If you’re active on social media, then you have come across people with a high following on social media advertising brands online. It is a new method of capitalizing on the millions of people who use social media platforms.
The purpose of influencer marketing is brand exposure to a broader audience to increase sales. Keep reading to learn some pros and cons of this marketing strategy.
Benefits of Influencer Marketing
In this new digital age, influencer marketing has the following advantages for a company:
Generating More Sales
The general purpose of any business offering a product or service is better sales and profit. Influencer marketing ensures that a business’s e-commerce website receives traffic through leads. It also focuses on converting these leads into clients that purchase the goods and services.
Building Brand Credibility and Social Connection
If your brand struggles with recognition and getting out there to potential customers, influencer marketing can solve this. Increasing the awareness of a brand is especially beneficial to companies that are young and compete unfavorably in the market.
Establishing Long-Term Connections
Business-client relationships last for a more extended period through influencer marketing. An influencer customizes the brand message to fit well with their audience. It makes the followers loyal to the brand.
Its Suitability to Any Business
Influencer marketing is helpful for a wide variety of companies, for example, fashion, finance, food, beverages, and gaming.
It suits most businesses because influencers can adapt their content to sync with brand messaging. They have to be creative with it.
Helps a Business to Enter New Markets
Sometimes a business may do well in specific markets but fail terribly in others. Influencer marketing helps companies tap into new ones, especially using different platforms.
For example, if a brand wants to appeal to a younger generation, they may consider using influencers based on TikTok and Snapchat.
Drawbacks of Influencer Marketing
Influencer marketing is crucial to a company’s growth but has disadvantages and risks. They include;
Issues With the Rights to an Influencer’s Content
There may be issues with who owns the right to use an influencer’s content. Influencers may also charge high fees to companies for the rights to use their original content.
There Is a Risk of Negative Returns
Influencer marketing has the risk of not converting as expected. It happens when you use an unsuitable marketing strategy depending on how experienced they are in selling a product or service. For example, paying an influencer $1000 only to get $300 worth of sales.
Risk of Unfavorable Competition
If a brand doesn’t draft a good agreement when implementing its marketing campaign, the influencer may end up partnering with makeeover competitors.
It creates confusion among the followers, and followers are likely to choose the brand the influencer tends to push more than the other.
Over-Reliance on One Platform
Marketing departments may also favor platforms that receive more user engagement than others in a day. While it may seem like the logical thing to do, it limits the potential to connect with more customers.
A good strategy would be to start on all mainstream social media sites and slowly focus on the ones that generate more leads.
Misalignment Between Business and Influencer Goals
Sometimes the goals that a company aims to achieve with its marketing campaign may be different than what an influencer wants to accomplish with their content. For example, influencers who post controversial content to get likes and views may hurt a business’s brand.
Is Influencer Marketing Effective?
Influencer marketing can transform a company’s fortunes if you do it with the right strategy. If you’re unsure how to do it, visit Loopr | Video Games and TechnologyPR and Marketing Agency. Seek the services of a reputable public relations and marketing agency. We offer a strategic approach to influencer marketing.