With traditional advertising getting less and less effective, marketers are turning to other forms of marketing with influencer marketing being among the top.
In 2016, 80% of marketers reportedly used influencer marketing as part of their strategy. A whooping 94% were satisfied with the results.
A social media influencer is a person with a significant following (sometimes huge) on any social media platform–but they’re most commonly associated with Instagram.
What is Influencer Marketing?
As the name implies, influencer marketing relies on the popular social media personalities to get the word out about brands.
Keeping my @DIFFEYEWEAR game strong, as usual. Grab a few pairs in time for the holidays for up to 40% off today during DIFF's final holiday sale, and use my code "LORDsale" to get free shipping on your order. DIFF has a few really solid charitable initiatives, so it's definitely a great company to support. Check em out at diffeyewear.com #DIFFCollab
Sounds simple right? In reality, it is, but getting desired results takes effort.
A lot of brands often jump in without much research and preparation. This can be disastrous.
In this article, we discuss the 3 common mistakes people make with influencer marketing and ways to avoid them.
3 Biggest Mistakes of Influencer Marketing:
1. Poor Planning
One of the biggest mistakes a brand/business can make is to rush into an influencer campaign without a proper plan in place.
As the saying goes, ‘If you fail to plan, you are planning to fail!’
Without a plan, your campaign is less likely to succeed.
For example, if you are looking to have an influencer help you get the word out about your business, you probably don’t want to seek out an influencer that features many products in one post. Instead, you’ll want to find an influencer that focuses on one business at one time.
On the other hand, if you’re looking to get your products mentioned alongside competitors, you’ll need to seek out an influencer that incorporates many products into each post.
In short, if you don’t plan ahead, you’re more likely to hire the wrong influencer and lose money on your campaign.
Don’t make that mistake. Instead, have a definitive plan for your campaign.
Having a clear plan will guide you to set SMART (Specific, Measurable, Achievable, Realistic, and Timebound) goals for your campaigns.
Your goals will guide you as to the kind of influencer to hire for your campaign, how long you’ll run the campaign, the platforms to use, and the Key Performance Indicators (KPIs) you’ll need to measure your success.Avoid these common Influencer Marketing mistakesClick To Tweet
2. Focusing on Vanity Metrics
Another common mistake people make with social media influencers is focusing on vanity metrics. It’s very common for brands/businesses to focus on the popularity of the influencer.
A common vanity metric is the number of followers or fans an influencer has.
Being popular is good, but it doesn’t necessarily translate into profitability.
Just because one influencer has 300k followers doesn’t make him better for business than one with 100k followers.
Technically, the more followers a person has, the more reach they can get. But this is not the case any longer on social media.
Don’t pay a lot of attention to the number of followers or fans. What you should really check is how engaged his/her followers are.
Engagement rate is the ultimate measure of the quality of an influencers fans or followers.
Your campaign is more likely to perform better with an influencer with higher engagement rate than one with more followers.
3. Not Measuring Results
Numbers don’t lie.
The only way to truly measure the impact of an influencer campaign is to dive into the data.
Many fail to look beyond the likes, shares, and retweets on the influencers social media accounts.
As discussed in our first point, because many brands rush into influencer campaigns without a clear definition of goals, there often aren’t any KPIs to measure success against.
Not measuring results means you can’t pinpoint which campaigns had the most success if you’re running multiple campaigns.
Avoid this by having measures in place to track results. Use trackable links where necessary. Check your analytics for any bumps in traffic or sales during campaign periods and growth in social pages.
Measure results against goals to find out whether the campaign was a success or not.
Skip the Trial and Error
Influencer marketing is getting more and more popular by the day. A lot of brands and business are employing it.
As a relatively new form of marketing, there’ll be a lot of trial and error.
By avoiding these common mistakes that we discussed, you can drastically increase the chances of success of your influencer marketing campaigns.