Influencer marketing is all set to become a billion dollar market with increasing number of brands and businesses gaining commendable benefits. As you navigate through the digital world, you will come to know that social media is experiencing a rage. Moreover, influencers are leading the bandwagon with constantly increasing number of followers and subscribers.
Despite of all the benefits influencer marketing is throwing at the business world, there are people who are still holding on a back seat because they feel afraid to take the plunge of integrating influencers to their brand marketing campaign.
Here are the 5 digital marketing myths that need to be exposed so that you can attain the ability to leverage your knowledge and explore endless possibilities in the present day influencer marketing world.
Myth #1: Influencer Marketing is Expensive
Do you really think influencer marketing is expensive? Remember investing for marketing and promotion of your brand through various offline and online strategies. How much have you spent until date? How much have you earned in response? Make a thoughtful analysis and calculation to understand all the aspects of brand promotion. Now consider marketing your products or services through social media influencers with large number of followers and subscribers on important channels like YouTube, SnapChat, and Instagram. Now consider the level of engagement it beholds. Of course, with high level of engagement there are possibilities of high lead generation, high sales, increased brand awareness, and improved brand credibility.
To add more to the understanding, in the recent times Buffer has added more dimension to social media statistics. Buffer is software designed especially for businesses to manage accounts across various social media platforms. As of today, it reveals the cost of influencer marketing across different platforms like:
- Facebook: $25 per post, per 1000 followers
- Instagrams: $10 a post, per 1000 followers
- Twitter: $2 per post, per 1000 followers
- YouTube: $20 a video, per 1000 subscribers
- SnapChat: $10 per post, per 1000 followers
Do you really think this cost is expensive when you are able to get a strong ROI (Return on Investment) while generating a revenue of around $6.50 for each investment of $1. To state in clear word, in the fast pacing world of today influencer marketing is the most cost-effective solution to digital marketing.
Myth #2: Influencer Marketing has High Risk Acquisitions
Of course the risk of placing your ads on an unsuitable and inappropriate channel on YouTube can prove to be risky while taking a toll on brand reputation. However, if you go down the timeline when the first ad was generated on YouTube with more than 2 million views, you will come to realize that the benefits outweigh the risk. Where do you find success without failure? Where do you find returns without investment? If not, then how can you accept to enjoy success without taking a risk? Play safe and smart, this in turn is certainly going to take you to new heights while letting you explore new dimensions of success.
Myth #3: Influencer Marketing Fails to Compete with Traditional Marketing
Digital marketing has changed over a period of time with constantly approaching marketing concepts that are new and entertaining. ‘New’ has always become the trend here and the innovation of the current era is influencer marketing.
The traditional means of digital marketing are purely intrusive and restricted to a couple of ad forms like banner advertisements. Rather people have started to like and follow people who have maximum number of likes and followers. This is because these people master the art of audience engagement while inviting interest of their respective content on social media. This is why brands and businesses have shifted to top online influencers for the impact they leave on their respective audience base.
Myth #4: It is Hard to Find Influencers
To be honest it is not hard to find influencers but a bit challenging to find the right influencer for your type of business and marketing goals. However, technology goes far beyond all the restricted parameters of search and gives us ample of options in the form of influencer search tools with a vast database of contacts within billion social accounts: Some of the popular amongst them are:
- Afluencer
- Heepsy
- Klear
- BuzzSumo
- Socialbakers
- Onalytica
- HYPR
If you are all set to integrate the right influencer for your marketing campaign, then go with the tool that makes all judgment on the basis of chosen data. This in turn will help to create customized marketing strategies while resonating their audience, extracting engagement from their social media channel, and eventually stimulating a persuasive experience. Every search can prove fruitful, meaningful, and rewarding using any specific user-friendly and system-friendly influencer tool.
Myth #5: It is Impossible to Measure the ROI of Influencer Marketing
ROI is the edge of any advertising campaign as it defines the success attained or the measurable success. Agree it is a challenge to actually do actually go into influencer analysis of each and every aspect of your marketing campaign. When measuring the success, you should actually go back to your actual goal that made you design the campaign and then come up with understanding the measurable metrics. Be it brand awareness, increased click-through rates, lead conversions, brand reputation, social media engagement, or any other goal you had defined, your lasting and strong relationship with your influencer suffice to deliver the metrics. You can even take help of tracking software that not only help you gauge your success but also help you read the value of your influencer in various ways like knowing the clicks and impressions each post receives.
With this truth, can anyone ever say that measuring the ROI of influencer marketing is impossible? At each stage of the marketing campaign, you can have a defined mix of metrics to work and evaluate the outcome of your digital content.
Bottom Line
In addition to these 5 influencer marketing myths, there are many others myths that are debunked with a new perspective and meaning. With the stages that are measurable, benefits are immeasurable to come up with a new dimension of brand success and growth.
