The Pros and Cons: Social media opened up new ways for marketers to connect with customers. Analytics and Big Data allow marketers to use predictive analytics to better understand their target audience. Knowing which social media platforms their audience uses most and what content engages them helps marketers create strong social media strategies. Many companies now use social media influencers as part of their marketing strategies because it’s a great way to get quality leads and new website visitors. This is called influencer marketing. Many brands use an influencer marketing platform to properly manage their influencer marketing campaigns. Let’s understand the pros and cons of influencer marketing in this post.
Pros of Influencer Marketing (The Pros and Cons)
- Reaching the Right Audience
One big benefit of influencer marketing is that it allows you to reach audiences that are highly relevant to your brand. Influencers build followings of people interested in their specific niche. By partnering with influencers in your industry, you can get in front of an audience that is already primed to want your product or service.
- Building Brand Trust
Influencers are seen as trusted experts by their followers. When an influencer endorses your brand, it instantly adds credibility. Their followers trust their recommendations because the influencer has built authenticity by providing valuable content over time. This “social proof” from influencers helps make potential customers feel good about purchasing from you.
- Expanding Your Reach
Popular influencers with large followings can significantly increase the number of people exposed to your brand. Their authentic friend-like relationship with followers makes people much more inclined to listen to their opinions and purchase what they promote. Influencers make it easier to drive new customer acquisition.
- Cost-Effective Marketing
Working with micro-influencers (those with smaller niche audiences) is a cost-effective way to try influencer marketing. Many will promote your products/services in exchange for free products rather than cash payment. This allows targeted marketing within your budget.
- Saving Time and Effort
Influencers are experts at creating engaging content that attracts and resonates with their audiences. When you partner with them, you get access to their content creation skills. This saves you the time and effort of having to develop that content yourself.
Cons of Influencer Marketing
- Brand Reputation Risks
When working with influencers, brands are associating their reputation with that person. If an influencer gets caught up in controversies or negative publicity, it can directly hurt the brand’s image as well. Choosing the right influencers with the help of an influencer platform for brands whose values and public persona align with the brand is crucial.
- Measuring Real Impact is Difficult
While metrics like likes, comments and views provide some insight, they don’t necessarily translate to real increases in areas like brand awareness or sales. The true impact of influencer marketing on your actual business goals can be very challenging to measure accurately. Multiple evaluation methods are needed rather than relying on simple metrics.
- Costs Can Vary Greatly
The cost of working with influencers ranges dramatically based on their popularity, niche, and engagement levels. While micro-influencers are affordable, top influencers charge premium prices. This makes it hard to properly budget and estimate your potential return on investment.
Influencer marketing is a powerful tool but brands need to be very careful with how they approach it. Proper planning ahead of time is essential to avoid potential downsides.
