The 7 Biggest Myths in Influencer Marketing

Influencer marketing is set to become a $15 billion industry by 2022, yet some brands are still hesitant to partner with an influencer.[1] Whether the concern is the cost, not getting the right influencers, or not getting a positive ROI, there are numerous misconceptions about what influencer marketing is – and what it isn’t.

Discover the top 7 influencer marketing myths:

Myth 1: Influencer Marketing is Expensive

For many brands, the cost of influencer marketing is the biggest obstacle. Partnering with big-name macro influencers with over 1 million followers tends to be expensive, but partnering with micro influencers with less than 100,000 followers isn’t and can be just as effective (or more so!).

The prices for influencers can vary depending on the content you’re looking for. Long-term collaborations are more expensive, but they can pay off in brand awareness and trust. A one-off post is cheaper, but may not have a huge impact on brand awareness.

Of course, create a budget before choosing to work with an influencer. This can help you determine which influencers are right for your needs and what type of content you can expect. Don’t try to cut corners in cost, however, since most influencers put time and effort into promoting your brand effectively.

Myth 2: Micro Influencers Can’t Get Results

Micro influencers and nano influencers may have smaller followings, but they have higher engagement rates than some of the famous macro influencers.

According to research from Later x Fohr’s Influencer Marketing Report, nano influencers have the highest average engagement rate at 4 percent.[2] If you’re working in a niche community, a nano or micro influencer can be a boon for your business.

In addition, these influencers and content creators tend to be more cost-effective for brands looking to work within a niche audience. You can get a lot of engagement with a smaller following and these influencers aren’t as difficult to partner with.

Myth 3: Influencers Purchase Followers

While influencers with fake followings exist, that’s not true of all influencers. For micro influencers, the emphasis is on quality and not quantity – attracting passionate, engaged followers over large followings with little interest.

If you’re considering an influencer partnership and unsure whether their following is authentic, you can find out several ways. You can do this yourself by looking at the accounts that follow them and like their posts, or use a third-party validation tool to verify them.

Myth 4: Influencer Marketing is Only for B2C Brands

Influencer marketing gained its attention through retail brands, mostly in the lifestyle, fashion, food, and beauty industries. However, now influencers can be found in just about any industry you can think of, making them valuable for B2B as well as B2C brands.

Not convinced? Consider that Cisco uses influencer marketing to excellent results with its Cisco Champions campaign.

Myth 5: Influencers Only Work for Online Content

Sure, most of influencer marketing is conducted online, but not all influencers operate solely in digital spaces. Influencers become brand advocates themselves, so they share their brand experiences with friends, relatives, and coworkers in their personal lives.

With that, you get online brand awareness and offline word-of-mouth recommendations.

Myth 6: Influencers Are Only on Social Media

Yes, influencer marketing is focused on social platforms like YouTube, Facebook, Instagram, and TikTok, but influencers also have clout in other spaces. Some influencers will create content for blogs or forums and leave reviews on ecommerce platforms and websites.

Depending on your niche and influencer, you could get a lot of traction in the broader online world beyond social media.

Myth 7: Influencers Are All About the Money

Celebrity influencers and macro influencers have high prices for professional work, which is fair given the time they’ve spent building their personal brand and their following. Most influencers want to partner with and promote brands they believe in, however. They’ve earned their following by offering value to their followers, so promoting a brand they don’t believe in could jeopardize that.

So yes, influencers are doing professional work and expect compensation for it, but they have integrity. Most influencers won’t work with just any brand to get a paycheck – they’re looking for brands that they believe can help their followers and are passionate in supporting the brands they love.

Ready to Get Started?

Influencer marketing is a trend in digital marketing, but there are plenty of influencer marketing myths and misconceptions that persist and prevent brands from forming valuable partnerships. The truth is that influencer marketing is one of the most effective ways to drive traffic to your website and build awareness and credibility for your brand.

Sources:

[1] https://www.insiderintelligence.com/insights/influencer-marketing-report/

[2] https://get.later.com/influencer-marketing-report-selling-power/