How significant is influencer marketing? With some estimates predicting brands are expected to invest at least $15 billion in influencer outreach by 2022, it’s a far cry from the passing fad it was presumed to be just a handful of years ago. And if you think it’s merely the domain of budding YouTube stars, think again. Virtually every social media platform features some form of brand advocacy, ranging from A-list celebrities to short-term authentic influencers—all of which has led to what some sources have reported has been an ROI of 800 percent. If what seemed like a passing fad ten years ago can maintain that sort of longevity in 2020, then you can only imagine what the marketing world may look like in 2025.
So why do so many brands seem to fail miserably at it?
It’s not because of the budget they’re spending in the influencer market—a market expected to be worth approximately $10 billion this year alone. It’s not because they don’t recognize the value of influencer outreach. Or even that they don’t necessarily know how or even why to approach it. It’s because they’re handling influencer marketing internally, often at the sake of their own growth and product development.
1. Save Time, Maximize Growth Social proof is more valuable than ever in 2020. But your business may simply not have the time or manpower to wield it effectively. Influencer outreach is a constantly evolving process. It requires generating content multiple times a week. It requires determining your ROI after engagement. And it requires both foreknowledge and analysis of trends. You’re likely wearing multiple hats right now, even as we speak—from CEO to Chef Budget Analyst. You don’t want to add one more to the pile. Especially when your business needs to evolve.
2. Which Platform Is Aligned With Your Goals?
The average social media user in 2019 had approximately 7 accounts with different platforms, according to data from Pew Research. And there’s over 50 different social networking sites in the world, with more being added each day. Each has their own demographic. Their own focus. Their own strengths, but more importantly their own weaknesses. Which one is right for your customer profile? Which ones share your values? It’s exhausting to even consider it. Influencer outreach is about appealing to your target audience exactly where they dwell. And with 79 percent of U.S. adults using some form of social media in 2019, you’re going to be knocking on a lot of doors until you come to the right house.
3. How Experienced Is Your Marketing Team?
It’s important to remember that influencer outreach is still a relatively young phenomenon. And if you thought digital marketing strategies were difficult to adopt compared to traditional marketing, influencer marketing is a completely different beast from both. You need to vet the right partner. You need to set effective social media policies. You need an accurate measure of social proof—and that doesn’t just mean measuring likes. You need to rely on new tools. New algorithms. And above all, new audiences. And if you’re marketing doesn;t have those skills now, there’s no way of guaranteeing they’ll learn them six months from now.
4. Consistency And Accuracy
Engagement analytics may simply not be your strongest suit. You can have the most revolutionary product in the world; but until you many accurately measure just how well a potential audience is engaging with it you’re simply second guessing. In any form of outreach there is no second guessing. But influence outreach is a little different. It needs constant measurement, monitoring and reporting. And for that, you’re going to need consistency and accuracy in reporting you can rely on every single time.
5. Your Brand Is Your Content
Your brand isn’t a simple tweet scheduled every two weeks. And it’s not about following the tracks your competition laid before you, either. Your brand is your story. It signifies your values. And in order to convey it adequately, you’re going to need content that reflects it. An influencer might speak to the 3.8 billion people (and rising) on social media. But can they convey your story accurately? Can they speak of the same values, hopes and overall mission of your brand? It becomes a lot easier when you have an outside party that can align themselves with that mission.
Because otherwise? You might gain a handful of followers. But you also might wind up losing the most important component to your business. Your brand.
Color More Lines provides white glove, global account management of your ecommerce platforms so mission-driven companies can focus on new product development, branding and growth strategies. Find out more at Color More Lines.