Social media has become an integral part of our daily lives, and — whether we realize it or not — so have social media influencers.
An influencer can be anyone who has established credibility in a specific industry and has access to an audience that places their trust in them. Being able to work with influencers to promote a brand or company is a skill every chief marketing officer (CMO) should have.
Why It Works
These individuals play key roles in their followers’ perception of themselves, with the latter often using them to keep up with current trends and social expectations.
One report found an influencer’s content can subtly push their followers to mimic their lifestyle. This in turn increases their compulsion to buy endorsed products, as 71% of people are more likely to buy if it’s recommended by influencers they trust.
When it comes to creating marketing campaigns that utilize influencers, it is important to recognize the pros and cons that come with such high stakes marketing.
The Hidden Truth
As any chief marketing officer would know, working with influencers can be very beneficial for a company. On average, brands get $4.12 for every $1 spent on influencer campaigns on certain platforms like Instagram. That’s a lot of potential.
Other benefits include increased brand awareness, consumer feedback, better search engine optimization, and enriching the content about your brand.
Like all good things, there are downsides that companies should be aware of. If these are overlooked, it can have a devastating cost to both your brand’s reputation and pocketbook.
Here are five things CMO’s should keep in mind when researching influencer marketing campaigns.
- Tracking measurements like engagement and return on investment (ROI) is more difficult. While the influencers may help grow brand awareness and reputation, followers may not always respond through the post.
- Your reputation is at risk when working with influencers. This could be due to a factor of reasons such as poor feedback, miscommunications, or emerging creator controversies.
- Improper research could lead to brands and creators promoting to wrong audiences. This could also lead to discrepancies in engagement for sponsored posts.
- Bigger influencers have bigger risks, as one study found more popular influencers experience a stronger negative reaction to sponsored posts.
- Semi-lack of quality control for advertisements. Even if you give an influencer a proposed script or directions, the end result is completely in their hands.
When it comes to taking that step into influencer marketing campaigns, it can be tricky to pick the right influencers to promote your brand. Some professionals recommend seeking out micro-influencers first, as they have the highest engagement rates and are less likely to receive negative pushback.
Influencer marking is a high stakes game. Like any game, however, if you know what to avoid and what you are looking for in a collaboration, then it is worth that risk.
Sources: Dash.app, Sage Journal, Informs, Hypeauditor
