Influencer marketing is one of the hottest trends. Marketing your products or services is no longer complete without looking into influencer marketing! However, being a relatively young industry, there are still pitfalls that advertisers can fall into. Since influencer marketing can come with significant costs, you always want to ensure that every partnership you sign on will help you meet your business goals. And in the world of influencer marketing, it’s no longer just about the number of followers. Sometimes less is more! Read on as we discover the critical factors most advertisers will miss out when engaging a social media influencer.
1. Niche vs Generic Influencers
What makes a social media influencer an effective figure within their niche? Whether they’re into beauty, health and wellness, fashion, travel or food, influencers with a specific focus are thought leaders within their community. However, there are also influencers with a large following who post about something new every day. At face value, a large following might seem ideal. But if you’re offering a niche product or service and you want to target specific audiences, working with generic, large-scale influencers may not give the best ROI. On the other hand, niche influencers will give you access to audiences that are already engaged with products in your niche.
2. Engagement Rates
Would you be surprised if we said that Instagram influencer engagement is nearing an all time low? This study showed that while posting volume went up, there was a 34% drop in the median engagement rate from 2020 to 2021! As social media allows more people to become influencers, social media has quickly become oversaturated. It’s impossible for audiences today to keep up with all of the content coming from the influencers they follow. So how can advertisers work around this industry issue? Rather than working with influencers with a large following, consider that niche influencers have a tighter-knit community and interact more with their audiences, thus inspiring higher engagement.
3. Social Platform (Youtube vs Instagram vs TikTok)
Depending on your industry and business goals, some influencers from certain platforms might fit better than others as each platform has different audience behaviours.
For instance, TikTok now has the highest reach amongst popular social media platforms like Instagram and YouTube. However, it tends to attract a younger audience who are less “sticky”, as they are just endlessly browsing short-form videos. TikTok users tend to expect influencers to create more original content than promotional branding.
On the other hand, Instagram is great for creating brand awareness, a sense of community and building relationships. This is where niches such as home improvement and fashion thrive. Instagram’s audience is slightly older and more diverse, which also means a higher buying power.
Lastly, YouTube influencers specialise in long form videos which provide more value and brand recall. Followers tend to have a stronger connection to the content creator/influencer as compared to TikTok and Instagram. They’re great for explanatory videos, especially if your product or service is complex or has lots of talking points.
Now that we’ve pointed out the critical factors most advertisers will miss out when engaging a social media influencer, it’s time for you to consider what kind of influencer will best fit your product and goals. Need more guidance or want to explore deeper into the topic? Read our post on how to choose the right social media influencer for your brand!