Have you ever wondered if influencer marketing is really worth it? While there are numerous reasons why some marketers may be tempted to avoid incorporating the strategy into their marketing plans, it’s an ideal time to try influencer marketing — and here’s why: not only can it help to build your brand’s visibility cost-effectively compared to other channels but also influence leads down your funnel. So, don’t miss out on all the potential benefits of using an influencer campaign. We’ve compiled a list of common misconceptions regarding influencer marketing and why they are wrong.
Common influencer marketing myths
Lack of control and oversight
One misconception about influencer marketing is that brands do not have enough control over this method of online advertising. With influencer marketing platforms such as IZEA’s Marketplace or Flex, brands can directly communicate with influencers, choose whom they wish to work with, negotiate pricing, and approve content. Working with an influencer marketing team also allows brands to review content before the creators post it on social media. When brands work with influencers through such platforms, they can provide creative briefs that outline specific guidelines for creators to follow.
It’s impossible to track ROI and other data
A big misperception about influencer marketing is that it is difficult or even impossible to accurately measure campaign ROI, metrics and audience statistics. Influencer marketing technology and software companies like IZEA can in fact provide brands with an abundance of data to help them gauge campaign success. These include organic and paid metrics:
- Completed views
- Sales lift
- Foot traffic
- App downloads
IZEA tools like Tracking Links and Shopify integrations help Flex platform users track ROI, while Managed Services clients get regular reporting on their campaigns.
It has short-term impacts
Influencer marketing does more than yield short-term success. Influencer marketing is unique because it relies on influencer authenticity and trust among their audiences, providing long-term benefits. According to Hubspot, Gen Z trusts influencers more than family and friends for product recommendations. Our Trust in Influencer Marketing report also shows the same theme. It found that 42% of respondents ages 18 to 29 turn to TikTok to research a product or service before purchasing. Influencer marketing does not appear to go anywhere, as it boosts brand awareness and social proof.
Some skeptics doubt that this method of advertising can be effective. However, one of the biggest pros of influencer marketing is that it allows brands to tap into a more authentic advertising style and reach audiences they never have before. Partnerships with influencers can be extremely effective as they relate to target audiences on a more personable level than a brand typically would. Our Trust in Influencer Marketing report found that half of social media users have purchased after seeing a product used by an influencer.
Creator compensation is too expensive
As with any form of advertising, costs play an important role in setting marketing strategies. However, in influencer marketing, brands can work with influencers that fit well within their budget.
Influencer research, such as our State of Influencer Earnings report, which is released annually, shows the current trends in compensation. Check it out for insights on influencer compensation.
Influencer marketing can be more cost-effective for many brands vs. working with creative agencies or production teams. Brands can also work with micro-creators and then amplify the content’s reach with paid advertising, which can turn any influencer into a mega-influencer.
Brands put their reputations at risk
While working with influencers comes with some risk, partnering with a team like our Managed Services helps brands with essential steps like negotiating contracts, reviewing content, and providing creator guidance. IZEA can also step in if issues arise, helping to resolve them and offering guidance to protect the brand.
3 benefits of influencer marketing
Despite common misconceptions, influencer marketing offers numerous benefits for brands.
Boost brand awareness
By partnering with influencers, brands can increase their brand awareness and establish social proof.
Reach new markets
Influencer marketing allows brands to access niche markets that otherwise would be difficult to reach. This enables brands to expand their customer base and connect with new audiences.
Gain direct feedback on your products
Influencer marketing provides brands with a direct channel for receiving product feedback. Through social media platforms, brands can gauge the effectiveness of their campaigns and gather valuable insights to improve their future marketing strategies.