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Pros & Cons of Influencer Marketing
At this point, we’ve all seen influencer marketing posts on Instagram or Youtube. It’s a huge part of marketing campaigns these days. In fact, we use them for our clients frequently. While influencer marketing is hip and trendy, if not done correctly, it can be detrimental to any brand or campaign. Below we have listed some of the pros and cons of influencer marketing.
The Pros
Creates Trust with Audience
A lot of influencer marketing is based on a strong relationship with the influencer, their relationship with their audience, and the trust that is created between them. If you’ve done your homework on your influencer and they have that credibility with their audience, it then creates an image of your brand being trustworthy too.
Extends Audience Outreach
Typically, influencers have hundreds of thousands of followers, many of whom are actively commenting and liking. Once you’ve established a working relationship with an influencer you have in turn extended the reach of your audience.
Smaller Marketing Budget
Not every business has the marketing budget of big corporations and can use Gordon Ramsey to mention their restaurant on his Instagram page for $5K. For a more reasonable price range, smaller businesses can utilize an influencer marketing campaign for a free product or an average starting rate of $250.
The Cons
Choosing the Wrong Influencer
How do you know you’re not choosing the right influencer? It can be hard to tell, but like most of what we preach here is knowing your brand makes all the difference. We wouldn’t recommend a travel blogger promoting a home goods product. Doing your homework on your influencer is important too. Are their followers commenting on photos? Is there any type of interaction between the influencer and followers? You want to make sure they don’t have 3.2M bot followers.
Not Nurturing the Relationship
We’re sure you’ve heard it but all relationships take work. Treating your working relationship with your influencer is the same. Don’t look at this type of campaign as a one-time transaction.
Not Playing By the Rules
In 2017, The Federal Trade Commission put out new guidelines for influencer marketing. A drawback of not following these guidelines could put you in trouble with the FTC as well as you may experience audience backlash if you are not upfront about your partnership.
There you have it the pros and cons of influencer marketing. In our experience, as long as you do your homework and establish a good working relationship with your chosen influencer or influencers, influencer marketing is a great way to spread the word about your app or product as well as building credibility.
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