4 Reasons Why Your Influencer Marketing Strategy Is Not Reaching Its Full Potential
Influencer marketing has already become a phenomenon. Nowadays, almost every company is executing or is considering implementing an influencer marketing strategy due to its high conversion rate, cost-effectiveness and quickly measurable results. According to new research, 86 percent of marketers used influencer marketing in the last year and most marketers are looking to double their investment in 2017. However, despite the benefits, some businesses may not have a clear understanding on how to structure their marketing efforts to implement an influencer marketing strategy.
In this post, we’ll take a look at some of the most common reasons why an influencer marketing strategy may not be reaching its full potential.
Not knowing your desired audience
Having an understanding of your audience before starting any type of influencer marketing is crucial and will reflect the success of any campaign. In fact, not knowing the target audience is directly related to picking the wrong influencer. When brands have a clear idea of their target audience, the influencer search and sourcing is way more precise and effective, since the selected influencers will be able to genuinely promote a product or brand to potential customers with similar interests to them. So the better brands know their audience, the better the selected influencers will be aligned with their products or brand.
More followers does not exactly mean bigger results
There is a tendency to believe that large-scale influencers are the best influencers for any brand. Even though influencers who have the biggest amount of followers tend to have a higher exposure to the public, sometimes bigger is not always better. This goes hand in hand with reason number 1, since brands need to ensure that the selected influencers are the perfect fit for their desired target audience. Marketers need to dig deeper and understand influencer-follower dynamics and more specifically, how involved a particular influencer is with his/her community. Often, influencers that do a great job engaging with their audience are the ones that will bring the best results for the brand, and it is certainly not only the large influencers who can do this well.
Not using the right platform
Using the right choice of social network is key for successful results. According to eMarketer, Instagram and Facebook are the leading platforms used for influencer marketing campaigns followed by Twitter, Blog and Youtube. Sometimes, brands choose the most popular social channel without understanding it. Once again, this decision is connected with the first one in this post: the right platform will be the one where the brand’s desired target audience is located. Furthermore, it depends on the type of content that a brand wants to share; if the influencer strategy is aimed at strictly video content, then the best platform to use would be Youtube or Facebook. According to eMarketer, Instagram is still the strongest platform for photo and short video content, and that brands and influencers alike appreciate its concise feed and beautiful imagery. In the end, the success of the selected platform will be once again based on the brand’s target audience, the right influencer and the desired type of content.
Looking at the wrong metrics
Before looking at the impact of any influencer marketing campaign, marketers need to take a step back and ask themselves: what is the business trying to achieve? In the same way, marketers need to choose meaningful metrics for their business and ask themselves: why is said metric important? For instance, for a brand looking to generate web traffic, the best strategy is to look into the clicks received from the links used in the campaign. Another metric, and a very important one for most marketers, is engagement, since it proves that a target audience is actually listening and that brands are turning the influence into an action. Engagement includes likes, comments, number of shares and retweets on Twitter, among other social interactions. Other key metrics include reach and impressions, lead conversion and sentiment. As we can see, there are many ways to measure the success of influencer marketing, but every metric will depend largely on the specific business’ goals.
Remember that influencer marketing is one of the hottest online marketing trends now, but brands still need to do their research, ensure that the strategy is aligned with the target audience, understand the right social channel to use and ensure that the metrics used are essentially related with the business’ goal.
How Pulse Can Help
Marketers are turning into experts and agencies like Pulse Advertising that allow them not only to identify these factors beforehand but execute campaigns in the most impactful way possible, bringing a holistic approach by taking care of the entire value chain: from the creative concept, media planning, influencer sourcing and booking, to the complete execution of the campaign and the reporting of meaningful results.
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