The 5 Biggest Influencer Marketing Myths That Won’t Die

The 5 Biggest Influencer Marketing Myths That Won’t Die

If your brand can tap into influencers' power, you'll make a big impact on your audience, generate more leads and drive more sales. There, it's easy to define and gauge results but paid media don't always give you the results you want. No matter how much you offer, if the partnership doesn't make sense for this person's audience, he or she won't accept it. If you're one of the 12 percent, it's time to step it up. While Kim Kardashian does have a huge number of followers, not all of those followers are going to be the right audience for your brand. So if you're looking to target teens, it wouldn't even make sense to work with a big celebrity. When searching for an influencer to work with, make sure the influencer has a voice in your industry and that your audience trusts that person. Measuring the ROI of influencer marketing is impossible Defining success is one of the biggest challenges marketers face -- especially when it comes to influencers. But 78 percent of those marketers said that determining the ROI of influencer marketing was going to be their top challenge for 2017. Track social shares and engagement?

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The 5 Biggest Influencer Marketing Myths That Won't Die

Whom would you rather get advice from: a close friend or a brand? The answer for most people is, obviously, a friend. And, given the ever-widening transparency on the web, the definition of “friend” is expanding to include influencers.

Influencers have serious power over audiences. In fact, according to Adweek, 49 percent of people say they rely on influencers’ recommendations when making a purchase decision. That’s a huge opportunity for your brand.

If your brand can tap into influencers’ power, you’ll make a big impact on your audience, generate more leads and drive more sales. On average, businesses generate $6.50 for every $1 they spend on influencer marketing.

“In many respects, influencers are key to making sense of the billions of pieces of content and words that are published throughout social media services,” marketing consultant Mark Evans has said. “They are the ones we follow, trust and ultimately help decide what will succeed or fail.”

But influencer marketing isn’t an easy feat for any brand. You have to make the right connections and approach your audience with a partnership that feels authentic, or risk losing out to competitors.

There is so much information out there on how you should be doing your influencer marketing strategy — but not all of it is accurate. Here are five of the biggest influencer marketing myths many brands still think are true:

1. Influencer marketing is expensive.

As humans, we’re hard-wired to favor instant results. We want what we want, and we want it now. But, in marketing, the greatest payoff doesn’t usually come right off the bat.

Many marketers invest the major proportion of their time and money in paid media. There, it’s easy to define and gauge results but paid media don’t always give you the results you want. Many are hesitant to invest in influencer marketing because they think they’ll be paying a lot for little reward, but it’s actually the opposite.

If you’re targeting big-name celebrity influencers, there’s no way around it — you’ll be shelling out a lot of dough. So,you’re actually better off working with organic, niche influencers. These are the ones who can do more for your brand and will cost much less to work with.

2. You must provide influencers monetary compensation.

While cost is definitely a factor to consider when ramping up your influencer marketing strategy, it may be less than you think. Not all influencers will require payment for a partnership with your brand.

Compensation is one of the most hotly debated topics rwith influencer marketing. How do you negotiate a deal that respects the influencer’s time and contributions, while still maintaining an authentic relationship?

For most influencers, money is not the most important part. No matter how much you offer,…