According to wearesocial.com, there are over 3.80 billion social media users all over the world in January 2020 alone. With that number, 68% admit to checking Facebook regularly, and approximately 500 million social media users claim to be active on Instagram. Knowing those facts, it’s no wonder why many businesses are leaning into incorporating influencer marketing into their digital marketing strategies.
Influencer marketing takes the idea of having “influential” people with a substantial amount of social media following to promote a company’s brand. They can mention your brand or services either in one of their social media posts or videos. The goal is to encourage people to buy your products or services to increase sales.
But like any other marketing strategy, influencer marketing comes with its own set of challenges. If you’re in the early stages of planning for influencer marketing in your business, here are four of the biggest challenges you should know about and how you can overcome them:
1. Finding the Right Influencers
There are virtually hundreds and thousands of influencers out there. But, you may be surprised to know that 67% of marketers consider that task of finding the right influencer the most challenging one. In influencer marketing, it’s vital to find the right person that will deliver your brand’s message clearly to your target audience. Otherwise, you could lose a lot of money, or worse, ruin your brand’s reputation.
One way to overcome this challenge is to find influencers whose social media following aligns with your target audience’s demographics. From there, carefully vet through their content, as well. Ideally, they should have the experience of promoting the products that are similar to yours in the past. High engagement rates are also crucial in finding the right influencer for your brand, especially now that influencer fraud is also highly rampant.
To make the process simpler, entrepreneurs can also employ the help of influencer marketing agencies. These companies have a lot of experience in the field and can guarantee that you’ll have the right influencer to market your product or services.
2. Landing a Partnership with the Right Influencer
Once you find the right influencer, the next challenge you’ll face is how to get the influencer to agree to promote your brand. The best influencers on your list probably have a significant number of partnerships lined up, too, and most are highly selective in the type of collaborations they accept.
When approaching an influencer to help market your business, don’t automatically think they will accept your proposal. You also have to make an effort to pitch your offer in a way that will make the brand partnership brand enticing and hard to resist. Monetary compensation is a given, but try adding in a little bit of this and that to your offer. For instance, you can include perks like discounts from partner brands (if you have some), trips, or VIP access to exclusive events. Don’t forget to smile and be friendly. Trust me. It will go a long way.
3. Incorporating Sincerity into the Brand
With the increasing saturation of influencers, there is also the challenge of brand promotions that lack a personal touch. When the influencer’s following starts noticing this, it will eventually lead to negative opinions about the influencer and the brand that they are promoting. Marketers looking to incorporate influencer marketing into their strategy should be smart in every step they take. If they plan on marketing the brand using influencer marketing, they have to integrate sincerity and trust. People are more likely to trust a brand with an authentic back story.
One way to do this is to choose micro-influencers rather than aim to collaborate with high-profile celebrities. Micro-influencers are people with 1,000 to 100,000 followers on social media. By encouraging low-profile people to market your brand, the audience will get the idea that the brand is actually making a difference in an average person’s life. It will stir their curiosity, and before you know it, your brand eventually will get the attention that it deserves.
4. Measuring the Results
Finally, marketers also face the challenge of how they can measure the results of their effort. With influencer marketing, it can be hard to see the results because there is no way to tell if the people visiting your website were actually a result of the marketing strategy. Fortunately, many have found effective ways to combat this challenge.
Discount codes and coupons that influencers give out in their content are the most popular influencer marketing strategy that companies – both big and small – use. It goes more than just attracting people to purchase in the business. These coupons will also help marketers gauge how many people were converted into customers because of influencer marketing. Other strategies like click-through and asking influencers to post your website’s link on their bio or blog also works. However, it will probably cost you more if you choose the latter.
Influencer Marketing: The Takeaway
Without a doubt, influencer marketing can be a great way to market your brand noticed by the public. However, it’s also worth noting that it comes with its set of challenges with a few of the most common ones mentioned above. If you’re planning to use influencer marketing for your business, don’t let these challenges hold you back. By learning the strategies, you can easily overcome these hurdles, and your company will eventually see an improvement in your bottom line.