“ Nearly 40% of twitter users say they have made purchases as a direct result of a tweet as an influencer”
What is this term called that influences people when making some purchase related decisions? The term we generally know as Influencer marketing! Influencer marketing is when companies collaborate with the influencers in order to increase brand awareness or conversions among the selected target audience. It is actually a mixture of old and new marketing tools, taking the idea of the celebrity formalization and placing it into a modern day content marketing campaign.
The main differences arises is the result of campaigns, that are usually collaborations between the brands and the influencers. About 73% of marketers claim that they have allocated budget for influencer marketing.
The aim of influencer marketing is to identify influencers in the respective field and make them work for the company by promoting their brand and raising the brand value. It is basically a linkage between social media marketing and content marketing, but is not supposed to be mixed with social media marketing! Influencers, unlike celebrities, can be anywhere. They can be anyone. What makes them influential is their large followings on the web and social media. Within any industry, there are influential people, there is a requirement of an eye to find them.
They are easily recognized by their hundreds of thousands (if not millions) of followers, and that’s the target audience you’re after. Influencers are people who’ve spent time building their own brand and cultivating their audience; they will be naturally protective of their reputation and the people who trust them. They’re people who had the patience and focus to succeed in social media, one organic follower at a time—people like this aren’t interested in a quick payout.
Influencer marketing has taken a good growth in the recent times! India has plenty of risk averse people, that are ready to raise their brand value to a certain level. Influencer marketing is growing rapidly and one must have heard about the advantages of word of mouth marketing. We can finally say that the Indian companies are tapping into the world of influencer marketing, raising the bars of growth. Being risk averse, Indian consumers are increasingly relying on influencers and word-of-mouth to decide on their purchases.
This should be seen as an opportunity to influence the available influencers to encourage more sales through any online platform. To be able to leverage on influencer marketing there is a need of the form of reassurance for consumers that would definitely bring positive impact on the brand’s ROI.
Influencer marketing is like knitting a needle in the thread, seems easy but is not everyone’s cup of tea! What are the causes that make it difficult are the mistakes made by the companies in influencer marketing.
Common mistakes in influencer marketing:
Confusing influencer marketing for celebrity endorsements
Celebrities are only one type of influencers that a person may want to influence. Besides them, building relationships with micro-influencers and brand visuals, tapping into the power of brand advocates and even insighting opportunities with unhappy customers all of these represent powerful influencer marketing venues. An Expert survey of about 6,000 internet users found out that approximately 82% of them were highly likely to follow a recommendation made by an influencer. According to observations influencer marketing campaigns run through celebrities but the activation of 30 to 40 micro-influencers can result in even more business. So, do not mess up influencer marketing of a tweet by a tv star!
Prioritizing influencer’s reach
Much has been said and written, yet the newbies tend to prioritize the number of followers above anything. If a person is looking to simply broadcast a marketing message, creating brand awareness, then the reach may be important. If a person is looking for the influencer marketing campaign to result in an action like form submission, newsletter sign-up, sale, etc then pick the partners based on engagement value.
Failing to police influencer compliance with FTC’s rules
2016 was marked with numerous cases when the US Federal Trade Commission went after advertisers whose influence or marketing efforts didn’t pass at transparency. By the end of the year, two advocacy groups filed a complaint (PDF) with the FTC, requesting action against big companies like Disney and Google causing child-directed influencer marketing.
Lacking a detailed campaign plan
Before a person conducts social media outreach and start working with an influencer, one needs to find a clear vision of the campaign in question. Be determined, set measurable and achievable goals, and list the main points to consider. Having a detailed plan will give the campaign a vital dose of purpose and navigation, and ensure that both the company and the influencer can work together towards achieving a goal instead of just posting aimlessly.
Making the collaboration a one time deal
Just because one campaign ended according to the expectations, one cannot guarantee that some other influencer would be the right fit and help in achieving the goals again. When an influencer is found that fits all the criteria and perfectly promotes the business then the focus is on establishing a long-term relationship. Future influencer campaigns may feel more natural as they may understand the brand.
Not putting measurement mechanisms in place
When measuring the influencer marketing campaign, one needs to keep the goals as a priority. Generically, the goals will fall into one of the three stages of the marketing funnel- awareness, consideration and action. Set effective goals within these phases of the funnel and measure your attainment of them by analyzing relevant areas of interest.
Influencer campaigns can work effectively for brands and businesses when run with complete efforts. It’s vital to avoid the common pitfalls that can prevent you from achieving your desired results. Once you know how to avoid them, you have successfully achieved the aim of influencer marketing and henceforth achieved your goals!