10 Influencer Marketing Myths Your Competitors Want You To Believe
Have you ever heard someone swear by a statement that you later proved to be false? Misunderstood facts often develop into myths that are blindly accepted as truth.
Believing in hearsay can be costly to your business, not to mention your job security, which is why it’s important to do your research, and make decisions that are grounded in facts.
At a time when digital marketing is booming, and competition is high, it’s in your competitors best interest to hide their secret tools for success.
We want you to use this article to test your knowledge on influencer marketing, to see how much you know is conjecture or truth. These myth-busters will give everybody a fair chance at influencer marketing success.
10 Influencer Marketing Myths You Should Stop Believing
Influencers with the largest audience deliver the highest ROI
Did you know that audience engagement decreases with the growth of your audience size?
The audience of a micro-influencer are more likely to share mutual interests with the influencer, and with each other, than a larger audience of millions. In terms of ROI, engagements are more likely to turn into sales than impressions.
The FTC has destroyed influencer marketing with its disclosure rules
Influencers have carefully built their audience with relevant quality content. When an influencer publishes sponsored content, without clearly disclosing their compensation, it breaks the trust they have with their followers.
Shoppers are accepting of sponsored content, because they trust the blogger to only publish content that is interesting to them, but the line is drawn at deceptive advertising practices.
We interviewed a lawyer who specializes in FTC regulations for influencers, and brands. You can read her Q&A here.
Influencer marketing is not as effective as other marketing strategies
Long-term ROI is an important consideration for most marketers. Influencer marketing has seen great success in targeting the repeat shoppers. According to a recent study, “51% of marketers believe they acquire better customers through influencer marketing.” – Tomoson
Social media content delivers more value than long form content
People prefer to engage with long-form content including high-res photos and conversational stories. Blogs are the best equipped to handle long-form content for a large audience. The longer a shopper engages with a piece of content, the more likely it is that they’ll purchase the product.
You can’t measure the ROI of an influencer campaign
Thanks to social listening, and big data tracking, we are able to measure the value brands get from influencer campaigns. Using metrics including impressions, engagements, and total media value, influencer marketing generates 11x greater ROI than traditional advertising efforts.
Paid influencers don’t create authentic content
In campaigns, bloggers don’t just promote a product, they also come up with useful ideas on how to use the product. Followers engage with this useful content, share it with their friends, pin it on Pinterest and come back to it later when they want to try the idea for themselves.
Influencer marketing is too expensive for small brands
Influencer marketing is a cost-effective solution that brings greater returns than other digital marketing strategies. It’s been proven to outperform banner ads, for example, and is becoming the preferred method for marketing new product launches. Each campaign is custom, which gives small brands room to make a small investment without the high-level risk normally associated with a marketing strategy.
The benefits of an influencer campaign are short-term
The content published by Acorn influencers are always evergreen, which means it generates returns well beyond the end of a campaign. A contract for 10,000 engagements could easily grow into hundreds of thousands over time. Beautiful photos from the influencers have also been repurposed by brands in banner ads, catalogues and in-store displays.
Only ‘Mommy Bloggers’ have the power to influence shoppers
Influencers across every industry have the power to influence their audience.
Influencer marketing agencies boast large networks of influencers who have been selected based on previous performance in paid campaigns. The network taps many industries, including several niches, that go beyond mommy bloggers.
Influencers can be compensated with free products
Very few influencer marketing agencies will compensate with products. Bloggers, and social media marketers run personal businesses, and their work needs to be appropriately compensated. Compensation for influencers should always be included within a campaign contract. Free products are usually sent to the bloggers so they can take photos, capture video, and review the products appropriately.