Since influencer marketing first blew up back in 2006, many brands have invested time and money in building influencer strategies. Today, however, many businesses are wondering whether these strategies still prove to be effective in the current climate. Clearly, many businesses still see value in these strategies, proven by the oversupply of influencers posting #ads. However, too many of these ads can dull the senses to those viewing the posts, making them ineffective. Today, consumers are smarter and more skeptical, hesitant to trust influencers’ recommendations. On the flip-side, some influencers still maintain loyal, dedicated followers, and only post content they believe in. As many brands know, these authentic influencers can rake in high ROI for their partnerships. All of this information leads to the question: is influencer marketing still worth it?
To find out, we talked to BLND PR Account Executive and influencer marketing expert and Sara Myers for her insights on influencer trends and if the strategy is still worth it for brands.
Has COVID-19 affected influencers/influencer marketing? If so, how?
While influencer marketing is still going strong despite COVID-19 (it is afterall the new endorsement advertising in many ways), we’ve seen influencers – and consumers – take a step back in what they’re consuming and how they’re promoting it. It’s been refreshing to see many influencers set the tone for being respectful of difficult times the world is in, while still balancing being a welcomed, lighthearted escape for many followers and consumers.
Do you think consumers still trust influencers in 2020?
No and yes. I think there are many influencers who have done a great job in being truly authentic and have worked hard at connecting and building trust with their audience. On the flipside, there is a growing trend of larger, or “top” tier influencers not being as believable or relatable. The marketing sweet spot is in micro to mid tier influencers.
Do you think that macro or micro influencers are better? Which see better conversions?
While it’s difficult to guarantee conversions with influencer marketing – the number one goal is really brand awareness – research is showing more and more that micro influencers have higher conversion rates than larger macro level ones. It’s simple psychology here: micro influencers are relatable, like a trusted friend or sister, while macro influencers tend to take on a celebrity status that makes their lives seem unattainable and ultimately, unrelatable to most consumers.
When is a brand ready for an influencer marketing strategy?
This is a great question and I think something brands get wrong often. Influencer marketing should come after your product or service is tried and testing. Your branding, voice, and messaging should be locked down. Your social media and website should be up and running, and gaining traction. Influencers and their followers will quickly see through an inadequate product. If you don’t have the social media platform or engaging website to redirect an influencer’s followers to, you’re losing out on the potential success influencer marketing can offer.
All things considered, is influencer marketing still worth it?
Absolutely. I think it’s an important part of any brand’s PR and marketing strategy. However, it is just that – a part of the strategy and shouldn’t be relied upon as the whole strategy. Coupled with media placements, strong social media content, and advertising campaigns, influencer marketing can really help round a brand’s strategy out and help take it to that next level.
To learn more about how to choose the best influencers for your brand, click here.
