Influencer marketing has become a popular marketing strategy.
Many brands like this strategy because it can help them increase brand awareness, visibility, engagement, and conversions. However, influencer marketing comes with its own set of pros and cons.
Let’s take a look at some of the pros and cons of influencer marketing that you should consider before implementing this strategy for your brand.
Pros of Influencer Marketing
Nearly 20% of marketers ran six or more influencer campaigns in 2019. 20% of marketers plan to allocate between a quarter and half of their budget to influencer campaigns.
Why are marketers planning to invest more in influencer marketing?
Let’s find out:
Influencer Campaigns Offer Good Returns
Using influencer marketing can help you attract, engage, and convert more potential customers into paying customers. It can help you build trust and encourage sales.
Working with the right influencers can also help you build meaningful relationships with your target audience.
Influencer Marketing is Cost-Effective
You do not have to hire a celebrity to promote your brand. You can choose to work with micro- and nano-influencers. They also do not charge as much as celebrities do.
In fact, some influencers can also agree to promote your brand in exchange of free products and services. You can make strategic alliances and also offer them a commission for every sale they help you make. This will encourage the influencer to put in more effort to bring you targeted leads.
Cons of Influencer Marketing
If not done right, influencer marketing can lead to financial losses and harm your brand’s reputation as well.
Read to learn more about the cons of influencer marketing:
Partnering with the Wrong Influencer Can Harm Your Brand
Partnering with the wrong influencer can lead to wastage of time, resources, and effort.
You can receive a backlash from consumers, which can damage your brand’s reputation.
To avoid this, you should choose an influencer who belongs to your niche, is authentic, and creates relevant content and in this process, the right marketing agencies can suggest great strategies to boost your brand position.
Additionally, you should thoroughly vet the influencers to figure out if they have any fake followers or engagement. For this, you can leverage tools such as trendHERO. This tool gives you detailed analysis about the influencer’s audience, engagement, and the number of fake followers.
It Can Be Difficult to Track Your Campaign’s Performance
Consider the amount of time and money you spend on finding an influencer, negotiating with them, co-creating content, and running the campaign.
Don’t you want to figure out whether your effort is generating a decent revenue?
If you don’t measure the ROI of your campaigns, you can’t be sure about it.
However, measuring your campaign’s performance manually can be hectic. That’s why you need to use powerful influencer tools. Using these tools can make it easier for you to find influencers, monitor your campaign performance, and calculate ROI.
Still unsure about whether or not to use influencer marketing?
Check out the infographic below that covers other pros and cons of this marketing tactic, It can help you decide on whether to start partnering with influencers.