By Shane Barker
Although influencer marketing yields effective results and high returns on investment, some businesses still shy away from it. That’s likely because influencer marketing comes with several challenges that may pose some risks for businesses. Especially if you’re a startup or a small business.
The key to overcoming these challenges is to first identify them. Once you do so, you can come up with an action plan to address each of them for your campaign.
Econsultancy recently collaborated with Fashion and Beauty Monitor to come up with a report called, “The Rise of Influencers.” In this report, they highlighted the findings of their study on marketers who have used influencer marketing. This included some of the challenges that make influencer marketing difficult for most marketers.
Let’s take a look at what these top challenges are to gain a better understanding of how we can tackle them, and execute effective influencer marketing campaigns.
Challenge #1: The Challenge of Identifying the Right Influencer
73% of marketers in the Econsultancy study felt that the biggest influencer marketing challenge is to identify the right influencers. This could mean that marketers have a hard time finding influential people in a relevant niche.
It could also mean that they have a hard time narrowing down which of the influencers they’ve found would be best for their brand.
Image Source: Econsultancy
Either way, there are two main solutions. First of all, you need to invest in tools that help in identifying the most ideal influencers for your brand. Tools like BuzzSumo and Klout are some good options as they give you a list of influencers with their stats to showcase the level of influence they have.
But in addition to this, you also need to use the right metrics to narrow down the best potential influencers for your brand. Ideally, the metrics you should use for identifying the right influencers for your brand are:
- Relevance – Does the influencer have a voice among your target audience? Will they be able to influence the decisions of people in the relevant industry?
- Content Quality – Can the influencer create authentic and engaging content to promote your brand or product? Does the influencer’s visual aesthetics appeal to you and match your vision for the campaign?
- Engagement – And finally, can the influencer effectively engage their audience? Do they have millions of followers but only a few thousand engagements on their posts? Or do they generate high engagement rates regardless of how many followers they have.
Challenge #2: The Challenge of Measuring ROI
The Econsultancy study also found that the second biggest influencer marketing challenge for marketers was in measuring ROI. 65% of marketers in the study considered it to be one of the biggest obstacles. And in other studies, it has been listed as the biggest influencer marketing challenge.
This is mainly because most influencer marketing tools available in the market haven’t yet addressed this issue effectively. The most popular tools maybe help marketers identify some of the best influencers in various industries. But they do not give Go to the full article.
Source:: Business 2 Community