November 16, 2021 | 6 Min Read
Influencer marketing is expected to be a $15 billion dollar industry by 2022, but there are still misconceptions about working with influencers. There are numerous misconceptions, ranging from the fact that it is too expensive to obtain results from Nano or Micro-influencers. Are you ready to separate fact from fiction? We’re busting four common misconceptions about working with influencers.
If you’ve ever worked in the influencer marketing industry, you’ve probably heard some of the following common misconceptions:
- Influencer marketing is costly.
- Nano and micro-influencers do not produce results.
- Paid partnerships are difficult to establish
- All influencers purchase followers
But where do these myths originate, and is there any truth to them? Let us investigate.
Myth #1: Influencer marketing is costly
As you might expect, partnering with a Mega Macro influencer (with more than 1 million followers) can be costly. Prices may also differ depending on how you intend to work with them. Will it be a one-time post for a specific campaign, or will you work with them on a long-term basis?
Working with influencers on a regular basis can help to increase brand awareness and build trust with their target audience. Because the influencer marketing industry is still in its early stages, there is no such thing as one-size-fits-all pricing for influencers. However, before working with influencers, use your budget to determine how many you can work with and for how long — paying them fairly for their work is critical for a long-term relationship. Even the smallest influencers put in time and effort to create visually appealing content.
Myth #2: Nano and micro-influencers are ineffective
Nano influencers (those with fewer than 10,000 followers) have higher engagement rates than top-tier influencers. According to the Later x Fohr Influencer Marketing Report, Nano influencers have the highest average engagement rate of 4% across all feed and sponsored posts. Working with multiple Nano influencers can be a great option if your goal is to tap into a niche, highly engaged communities. Although nano and micro-influencers do not have the same mass reach as Mega Macro (1M+) influencers, they can be a more cost-effective option for brands looking to target specific audiences.
Myth #3: Paid partnerships on Instagram are difficult to establish
Another widely held misconception is that Instagram’s Branded Content tools are not available to everyone. What is the truth? All you need is a Business profile. Simply go to “Settings” and then choose “Business.” Scroll all the way down to the “Branded Content” section. Then, toggle the “Manually Approve Tags” button to the on position. You can approve accounts to create sponsored content for you once you’ve been set up.
Myth #4: All Influencers purchase followers
There’s no getting around it: fake followers exist — and some influencers do inflate their social media follower count. However, not all influencers purchase phony followers. Indeed, there is a growing emphasis on the quality of an influencer’s following, with many people believing that a smaller, more engaged following is just as good, if not better than a larger, disengaged one. If you’re unsure about the legitimacy of an influencer’s following, there are steps you can take before agreeing to a partnership. Consider how many likes and comments their posts receive, as well as the accounts that are actively engaging with them. Do they appear sincere?
If this isn’t enough, you can request a validated performance report or use a third-party validation tool such as Fohr or Social Blade. Influencers can raise brand awareness, drive sales, and build a community of advocates with the right strategy. Their authenticity gives them power. Influencers can establish a genuine connection with their audience and serve as a reliable source of inspiration. They can sell products in a less salesy manner once they have earned the trust of their community – it’s like a recommendation from a friend.