The concept of influencer marketing is not new in the marketing world. Many marketers and businesses are aware of this concept, and many of them have managed to get a huge return on investment from their campaigns. The study shows that the effective influencer marketing campaign can earn you $6.5 or more for every dollar you spend on the campaign.
Despite the fact that many businesses have been able to get a handsome rate of return on their investment, some businesses have failed miserably. And, it’s also true that without mistakes, there cannot be an improvement in the system and overall strategies. Smart people learn from other’s mistake, and this is what you should do. I’m about to reveal 5 common mistakes seen in the influencer marketing campaign that has resulted in a lower return on investment.
5 Common mistakes you should avoid while running an influencer marketing campaign
There is a better chance of running an effective campaign if you’re well aware of the common mistakes made while running an influencer marketing campaign. According to the survey, 84% of the marketers are planning to launch at least one influencer marketing campaign within the upcoming 12 months. You must be one of them, as you are reading this article. Here are 5 common influencer marketing mistakes to avoid.
- Thinking influencer marketing and celebrity endorsement is same
Many businesses want to contact celebrities to endorse their products, and they think they are conducting an influencer marketing campaign. However, it’s not the right way to conduct a campaign. Celebrities could be influencers, but thinking that only celebrities can be influencers is a wrong way to go. You should broaden your thinking and search for people with a small, but strong fan following to increase the engagement.
According to a survey, the majority of the people are likely to purchase a product recommended by a micro-influencer rather than a person with a huge fan following. It’s because micro-influencers have developed a healthy relationship with their followers, and they have a higher engagement rate. Think twice before choosing an influencer for your campaign. You should also think about sponsored blog posts to enhance your reach.
- Ignoring the fan base of the influencer
Not all the influencers have the fan base that falls under your target customers. There are many influencers in various social media platforms, and each of them has their own niche. Some businesses just analyze the fan base and engagement, and then they quickly hire the influencer to do the job for them. However, it’s a big mistake to do that. You should do enough research before you actually contact the influencer.
Suppose, you are trying to promote your beauty product, and you decide to contact the admin of an entertainment page. Do you think you will get a decent return on your investment if you do so? Obviously, you won’t be getting a decent return. You need the influencer with followers who are interested in their looks. This is how you can have a decent rate of return on your investment.
- Influencer failing to comply with the FTC’s Rules
You should take note of various rules imposed by the US Federal Trade Commission (FTC) before launching your advertisement campaign. Not doing so will invite heavy fines for your business. Your influencer must comply with the rules imposed by the US Federal Trade Commission, and they must be transparent with their audiences. Social media influencers should let their audiences know that it’s a commercial post.
Some big corporations such as the Google and Disney were even fined by the FTC after they failed to comply with the rules of the FTC. Check out the rules in the specific geography where you are launching your campaign. Both you and your influencer should do some research before launching a campaign.
- Not measuring your campaign properly
Only calculating your return on investment is not enough. The measurement of your campaign should include each and every activity of your campaign. There is a chance that your campaign is able to give you a decent return on your investment, but you are only getting high quality leads from a few influencers. Will you keep on paying the rest of your influencers after knowing this fact? Measuring the performance is one of the most important tasks to do.
Without measuring the performance, you neither can control your campaign nor can you further improve your campaign in the future because you will not be able to get valuable insights from your campaign. According to the study, around 53% of the marketers find it difficult to successfully measure the performance of the campaign. While measuring your campaign, you should first note down the key metrics and indicators to measure your campaign from different perspectives.
- Only focusing on short-term relationships
There are businesses who only ask an influencer to promote their product once, and they eventually end the relationship right after some days or weeks. However, it’s not how you get success from your influencer marketing campaigns. Are you planning to sell your product only once? Don’t you want repeated customers? If yes, then you should build a long-term relationship with your influencers.
You should run the campaign for months or even years to get a good rate of return on your investment. By carrying out a long-term campaign, you build a trust and a good relationship with your influencers and customers.
Now that you’re well aware of the 5 common influencer marketing mistakes, you’re already ahead of many marketers. You will be restrained from these 5 common mistakes in your campaign, which will increase the chance of your success.
Before implementing a campaign, you should plan the campaign carefully to get a maximum outcome from your campaign. Influencer marketing is comparatively cheaper in comparison to other traditional advertisement campaigns, and it also has a potential to get you a massive return on your investment.
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