Nowadays, it is harder than ever to convince customers to buy your product just with traditional marketing strategies, because everyone will first do an internet search about the product they are considering to buy. In the age of social media and excessive social interactions, other users’ opinions are taken into account and decisions to buy – or not buy – a product are made accordingly. Therefore, companies and advertising agencies now put a lot of emphasis on influencer marketing.
A study by Linqia at the end of 2017 showed that 39% of marketers were planning to increase their budget on influencer marketing. All in all, this modern type of marketing has proven to be useful for companies. However, one needs to be careful when implementing this type of marketing campaigns because this mehod does have its own peculiarities.
3 Things to Consider When Doing Influencer Marketing
Influencer marketing can be complex. Before implementing an influencer marketing campaign for a product, there are many aspects companies should be concerned about. One of these is the type of influencer they consider hiring. As different type of influencers play different roles in the endorsement of a product, both advertising agencies and companies should first decide what type of influencer matches the nature of the product itself.
There can be influencers with different personas: the mother, the yoga teacher, the freelancer, etc – and it is ultimately your job to decide which type of influencer is best for the endorsement of, for instance, the smoothie you are producing. Because in the end, the role that a “mother” influencer could probably take on an endorsement of that product is very different than the one a yoga teacher could take. Therefore, before implementing a marketing strategy, companies should evaluate the characteristics of the required influencer carefully, because this general rule of marketing applies here too: letting a random person be the face of your product is a risk, and every company prefers to eliminate as much risk as possible.
A second peculiarity of influencer marketing to watch out for is the ratio of the engagement to social reach. One would tend to think that when a marketing campaign is being conducted with an influencer, the bigger the audience he has, the better profits will be. Yet, this relationship is not always linear, and follower counts do not necessarily translate to the level of engagement you will get. For instance, when an influencer that has 500,000 followers, it does not necessarily mean that all of the 500,000 people will show any interest in your product at all when s/he endorses it.
However, when someone with a smaller audience is selected – for example 25,000 followers – it will probably turn out that this person is more connected with her or his audience and vice versa. These followers would then likely show greater interest in the product endorsed by this influencer whom they have a more of a real connection with. Thus, great social reach does not always translate to immediate results in sales. Before starting a campaign, one should always consider alternative scenarios as well.
Another aspect of influencer marketing that companies need to deal with is how long the actually process takes. When an advertising agency needs to implement an influencer marketing campaign, it usually takes a longer time than when other types of strategies are put in place. For those that have no experience of working with an agency to implement influencer marketing, having an influencer post a photo of a product might not look like much of a big deal. It is however important to understand that carelessness might result in actually hurting your product in the long term. That is why the process takes longer when advertising agencies are involved and why companies then also have to deal with reports, metrics, measurements, and various analyses until decisions are made. Careful analysis and reporting are essential tools for boosting the growth of the companies.
All in all, all companies the above considerations should be taken into account when making use of influencer marketing, and it is important that the whole process should be planned thoroughly.
“As BGA Partners, we pay great attention to the process of influencer marketing campaigns we execute as we are aware of the challenges otherwise there may be. Therefore we consider each possibility and factor carefully for you before and during the process. With your influencer marketing campaigns carefully planned by us, we are positive that your brand will shine out in the digital world and get the success it deserves.”