Influencer Marketing in 2023: What Works and What Doesn’t
People love social proof. You are more likely to try out a product or service because other people have already tried it out and shared their positive reviews. In a similar vein, you will be sceptical about going for a brand that has tons of negative reviews on its pages.
What then happens when the person who has consistently shared content on a topic you are interested in and whose page you follow to see their regular updates reviews a product or service? That review will be imprinted on your mind longer than a random review from an unknown figure on one corner of the internet. That is how influencer marketing works. It’s really that simple.
A potent strategy that increases visibility and awareness for brands, influencer marketing is usually woven into integrated marketing campaign plans as part of concerted efforts to grow a community for a brand.
In 2023, this important facet of digital marketing — if done correctly — can still generate leads and drive conversions for your business. To maximize the benefits of influencer marketing, you’ll need a guide to ensure that you steer clear of certain gaffes that can mar your Return On Investment (ROI).
Here, we will put you through the dos and don’ts of influencer marketing to ensure that you get optimal results at the end of the campaign.
Let’s start with a brief definition of influencer marketing.
What is Influencer Marketing?
According to TapInfluence, influencer marketing is a type of marketing that focuses on using key leaders to drive your brand’s message to the larger market. Rather than marketing directly to a large group of consumers, you inspire/hire/pay influencers to get out the word for you.
Through influencer marketing, you are able to reach your target audience without appearing invasive and generic. The people whom you intend to capture and convert have already built a relationship with the influencer on a foundation of trust and reliability. This makes your ad seem less “salesy” and more believable to your target audience or target groups.
What Makes Influencer Marketing Potent?
1. You get a significantly great ROI
Other digital marketing methods will not offer you the significant ROI that influencer marketing does on a silver platter. And we all know that ROI is the ultimate result of KPI metrics.
ALSO READ: Doyens of Marketing & Advertising: Top 5 Game-changers in the Industry
2. Your engagement gets a boost
You increase your chances of skyrocketing your engagement by leveraging influencer marketing. The number of comments your average posts get is quadrupled and more people visit your website: these and more are what you get when you collaborate with an influencer to arrest the attention of your target audience.
3. Your brand borrows from the credibility of the influencer
When you work with an influencer who is respected in their niche, you are not only trying to sell and convert leads, but you are also positioning your brand as a trustworthy option for them.
To get the most out of your influencer marketing campaign, you have to:
1. Work with the perfect fit for your brand
You should never work with an influencer for their following or engagement rate; your brand values and persona must be aligned with the influencer’s niche, that is, what the influencer is known for. A fashion influencer will not be appropriate for a petrochemical product, for instance, regardless of the number of followers they have.
2. Be clear with your goals
Usually, influencers help to introduce you to their loyal audience, ultimately lending to your brand credibility. To work effectively with influencers in 2023 and beyond, ensure that your goals are as clear as day so that the influencer understands the best approach to meet or exceed your target. 5000 signups? 3000 leads? — be clear to the influencer about your key performance indices (KPI) at the end of the campaign.
3. Allow the influencer to create their content
You limit the influencer by creating content for them without giving them free rein to be as creative as possible while promoting your products to their audience. There’s a reason they have gotten thus far with their audience. Trust them to give you the best engagement and leads with their style of content.