Busch’s 5WPR note: “Many companies work with influencers on their marketing campaigns. It’s a constantly changing and evolving strategy that has become incredibly popular over the past decade. However, there are some influencer marketing myths that businesses should avoid assuming. to be true.”
Young target audience
Many companies around the world are trying to attract a younger generation of consumers with influencer marketing campaigns. However, influencer marketing is not only useful for attracting young consumers. Many older generations of consumers are spending a lot of time on social media platforms and shifting their shopping habits towards delivery services, online retail and subscriptions. All of this gives businesses plenty of opportunities to use influencer marketing campaigns to engage with consumers of different generations.
Many companies in the B2B industry tend to avoid working with influencers on promotional campaigns because they don’t think these campaigns will work. However, there are many examples of B2B companies that have worked with influencers on their marketing campaigns and achieved great success. One such example is Microsoft, which partnered with National Geographic photographers on a social media campaign that resulted in over a thousand user-generated content downloads and over 3 million likes on Instagram. American Express is another example of a company that has worked with small business owners as influencers for the Love My Store campaign, which has resulted in hundreds of thousands of Love My Store decal orders. All of these examples show that businesses in the B2B industry can explore different ways of working with influencers on marketing campaigns, whether that means working with social media influencers or other types of influencers.
The biggest shift in influencer marketing in recent years is that companies have moved from working with influencers with large numbers of followers to instead working with micro and nano-influencers with smaller, more specialized audiences. This isn’t a shift in the overall trend of Instagram marketing, but a shift in strategic approach, as companies have noted that consumers resonate more with smaller influencers.
Large number of subscribers
To follow up on the last point, accounts with a large number of followers being the best influencers are one of the biggest influencer marketing myths. Traditionally, influencer marketing meant working with social media users who have a lot of followers, but that definition of influencer marketing has definitely changed lately. Although larger accounts with millions of followers are what people usually think of when they think of influencers, there are many other smaller social media communities that have recently gained popularity. The most notable change companies have discovered is that large influencers have an average conversion rate of around 3%, while nano-influencers convert consumers at around 30%. This means that for more effective marketing campaigns, companies should seek to work with social media influencers who are members of niche communities.
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SOURCE 5W Public Relations