Influencer marketing has emerged as the mainstay of digital marketing in the recent times. With close to 94 percent of marketing professionals recognizing its immense value and effectiveness, more companies are looking at increasing their influencer marketing budget. While the strategy helps build credibility, trust and encourages meaningful action, it is also a channel to connect at a deeper level on an ongoing basis with consumers.
Many brands such as Fashion Nova have leveraged influencer marketing strategies to grow phenomenally. By intensely focusing on influencer marketing on Instagram, Fashion Nova experienced 600 percent growth! While many get it right, there are some who make mistakes with the goal setting or in choosing the influencer.
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Avoiding these five most common mistakes is the key to stay on growth and success track:
1- Choosing the wrong influencer:
Many marketers choose an influencer based on the number of followers. While numbers do matter, an influencer with the maximum follower count is not automatically suited to the specific campaign. A person who has 30,000 followers may be better suited for your campaign as compared to someone with more than 10 lakh followers who may not be genuine! While selecting an influencer, review the tone, audience, comments, and posts to see whether he or she is the right fit for your campaign. At times a celebrity may be in the limelight for wrong reasons and using such influencers can be detrimental to brand interests. A case in point is when Ryan Lochte, the Olympic swimmer lied that he was robbed in Rio at gunpoint, four sponsors cancelled his influencer contract worth more than a million.
2- Not involving the influencer:
The second most common mistake marketers make, is to ignore the influencer’s judgement. Many marketers overpower the influencer by controlling every step of the campaign. It is important to design the campaign in collaboration with the influencer as he or she best know what their followers are likely to respond to.
3- Not setting clear goals:
Every campaign should have clearly set goals that are measurable. While for a start-up it could be to create and spread brand awareness, for an established business, it could be to drive conversions or ensure customer loyalty. Some marketers launch influencer campaigns without setting clear goals. They will not know what to measure and whether their campaign was successful. It is also not possible to assess the ROI of a campaign because there are no defined metrics. Clearly defining performance indicators such as views, reach, comments, clicks, shares, sale conversions, referrals and tags will help understand ROI so that you can optimize your marketing budget.
4- Not sharing posts:
Many brands make the mistake of not making any effort to boost the influencer’s post visibility. Boosting a post will help draw in a larger audience as many social media platforms like Facebook or Twitter do not show all posts to everyone. Sharing and tagging influencer’s posts will not only show your appreciation but also clarifies your brand’s connection with the influencer. Not declaring your brand’s relationship with your paid influencer is against the FTC (Federal Trade Commission) regulations.
5- Looking only at followers:
Many marketers make the mistake of thinking that the ultimate goal of influencer marketing is to get new followers. While getting more followers is important, it is not the only measure of success in influencer marketing. Actionable results are more crucial to the success of a campaign.
With competent influencer marketing platforms such as iFluenz.com, you can find an influencer who is aligned with your brand ethos. Thanks to this platform, you can also find the right influencer to suit your budget.