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Influencer marketing usually goes one of two ways: it either leads to glowing results when returns fluctuate, or it leads to epic failures that take months, if not years, for the company to recover. As a digital marketing entrepreneur, I've dealt with both outcomes in the front row pretty often.
A 2019 survey found that in the year that around 17% of companies surveyed planned to spend 50% of their marketing budget on influencers in 2020.
The numbers don't lie, there is certainly a positive ROI trend that comes with influencer marketing and 90% of marketers find influencer marketing results to be better than or comparable to most other marketing channels. However, the problem arises when influencer marketing is done incorrectly.
Related: 4 Influencer Marketing Secrets Business Owners Must Know
The mere fact that this marketing system depends on the viral nature of social media content means that a bad job can very easily destroy a brand's image at astonishing speed. These tips are designed to help marketers get it right with influencer marketing.
Outline your campaign goals
Your campaign goals are the clearest guidelines you can create when investing in influencer marketing. Your campaign goal can be to gain brand awareness, gain social media followers, create content, app sales / downloads, or newsletter / email subscribers.
For example, if your goal is content creation, then going with an influencer with great content will be far more beneficial. Design skills, photography skills, this is better than settling for average or poor content influencers as you will be seduced by their seemingly wide reach. The reason is simple; Users judge your content based on the content that is regularly published on the platform on which it is advertised.
For example, if your goal is brand awareness, reach becomes a very important metric. However, how you define reach and how to identify relevant reach is a completely different conversation that you need to be able to choose the right influencer.
Choose the right influencer
Kendall Jenner's Pepsi Partnership ad in 2017 was an epic failure and highlights some of the mistakes marketers make. The ad sought to promote diversity by showcasing Pepsi as a symbol of diversity and by supporting the BLM movement.
Her choice of Kendall, a white woman as the heroine of her ad, rightly angered many people and prompted Pepsi to remove the ad with apologies. There's absolutely nothing wrong with Kendall, she just wasn't the right fit.
The most important metrics that you need to consider when choosing an influencer are reach, engagement rate, relevance, authenticity, content quality, content frequency, reliability, audience quality and the values of the influencer.
Reach speaks to the size of the audience the influencer has in relation to their followers, but the power of an influencer's reach is qualified by their engagement rate.
Related Topics: How Influencer Marketing Took Power and What the Future Leads to
A typical formula for calculating engagement rate is to collect at least 10 posts, count the likes, shares, and comments for each, divide the total by the number of followers and multiply by 100. The average 10+ post percentage is the likely engagement rate and can help you decide whether or not the reach is big enough for you.
An influencer's relevance and values are possibly one of the most important metrics to consider regardless of your campaign goals.
In the words of Alex Smetana, an Instagram influencer and marketing expert, it would be better to say, “As bad as it would be for a vegan influencer to endorse your meat product, influencers and brands should make sure their values match, or a massive one Taking risks Misunderstandings that lead nowhere "
An ideal influencer is one who is perceived as an expert in a relevant niche, who has built trust and loyalty among his followers and, above all, one who engages with his followers for answers and reactions.
Avoid influencer scams
Many new marketers to influencer marketing are unaware of the rampant fraud that has been holding back the influencer marketing industry. Influencer fraud is so subtle that, in Alex Smetena's words, "It shows a semblance of success, excites you with noise, but doesn't give any real results".
Many of the smaller brands that use influencer marketing can't afford to run celebrity class ads. These small brands need to find relevant and lesser-known influencers who have enough reach and authenticity to achieve their campaign goals. This has resulted in many marketers encountering influencer scams and massively ineffective campaigns.
Avoiding such situations is the key to success in this area. One of the best ways to stay away from influencer fraud is to find out why the influencer is following. If the influencer has very few posts compared to their followers, that's already a red flag. If the engagement rate is very low, this is also a warning sign.
Influencer platforms like Buzzsumo, Pitchbox, and Ninja Outreach have also become a salvation for most marketers. These platforms work like "matchmaking" pages where marketers can meet influencers by specifically searching for the categories and features they want.
Many of these platforms perform their due diligence, thereby reducing the potential for fraud. While some of these platforms fail to achieve their full potential, it is sure to shorten the list for you and help you decide more clearly.
Make realistic offers
In 2018, Sunny Co Clothing launched an Instagram marketing campaign to promote The Pamela swimsuit edition on the Baywatch theme. Their promotional offer promised swimsuits to anyone who reposted and tagged their grip in the first 24 hours. They didn't expect the ad to go viral in a few hours with over 30,000 subscribers!
Needless to say, they couldn't endorse their offer. They withdrew it, stating that they had the right to limit the offer. This resulted in what can rightly be defined as a marketing disaster for the brand, as customers raved and ridiculed many.
While this was not an influencer marketing campaign, brands have been known to make offers through influencers when promoting via influencer marketing. Avoiding such events is mandatory as they can damage your brand and limit your impact on future campaigns. It is safer to keep promises you can keep.
Influencer marketing may be the new fad, but like any glowing item, it shouldn't be rated at face value, rather it should be tested, scrutinized, and rated before a brand gets involved. New businesses have died on these streets, there is no reason not to be careful.