about directly selling, It’s about demonstrating your authority and credibility within your industry. It’s about becoming a familiar name with whatever it is that you offer, like when people say: hand me a Kleenex instead of a tissue paper or am about to Hoover the floor, rather than vacuuming it.
- Stop looking at the popularity of the influencer. Influence does not only mean being popular. The main goal is to elicit a particular action from your customers. Don’t automatically assume that the people with the most followers are the influencers of a niche.
Like every coin, this approach also has two sides to it, both good and bad.
The Pros of Influencer Marketing?
It Helps You Reach a Relevant Audience:
- Collaborating with the right influencers for your brand can help you reach relevant audiences, similar to your target audience.
- But the trick in here is to carefully choose influencers who are relevant to your niche and industry. Finding influencers, who are mostly talking to that exact audience is more important than the reach.
- It takes time to build a real following base on social media, it’s more like the influencer needs to build their own trusted communities. And by tapping into these communities, brands can effectively attract potential new buyers.
It Helps You Build Trust and Credibility
- Trust takes time to develop with customers but people trust the influencers they follow. So, if an influencer talks positively about a brand, then their followers are more likely to believe them.
- Influencers attract customers with much longer lifetime value than customers you appeal to via other marketing channels. By this, you can build much more meaningful and longer relations by appealing to your customers via influencers.
It Broadens Your Brand’s Reach:
- You can reach thousands, even millions of the followers of influencers, whom you could not have reached on your own.
- Regardless of the social media platform you choose, influencers can help you add new potential customers to your basket.
- Consumers today consider influencers as people they can trust, and they really value the opinions of the influencers they follow.
Marketers Can Save Time:
- Brands don’t have to worry about creating great content.
- A good influencer knows the best ways to create content that can help them engage their followers. They know how to tailor content that best appeals to their followers.
- In fact, the content created individually by influencers tends to be more engaging than the content created by brands. And the content they create can make your brand look more trustworthy and authentic.
Avoiding Pushy Advertising
- Influencer marketing is an ad that doesn’t look like a paid commercial at all.
- Their content is not as pushy as a traditional ad, and, often, much better targeted.
- Influencers know their audience well, and, therefore, they are able to provide exactly the content they’re most likely to interact with.
Cons of Influencer Marketing?
1) Influencer marketing takes time to set up
- An influencer marketing campaign that serves its purpose takes time and effort to set up.
- You have to do your research and find an influencer that suits your brand, prepare terms and conditions of your cooperation, approve the content your influencer prepared.
2) Working with the Wrong Influencers Can Do More Harm than Good
- It takes a lot of time and effort for brands to find the right influencer for their campaigns. If you don’t collaborate with the right influencers, it can cause great damage to the reputation of your brand.
3) Influencer Marketing Mistakes Can Cost Your Brand
- Influencer marketing is still a relatively new strategy, so marketers are bound to make mistakes. Some common mistakes that influencers make, which can affect the brand, include:
- Not disclosing that a post is sponsored
- Posting content that does not resonate with their target audience
- Ignoring the Government guidelines
- Having fake followers and paid likes
4) The campaign might just not work
- It might do wonders for your business but it might also fail. In the meantime, your competitors could invest in a marketing channel that will bring more substantial results.
- That’s why every brand should diversify their marketing efforts. Apart from investing in influencer marketing only, explore other channels, for example, content marketing or community management.
- Secondly, and I cannot stress it enough; you should measure the results of your influencer marketing campaign. If you don’t see the desired results after a reasonable amount of time, you should
- If an influencer lacks the ability to create impressive content, they might fail to resonate with a brand’s target audience. In such cases, the time and money you invest will be in vain.
5) Tracking performance of influencer campaign
- Measuring the results of an influencer marketing campaign usually requires some additional tools. And you need to track the effects of a campaign; otherwise, you just repeat some activities without knowing whether they work or not.
- One way of tracking your online campaign is to create a dedicated hashtag for every influencer you work with. You’ll be able to track hashtag performance among different social media channels and:
- measure the social media reach of influencer content
- measure the number and type of social media interactions
- estimate the number of positive and negative mentions for each hashtag;
- spot the most active locations of your new audience
- It will help you know what type of content resonates best with your audience or which social media platform suits your business best.
6) Poor Influencer-Brand Relationships Can be Costly
Looking at influencer-brand partnerships as one-time transactions. Instead of looking beyond this and focusing on building strong relationships with your influencers. Doing so can help you get more from your campaigns as your influencers will be more invested in them and put in their best efforts.
Market to Influencers
- If a marketing team spends a portion of their time in marketing directly to influential people whose likes and dislikes are already clear – and they align well with the brand. In a sense, engaging with these people across social accounts, not just following and liking, but actually commenting and demonstrating knowledge and portraying the personality of the brand in these engagements, and it can also include creating content that’s tailored to get their attention. Brands think of capturing the influencer’s audience and they don’t market well to the influencer themselves.
By interacting in positive and constructive ways on influencers’ social pages:
- You gain early access to their followers.
- You’re not promoting anything to them; you’re showing your face as a member of their community.
- You are adding to your credibility down the line.
- Eventually, when you do propose some kind of influencer marketing collaboration, they’ll already know you.
Influencers aren’t celebrities, but their online life can look a lot like a famous person: lots of interruptions from people they don’t know, wanting a piece of their time. You need to be able to stand out from the noise of attention they get. This means that when you finally reach out to them, they’ll already know what you’re about, and they’ll know whether you’re a good fit for their audience.