As it becomes more and more difficult for brands to reach and establish trust with customers, marketers are going all in with their influencer marketing efforts.
With the ability to create authentic content and build brand awareness among their audiences, leveraging influencers can offer significant ROI. Studies find that businesses make an estimated $6.50 for every $1 spent on influencer marketing.
With influencer spending expected to reach $15 billion this year, brands are looking to achieve huge returns in this arena. But spending top-dollar won’t necessarily guarantee top-tier results. If your brand does not approach influencer marketing carefully and with a strategic mindset, you’ll run the risk of wasting a great deal of money.
01. They’re too focused on the wrong creators
Where many brands go wrong with influencer marketing is when they’re too focused on short-term results rather than long-term goals. They quickly turn to big-name celebrities with massive followings in the hopes of generating buzz overnight. The problem with this approach is that brands aren’t reaching or engaging relevant audiences. With social media algorithms prioritizing comments, shares, and time spent viewing content over likes and followers, if a user doesn’t engage with a celebrity influencer’s content often, they are less likely to see the content in their feed.
When brands view influencer marketing as disguised advertising rather than a strategic partnership, brand promotion goes to waste.
People follow mega influencers for a wide number of reasons and the cost of working with these influencers tends to be high while engagement is low.
Micro creators have highly engaged followers with a genuine interest in their content and message.
You can work with many micro influencers whose followers are targeted for your product niche for the same cost of working with one mega influencer. With multiple micro influencers, you get the same reach as you would with a single mega influencer, but you benefit from a more engaged audience. Because your product will be featured by many different influencers in diverse settings, this strategy can make your brand more relatable to diverse groups.
03. They don't properly vet followers
Working with the wrong influencers can pose implications beyond wasted costs—it can slow or skew your campaigns, eat up valuable resources, and most importantly, diminish trust in your brand.
Working with influencers can help you build an arsenal of user-generated content for your media mix, but your brand needs the right to use it first.
Maximize Your Influencer Budget with ApexDrop
When done right, influencer marketing can produce amazing results. Because it’s easy to get lost in all the different aspects of working with influencers, it’s important to understand best practices before getting started.
As the leading influencer marketing agency in the US, our team helps brands navigate the ins and outs of partnering with influencers to ensure your team is maximizing its budget. Our unique creator network gives you access to thousands of micro influencers and their audiences.