The Influencer Marketing industry is set to grow to approximately $16.4 Billion in 2022. By now, many brands have experimented with Influencer Marketing in some way, with many planning to increase their Influencer Marketing spend this year. This continued growth is proof that Influencer Marketing is here to stay. In fact, 49% of consumers depend on influencer recommendations, 40% of which had purchased something after seeing it on Twitter, YouTube, or Instagram. Pretty incredible, isn’t it?
With the industry growing ever more competitive, your Influencer Marketing strategy needs to stand out. If you haven’t had the success you’ve imagined, or are simply looking for ways to maximize your approach, we’ve outlined the most common Influencer Marketing mistakes we see below, along with a few ways to fix them.
- Mistake: prioritizing reach over relevance
While there’s been no shortage of conversations on the topic, we are often still confronted with the outdated notion that reach reigns supreme. While it is certainly an important consideration, and may be true in some cases, partnering with influencers strictly based on their follower count, reach, and/or impression metrics overlook the most fruitful benefits of influencer marketing – leveraging the right voice to reach and influence the right audience. While many Influencer Marketing agencies and brands have started paying attention to engagement metrics, it’s only the tip of the iceberg. Above all else, the most important thing is that we’re reaching the right audience, and that the selected influencer will have the credibility and trust to deliver a persuasive testimonial.How to fix it: set clear casting criteria at the outset of the program that considers not only reach and engagement metrics, but more importantly, content relevance, engagement quality, and influencer persuasiveness. Ask the question: does our brand/product integrate naturally and authentically into this influencers content and conversation? Does this influencer and their audience engage in meaningful ways together?Pick the right influencer no matter how big or small their reach is because after all, it’s better to inspire action among fewer of the right potential customers, than to reach more of the wrong ones.
- Mistake: treating Influencer Marketing like Advertising
The power of word-of-mouth is no secret. When someone we know and trust recommends a product or service, it holds significantly more weight than any other type of advertising message or medium. This is why Influencer Marketing has thrived – it is word-of-mouth on steroids.Too often we see Marketing Departments treat Influencer Marketing like just another advertising channel – mandating overly prescribed briefs that limit creativity, replacing the Influencer’s tone of voice with strict brand language, forgoing personalization and authenticity for a one-size fits all approach, and comparing metrics of success against traditional advertising benchmarks.Successful influencers have an authentic voice that their audience trusts, and they have built strong and meaningful connections with their followers. When we impose too strict of guidelines, edit out personalization, and measure the wrong things, we cripple the very thing we set out to do: tap into the influencer’s credibility, authenticity, and trust to deliver powerful testimonials and referrals that inspire action.
How to fix it: collaborate, don’t mandate. Look for influencers where your brand, product, or service fits seamlessly into their area of expertise, interest, or story, and work with them in authentic and relatable ways to balance brand messaging with their voice and experience.
- Mistake: limiting your Influencer Marketing strategies to “product-in-post”
When you think of Influencer Marketing, what comes to mind? Likely, it’s paying an influencer to post about your product on their social media channels. While this may be the most common application, we see lots of agencies and brands fall into the trap of plug and play influencer programs that frankly, miss the mark.There are a multitude of ways to collaborate, engage, and benefit from the power of Influencer Marketing. Everything from collaborations and integrations to meet and greets, takeovers, and mailers can bring fresh and exciting ways to attract attention and inspire audiences.How to fix it: go back to the drawing board. Take the time during strategy planning to understand your goals and objectives: is it to raise awareness? drive in-person participation? maximize product trial? reignite brand interest? educate your audience? Having a clear understanding of your priorities will help your team and agency come to the table with Influencer Marketing strategies that will really move the needle.
- Mistake: not experimenting with verticals
Ensuring your influencers and their content are relevant to your brand, product, and/or service is a given. But when we focus too narrowly on one specific category, we can miss untapped markets that have the potential to change the game for your brand.Maybe you’re a cheese alternative. In this case, Influencers who are vegans, vegetarians, flexitarians, and even more broad health and wellness categories are the obvious choice. But what if we were to partner with a meat-loving traditionalist and convert them into a cheese alternative fanatic? Or a wine enthusiast who’s uncovered unprecedented wine and cheese alternative pairings? Then, we have the potential to reveal remarkable testimonials and reach new potential consumers that may grow your business in ways you never imagined.How to fix it: don’t be afraid to try new things. Step outside your comfort zone and mix up your influencer cast. Start small to test the market and analyze the results on an ongoing basis to refine and optimize your strategy as you go.
- Mistake: thinking sales is the only, or even priority, measure of success
At the end of day, every company needs to drive sales. That’s really what we’re all doing here. And while Influencer Marketing contributes to positive sales growth, it’s so much more than that.Maybe you’re on a journey to rebuild your brand reputation, fall within a product category that requires more in-depth education to build familiarity, or have a sizeable price point and need to remain top-of-mind for when it’s time to buy. Even if your influencer content doesn’t drive immediate, trackable sales, it is contributing to critical areas of your business growth and success.How to fix it: see the big picture. The path to purchase is complex. Understanding the value that influencer marketing can bring to many facets of your business and embracing the right measures of success – such as awareness, consideration, clout, web traffic, and engagement – can help build some of the most impactful, inspiring, and rewarding programs. After all, the metrics shared at the beginning of this blog post speak volumes for the power of Influencer Marketing. Have faith in the process.
And while you’re at it, make sure you set and define clear goals at the outset of the program. Not only will your goals inform your strategy, cast, and content, it will provide a critical benchmark to measure, analyze, and pivot real-time.
- Mistake: underestimating the power of relationships
We often see brands take a one-and-done approach to Influencer Marketing, launching one-off campaigns and cutting down all lines of communication once the program has wrapped. The most successful Influencer programs, however, maintain Influencer activity on an ongoing basis.The focus should be on building lasting Influencer relationships. Not only does this create invaluable, loyal brand supporters, it also increases consumer trust – the more a consumer sees a positive testimonial from an influencer, the more authentic that testimonial becomes.How to fix it: build relationships, not transactions. Develop your strategy to work with influencers on a monthly or quarterly basis to ensure a steady stream of content, and engage with your Influencers outside the scope your contract. Comment on their posts. Celebrate their milestones. Support their causes. Treat them like you would any other important relationship and they will become powerful brand advocates.
If you’re struggling to find an Influencer Marketing approach that really moves the needle, we happen to know a pretty awesome agency who can help 😉. Let’s chat!
Until next time,
Your friends at atomic