Since the internet started out and began the social media frenzy that is now known as influencer marketing, there have been countless rumors about it that spike fear in the hearts of fellow marketers. This decades-old fear-mongering has caused distrust and general dislike for the existence and functions of influencer marketing. However, many studies have shown that these rumors are untrue and actually cause a disservice to brands because of the power that influencer marketing holds for the future of e-commerce.?�
As such, let�??s deep dive into debunking some of the common myths about influencer marketing to help brands like yourself better understand this unique time in marketing:
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Myth 1: Influencer marketing is all about reach
Contrary to popular belief, reach is not the most important aspect when it comes to social media and influencer marketing. The number of people who view your influencer marketing campaign does not directly translate into consumers, meaning the conversion rate does not depend on reach alone. While it is necessary to have a wider net to reel in more fish, it is also vital to look into which pond or ocean the net is being casted at. This is similar to how a celebrity endorsement does not guarantee an increase in sales just because of their large fanbase.
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A better measurement to take into consideration is relevancy and how the chosen influencers relate to your brand. To elaborate, it would be a poor decision to band together with influencers whose niches do not align with your brand�??s products and values. Imagine working with a non-vegan influencer to promote your line of vegan products, would the partnership be convincing, and would their followers be interested? Some of the questions you can ask yourselves are how will each influencer collaboration can help achieve the objectives of the brand�??s influencer marketing campaign. Another way is looking at the return on investment (ROI) the influencer partnerships can bring and does it tally; or does it stack up against each other.
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Myth 2: Influencer marketing is dangerous
The reliability of this latest form of internet marketing might seem daunting, but that could not be further from the truth. The factors that make it seem risky to have various measures and solutions that can be taken to put brands at ease. For example, to combat the problem of buying fake followers by influencers, brands could easily look up the engagement rates of these profiles to ensure public interactions are at an ideal level. Similarly, brands are also able to vet the influencers�?? sponsored content for these marketing partnerships before it gets posted to ensure it meets the brand�??s requirements.?�
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The old ways of marketing are not going anywhere, but it is crucial to stay with the times and take advantage of the opportunities presented through influencer marketing. As mentioned previously, influencer marketing takes the best aspect of social media marketing and refines it with more accurate targeting to deliver better results. Brands would fare better by choosing to partner with nano and micro-influencers to get this desired effect. Celebrities and mega influencers have a more diverse audience with a wider range of interests and niches, hence making the estimated return on investment (ROI) lower and more saturated.
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Myth 3: Influencer marketing can be done in-house
Unless you have an office of staff members with nothing much to do for work, it would be wiser to leave the management of influencer campaigns to companies with the experience and capabilities necessary to take charge. It is one matter to partner with only a handful of influencers for a marketing campaign, but it is a completely different ball game if you are working with a large number of them. This is due to the fact that influencer marketing campaigns require just as much manpower, skills, and patience as any other marketing project; if not more.
Simply put, each influencer marketing campaign is as unique as the internet star that you are looking for, meaning there is no one template that can be used for everyone. Sourcing suitable influencers that meet the objectives of the marketing campaign is time-consuming and requires special tools. The requirements and campaign brief are also flexible and open to alterations following multiple discussions from both parties. There also has to be a team to vet and approve the influencers�?? content before its release, as well as to analyze the statistics afterward. All in all, this takes months of work to reach the finish line.
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Myth 4: Influencer marketing is expensive
The expensiveness of influencer marketing is typically the first roadblock that brands encounter when deciding to integrate it as part of their overall marketing strategy. However, similar to other business deals, this can be easily resolved through negotiations and compromises with the chosen influencers. The rates for each influencer greatly vary depending on the type of content, the size of the influencers' base, the quality of the audience, and the duration of the collaboration. Each of these factors plays a role in determining the cost of the partnership to the brand, so it is important to prioritize the ones that matter.?�
While this form of marketing is still relatively new, it should not be mistaken for a fad or cheaper alternative to traditional marketing. Influencer marketing closely resembles the traditional ways through its position as an investment opportunity. If you put in the right amount of time and effort, then things will work themselves out. In other words, influencer marketing should not be thought of as a one-time partnership that delivers immediate results, rather it requires frequent and repeated cultivation to build a strong presence. As such, collaborating with nano and micro-influencers would be more beneficial to the brand in the long run.
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To recap, influencer marketing relies on relevancy between the content and the influencer�??s niche, has multiple measures in place to ward off �??dangerous�?� partnerships, requires large amounts of time and manpower, and is only as expensive as the brand wants it to be. Brands have the power of maneuvering the situation to a more beneficial agreement for everyone involved. If you�??re still unsure about the potential success that influencer marketing offers or would like to clear more doubts in mind, kindly reach out to us and we�??ll set you on the right track to making the best of this exciting occasion in marketing history!
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At Partipost, we�??ve made it our mission to figure out all the right strategies and sweet spots for your brand when it comes to influencer marketing. Since our beginnings in Singapore 2016, we�??ve partnered with hundreds of brands across Southeast Asia to create influencer campaigns that lead to real results by humanizing your brand with the power of everyday people�??s word-of-mouth. We would love to partner with your brand! Leave us your details here and experience the Partipost difference in no time!