Influencers within the past five years have been the way many brands have seen success, especially in the fashion industry. However, more and more influencers are arriving on the scene and being taken advantage of by a multitude of industries. Some are sceptical of if it does work. In our latest article we have constructed an Instagram influencer myth buster to give you the truths.
What Is Influencer Marketing?
Influencer markeitng is the process of using someone with a large following to promote your business, products or services to their network of followers and watchers. Influencer marketing became really popular in the fashion industry after a few well known TV Celebrities started to utilise it. From there, many companies use these people as ways to reach a wider and more universal audience.
What Are The Myths?
When it comes to the use of influencers there are many myths associated. Many do not believe it to be a form of marketing, however many do not agree. This can deter some people from using it as a way to market their business. Some of the most common myths discussed include:-
Influencer Marketing Is Diminishing In Popularity
Influencer Marketing was spurred on by the introduction of Instagram. Instagram changed the way in which companies marketed their products, and the idea of using people to do this for you was born. In fashion and technology this is very abundant.
Many industries are hesitant about using it as a marketing method as seen as a diminishing way to advertise products. However, this is not the case and there are some key facts which really back this up. In 2019 there were over 4 million brand-sponsored influencer posts on instrgam. This is up 400,000 on the year before. Showing significant growth in the use of influencer marketing.
Influencers on Instagram are the new modern models or popular users. They are able to advertise products and as they have used them it creates a positive reputation across your industry.
Do Not Use Smaller Acccounts
One of the most popular myths about influencer marketing is that you should not use accounts that are under a certain amount of followers. This is due to not having the right audience amount. However, this could not be further from the truth. Let us explain.
Micro influencers as they are known have a really great response rate from their audience and also can produce really good results when it comes to advertising products. If someone has less followers they are more than likely to have a really good response rate as their following is very specific for them. Having millions of followers also means they are being approached by many brands to promote. Your brand or product may get lost in this due to the amount they are asked to do it.
The point that we are trying to explain in this is that having millions of followers does that not mean you will gain more sales. If you are looking to get a higher conversion rate then micro influencers are going to be better for investment.
You Won’t See Results
The worry with influencer marketing is that you will not see any results. There is an investment needed for influencers be that in a monetary form or just by giving away products for free. Sometimes it can be hard when working with really popular influencers due to them being in high demand. However, there are a lot of exceptions to this rule.
Statistics show that over 80% of marketers say that influencer marketing does have an effect on your business. This is a high percentage considering how many influencers are around the world today. One of the major factors that you need to consider is what platforms you are going to use. Within the world of influencers, Instagram and Youtube are the two biggest platforms that you can utilise. Ensuring you target the right audience is going to also be key to success.
Success Is Hard To Measure
Measuring ROI in marketing is hard enough let alone with the use of influencers. However this is not true and there are some basic measurements you can use. Using KPI’s with influencers is a great way to see if what they are doing is being beneficial for your business. The KPI’s you want to use are engagement, conversion rate and impressions. All of these can be requested from your influencer to which they will be able to show you with their Instrgam business account.
My Industry Wont Accept It
The biggest myth on our Instagram myth buster is that it will not be accepted or there is no one operating in your sector deters people from using influencer marketing. However this is now not the case due to how popular it has become. Before, most B2B businesses would not have even considered using it. In today’s world, B2B is just as big as B2C.
Even if you feel influencer marketing is not for you, you need to at least consider it within your marketing plan. Having a consideration for it will help you to really tailor your marketing plan. If you notice an influencer marketing products similar to yours then take a deeper look into it. Most marketers believe that influencer marketing is one way to increase ROI by 8 times.
We hope that our Instagram influencer myth buster has helped settle any worries you had about using this form of marketing. As with all marketing it is going to be trial and error, and also some careful planning to make sure you are utilising people who will be able to attract the audience that you want to attract.
Head over to our Knowledge Hub for more marketing related content.