Guest post by Andriana Moskovska
Modern consumers demand transparency and authenticity, which has paved the way for the growth of influencer marketing as an industry. According to statistics compiled by the team at SmallBizGenius, 2018 saw businesses receiving a 520% return on investment after implementing a strategic influencer marketing campaign.
As evidenced by the 49% of consumers who rely on influencers’ recommendations before deciding to buy a product, it’s no longer a question of whether this tactic is effective or not; it’s a question of how you can incorporate influencer marketing into your current strategy and yield the desired results.
Before you launch your influencer campaign, take a quick look at some of this year’s trends to keep your marketing efforts up-to-date.
More Marketers Are Choosing To Collaborate with Micro- & Nano-influencers
Micro-influencers have 1,000 to 100,000 followers, while nano-influencers have between 1,000 and 10,000. These types of influencers have a fewer follower count than celebrities and macro-influencers but generate higher engagement rate.
The genuine interaction between these influencers and their network of followers increases their authenticity and trustworthiness factor, which is why many brands looking to generate organic reach and engagement are placing their bets on these types of influencers.
Instagram is Still the Preferred Platform for Influencers
Marketers around the globe spent over $5 billion on influencer campaigns on this platform. With over 1 billion active users, Instagram’s popularity as an influencer marketing channel isn’t going to die down anytime soon.
In addition to the massive number of users, the communities on Instagram, which are mostly made up of members of the younger demographic, make it easy for influencers to interact, share their skills and expertise, and grow their network.
Influencer Marketers’ Primary Challenge is Spotting Fake Followers
Fraudulent accounts with fake followers posing as influencers are deceiving marketers into collaborating with them. Although various methods to combat this type of fraud have been released, they remain prevalent across many digital platforms.
Make it a priority to check the authenticity of the potential influencer before reaching out for a collaboration. There are plenty of tools readily available which allow marketers to check if the account is using bots or purchasing followers or fake engagement.
The Use of ROI Metrics
The end goals of influencer marketers are mostly focused on increasing brand awareness and customer loyalty. Although influencer marketing is effective in helping brands drive high levels of engagement and expand their reach, calculating the return on investment is still a daunting task for many marketers.
Some of the ways to track the effectiveness of a campaign are keeping tabs on the engagement metrics (number of shares, comments, likes, etc.) and website traffic. Also, track increases in sales after launching your influencer campaign.
The influencer marketing landscape is constantly evolving, and you might find it challenging to keep up. However, adapting to trends is crucial if you want your business to navigate the competitive market as seamlessly as possible and increase its chances of success.