There are myths prevalent about influencer marketing, miscommunicating its impact on how you should be formulating your marketing strategy.
Here are some of the biggest influencer marketing myths many brands still think are true:
#Influencer marketing is expensive
If you’re targeting big-name celebrity influencers, then it might be but if you’re actually working with organic, niche influencers then its not expensive. Check on various service providers to identify your brand influencer, where you can get your influencers for a very economical fee.
#You must provide influencers monetary compensation
Not all influencers will require payment for a partnership with your brand. Compensation can also mean different things to different influencers. While some will want monetary compensation, others may want less tangible benefits
#The more followers an influencer has, the better
Not always. Kim Kardashian and Ashton Kutcher has so many followers in the social media but they need not be the right sponsor for many brands. Instead of follower count, look at the followers engagement. The more the followers are engaged the more they are likely to take action. Moreover lasting influence comes from trust, not your number of followers.
#If a person is popular, it follows that he or she is an influencer.
Popularity is not the only criteria for clout. Influence needs trust and expertise and not just charm or charisma.
# Measuring the ROI of influencer marketing is impossible
With the right metrics, discovering whether or not your influencer-marketing program is successful is feasible today. Your marketing goals will determine which metrics to measure whether its brand awareness, social shares, engagement, click-through rates and conversions.
#Influencers will not agree to work with you unless you pay them.
Not everyone expects to get paid for his or her opinion. In the business world, it is quite common to barter. The chances are very good that you have something that the influencer finds valuable and you may very well be able to strike a deal with him or her.
#Influencer marketing cancels out other established forms of marketing
There is no way that this is true. Just like any other form of marketing, influencer marketing is most effective if it works in tandem with other types of marketing.