6 Influencer Marketing Myths, Defied.
“Influencers are ineffective and shallow. They get free shit to endorse brands. There is no way to track campaign data…”
In the last post, I briefly described the ABCs of influencer marketing. User generated content brings people with a common cause together, which leads to more meaningful conversations. Smaller key opinion leaders tend to deliver stories with passion and honesty, just like any one of our trusted friends. Over and above that, useful information is often borderless and timeless. Popular yet often a misunderstood strategy, it is thereby important to clarify on the do and don’ts so to help more businesses reach their objectives.
1. Show Me the Money!
A two-year study commissioned by Variety shows that Youtubers exercised more authority over mainstream artistes such as Bruno Mars and Taylor Swift, based on approachability and authenticity etc. So how much do influencers charge? Depending on the type of content required, it may range from a few hundreds to thousands per post. Instagram posts and stories typically cost lesser than videos to produce. Talent fees often do not reflect accurately the time and effort he / she has put in, especially when one is capable to produce the story-telling from scratch and of post-worthy kind. Some content creators actually focused more on alignment of personal interests with corporate values and expertise over competitive compensation. Firms may consider providing them creative freedom, exclusive access to launch parties, brand updates, attractive discounts or samples as well. Once invested they are more likely to go the extra mile to make the campaign a success, engaging niche communities organically.
2. Influencers are nothing but fluff
It is not hard to see why many of these youngsters rather not hold that title. The term “influencer” has been negatively associated with incessant picture-taking and getting freebies. People are doubtful of their power over online audiences. The truth is most worked hard to interact, build genuine rapport and familiarity with the audiences. Generating content that looks “unscripted” and fun is not that straightforward, more so if bound by guidelines. Some juggle holding their full-time job and being a Youtuber like a pro — ranging from managing program agenda and production set-ups to following up on trends and testing out different marketing tactics to see what appeal to fans most. Dealing with hate mails is part of the deal, especially if one is “refreshingly” different from others or outspoken on social issues. Content creators usually do not recommend a product or service that they do not fully believe in as it might earn them backlash. Still, to err is human. If bad reputation or profanity ever become an issue, companies could adopt computer-generated imageries (also known as avatars) instead. Spotify, Balmain and Prada successfully worked with Los Angeles-based virtual amigos — Miquela, Bermuda and Blawko on the Instagram scene.
3. Big is Beautiful
Is it really? Oprah Winfrey once tweeted praises for Microsoft’s Surface tablet from her iPad. Many traditional celebrities have massive social media following but might not be the right ambassadors. Being popular drives awareness, but might not be enough to relate or convert potential consumers to make a purchase. Goodwill and trust may wane. What ordinary, less famous netizens offer on the other hand, are simple everyday conversations with target audiences. It is also common for influencers to cross collaborate and leverage on each other’s network to grow faster nowadays. Besides looking into strengths of these individuals, using the right type of platform to distribute information are important. Because of its raw and “in the moment” nature, FOMO (fear of missing out) millennials flock to Instagram. Step-by-step tutorials, vlogs and product reviews sit well with Youtube as the medium has a longer life span. Marketers should also pay attention to TikTok, Twitch, Snapchat for they are increasingly stealing share of voice.
4. Ignorance Is Bliss
It pays to be in the known, especially when sponsored content is provided by makers to enterprises in exchange for cash or other non-financial incentive. The KrisFlyer-UOB and Singtel-Gushcloud saga had resulted in lost credibility and negative publicity for client and marketing agency. Mandated by ASAS guidelines, key stakeholders are to indicate paid promotions as captions on photos, videos or in audible form on podcasts. There is a need to disclose the relation as early as reasonably possible besides using hashtags and not behind a “see more” button. Influencers need to strike a balance of projecting what the client wants and what has been usually presented to consumers, as latter assesses validity of recommendation against social proof. Brands therefore are encouraged to avoid non-disclosure and share the responsibility of highlighting paid endorsement. Making an effort to establish a sincere partnership beyond the post will go a long way towards selling the purpose and getting sales leads, not just about product features and media value.
5. Difficult to track returns-on-investments
Reach, engagement, traffic or conversion? Widely sought-after metrics are either traffic generated from media to landing page or social shares of a post. Organic reach takes time and results are not immediate. Based on Deloitte’s insights, the emergence of digital ad blocking technology made it tough for brands to gather consumer data. Influencer marketing is seen as less intrusive and could be a solution to the problem. Promotional codes, affiliate links, Instagram shoppable links or UTM parameters can be used to determine its effectiveness. Nonetheless this form of advertising should always be executed as part of an overall marketing plan and not on its own. Through a reliable influencer marketing agency, real-time data to channel engagement and audience demographics can turn to actionable insights.
6. Influencers are only meant for B2C
On the contrary, Forrester reported that more than 50% of B2B firms have upped their influencer budgets in 2018. Time taken to measure campaign impact remains longer and involves detailed demonstrations and trial periods, given the complexity of B2B buying process. Brand advocates are commonly journalists, analysts or staff of the company whom are more interested to network, share their industry knowledge and likely active on blogs, Twitter and Linkedin. Content delivery need not necessarily be mechanical here. An accomplished spokesperson can help make it come alive. General Electric engaged feminist Lena Dunham to work on recruiting women to the technology industry and held a #GEInstaWalk campaign, inviting influencers, “superfans” to share their tour experiences at the R&D center. Thought leaders like Salesforce founder-cum-CEO Marc Benioff commands respect and helps ensure the virality of corporate message in his industry. Organizations that recognise the importance of having testimonials from experts will have an edge over those who do not.
Decide what you want to do with key products and devise ways to get it. Evolving as we speak, effective influencer marketing requires a good mix of quality content, right social media channels and stakeholder management. Brands, have you tried it before? Yay or nay? I’d love to hear from you!
