Apr 8, 2022
2 MIN READ
In this day and age, people are using social media often. They are active on any one channel or another. More than 4 million people actively use social media globally. In this regard, if your brand wants to reach out to more people, influencer marketing is the best way.
Influencer marketing is the last word for many brands. As it generates more returns than conventional marketing, the majority of brands follow their influencer marketing strategies.
But on the other hand, to execute these influencer marketing strategies, brands face many challenges. Brands should weigh the pros and cons of influencer marketing before taking a further step. They must take into account these challenges to make sure the success of their campaigns.
In this article, we are going to list the top influencer marketing challenges brands face.
1. Finding the right influencer
Finding the right influencers for your marketing is not an easy task. There are more than 3 million social media influencers around the world. Influencers create quality content on social media and receive people's attention through their content.
The prime task of a marketer is to identify influencers whose profiles match up with the brand’s goals. There are different types of influencers like mega influencers, macro-influencers, micro-influencers, nano-influencers, etc. Influencers share a variety of content of the same niche like fashion, beauty, health, music, business, etc. Therefore finding and selecting the appropriate type of influencers for your marketing campaign is worth its weight in gold.
Many influencer marketing campaigns conk out because of a false selection of influencers. Selecting influencers for your campaigns isn't an easy and quick process. It needs skill, and the research takes time.
Want to know more about finding Instagram influencers for your campaign? Read articles on our blog: How To Find right Instagram Influencers Easily?
2. Spotting fake influencers
A fake influencer is someone who pretends to be an influencer but is not. Recognizing fake influencers is a real challenge for marketers. This is a big-time issue for brands and businesses that depend on influencers for their success.
Being a victim of influencer fraud on social media can be on the debit side for your brand in many ways. The most prominent effect is on the financial plan of the brand. For large businesses, this may be beside the point. But for small and unestablished businesses, this can be severely affected. They have misspent their time and money on social media campaigns and selecting the right influencers.
Over and above all adverse impacts, this may affect your brand’s prestige. But there are many ways you can spot fake influencers on social media. Focus on their engagement rate, content, audience quality, etc.
Want to know more about finding fake influencers?
Read our article: How to spot fake followers on social media?
3. Measuring ROI
ROI is the return on investment from the amount businesses spend on marketing. Many brands believe that influencer marketing is effective and makes brands successful. But to measure the effectiveness of influencer marketing is over one's head.
According to a study conducted by Linqia, 65% of marketers’ top concern is measuring the performance and return on investment. But there are no direct methods to measure the effectiveness of a marketing campaign.
The engagement rate of a post related to a brand can reveal whether the users have interacted with the content. But, only through engagement rate ROI cannot be measured. Setting goals for your marketing campaigns is the primary and vital step. Developing an appropriate marketing strategy will also benefit. Identification and selection of the right influencers for your campaign are also valuable. Periodically interrogate the influencers about the metrics and ask for other information related to your campaign.
You can use different influencer marketing platforms to measure the return on investment of your campaigns. Try impulze.ai, we provide the unique feature to measure ROI both in terms of monetary value and non-monetary value.
4. Influencer Marketing is Expensive
The next challenge faced by brands is the rising cost of influencer marketing.
Certain factors affect the cost of influencer marketing.
1. For different social media platforms, the cost is different.
2. Type of influencer is also important. The number of followers matters very much. The more followers an influencer has, the higher the rate. Micro-influencers are more cost-effective than macro and celebrity influencers.
3. Influencer follower engagement rate also affects the cost of influencer marketing.
4. The type of content created by the influencer also matters because different type of content requires different resources.
Measuring ROI effectively will also help you to manage your expenses.
5. Measuring Influencer activity
It is important to know whether influencers are reaching out to people on behalf of you. For this, tracking influencers’ activities from time to time is essential. But tracking the activities of multiple influencers for multiple products of a brand on different social media platforms is a tough nut to crack.
There are many ways to track and measure influencers’ activities. Using a spreadsheet is a no-sweat method. There are different tools and software available for this. Using a specific coupon code for an influencer will help to analyze sales. Make sure that their posts are related to your business goals.
This will help you to know the overall performance of the influencers.
Without a shadow of a doubt, we can say that influencer marketing is the most successful marketing. Marketers should define their goals and build a strong strategy that will overcome all these challenges. With strong research and using influencer marketing tools, the process can be made simple. Marketers can for sure defeat these challenges and fly high.