Brands are continuing to see the value in influencer marketing.
In Linquia’s State of Influencer Marketing 2018 survey, 86% of respondents said they used influencer marketing in 2017, and 92% of them found it effective. More than a third – 39% – of those surveyed planned to increase their budget for influencers in 2018. The market was estimated to be worth $2 billion last year and projected to rise to $10 billion by 2020.
And yet, many misconceptions about influencer marketing still crop up. Let’s debunk some of the most persistent myths.
There’s no way to measure ROI.
Influencer marketing efforts vary wildly, depending on the brand, the audience and the medium. But all well-run campaigns have a common thread: they set clear goals, and they track key metrics to measure their success. An influencer campaign that doesn’t take these two steps is not worth the investment.
At MtoM, we meticulously plan our clients’ influencer marketing campaigns. We define what we want to achieve, we find the ideal influencers for the project and we measure our outcomes – from reach and engagement, to clicks and conversion.
The best influencers are the biggest names.
An effective influencer campaign does not require a famous face or a massive following. While there are brands that have forged valuable partnerships with big celebrities, there are plenty of others that have reached their goals with influencers who aren’t necessarily household names.
The most important question to ask when selecting influencers isn’t, “How famous are they?” but instead, “Are they right for my audience and my objectives?” Often, it’s more helpful to work with micro-influencers – bloggers and social media users who occupy a certain niche – who have a more modest, but hyper-engaged, following.
Traditional marketing is better.
What exactly is “traditional” marketing? Facebook, Instagram, Pinterest, YouTube – these are all relatively new additions to the marketing landscape. Should everyone focus only on direct mail, TV and billboard campaigns because they’re more traditional? Marketing is rapidly changing, and smart marketers evolve with the times and aren’t afraid to try new things.
Audiences, too, are not static. And the way people consume information, source recommendations and make buying decisions has changed. They’ve gotten savvier and more skeptical, especially younger generations, and the hard sell just doesn’t work anymore. But they do value relationships, and they trust the opinions of influencers who have earned it. When brands are able to partner with these influencers in a transparent and genuine way, they can create content that is interesting and beneficial to their followers. That kind of human connection can’t be faked or rushed.
Influencer marketing is not just a flash in the pan; it should be part of every brand’s long-term strategy.
Learn more about MtoM’s influencer marketing approach.