1. Having Little or No Campaign Planning
Some brands think that just by running an influencer marketing campaign, the hard work is done. In reality, your hard work should begin even before you have decided to launch an influencer marketing campaign. Rushing into an influencer marketing campaign can be tempting. However, this can cause serious problems down the line.
Launching a successful company requires a proper business plan.
2. Mistaking Celebrity Endorsements for Influencer Marketing
One should never confuse celebrities with influencers. This is among the worst influencer marketing mistakes you shouldn’t make. Although celebrities have a bigger reach when it comes popularity, they may not have the right audience for your brand.
According to a study social media celebrities with over 10 million followers have an engagement rate of 0.04% on Instagram. However, with a following of less than 1000 people have an engagement rate of 8%. Hence, choosing micro-influencers will not only get you the right audience, but also increase engagement rates.
3. Choosing the Wrong Social Media Platform
A strong social media presence can do wonders for your business. However, many businesses are not able to harness the true potential of social media. This is simply because they choose the wrong social media platform for their business. In a world of cutthroat competition, social media has become an integral part of business marketing. Even small businesses have started to maintain their own Facebook and Instagram pages. So when you are planning to launch an influencer marketing campaign, it is important that you choose the right social media platform.
Choosing the right channel will help you connect with the right target audience you need for the growth of your brand.
4. Not Using the Right Measuring Mechanisms
The most effective way to measure an influencer marketing campaign’s success is by using the right analytic platforms.
While measuring your influencer marketing campaign’s results and ROI, you need to keep your brand’s goals in perspective. This is because key performance indicators (KPIs) and metrics will differ depending on the campaign’s primary objective.
5. Expecting Instant Results
Influencer marketing is a long-term strategy. This means that you cannot expect overnight results just by running one campaign - Although you might get results 90% of the time on first trial. Influencer marketing has been designed to increase brand popularity and awareness slowly and steadily.
6. Choosing The Wrong Influencer
Influencer marketing campaigns don’t come cheap. Although they bring in substantial returns on investment, the possibility of a campaign becoming unsuccessful doesn’t go away. And a failed campaign can be detrimental to your brand if you choose the wrong influencer. This is a major influencer marketing mistake you should definitely avoid.
A study by Econsultancy found that 73% of marketers’ biggest problems are with identifying the right influencer. Choosing an influencer who is not suitable for your brand won’t just make you lose money. It can also send out the signal that you do not understand the interests of potential consumers. By doing this, you can lose their trust. Think about it, why will consumers buy from you when they do not even trust your brand? The Pepsi ad campaign that was released last summer which featured popular model Kendall Jenner is a perfect example here.
Hence, an influencer who has the right image and audience you need for your brand is the only right influencer.
7. Choosing Influencers on the Basis of Fan Following
It’s important to understand that a larger audience does not necessarily guarantee better engagement rates. Looking for an influencer who has an extensive reach is important when you want to broadcast a message to the masses.
However, the same may not be a good idea when you are looking for an increase in conversions. In order to see substantial gains, you should partner with influencers who can engage the right-sized audience of your target consumers. The same Markerly study found that influencers with larger audiences lack in terms of engagement rates.
8. Not Focusing on Personalization
One of the biggest influencer marketing mistakes brands make when reaching out to influencers is not focusing on personalization. Brands need to understand that influencers are also people, and not commodities purchased for a price. Influencers not only add credibility but also becomes the voice of your brand. Therefore, collaborating honestly and openly will help you build long-lasting relationships with your influencers.
9. Overspending on the Influencer Marketing Campaign
Another major influencer marketing mistake is overspending on your campaign. As a brand, you should understand costs, and how overspending may not give you enhanced results on your marketing campaign. Overspending on influencer marketing happens mainly because of two reasons. The cost of influencer marketing varies from influencer to influencer and campaign to campaign. A campaign that requires a lot of legwork and engagement will cost more than a campaign that requires fewer posts.
The second reason is not knowing exactly how much an influencer charges for an advertising campaign. Influencers do not advertise their fees. This is done to avoid negotiations from present and future clients. The State of Influencer Marketing found that 50% of marketers go with a cost-per-engagement or cost-per-click compensation model for their influencer marketing campaigns.
Got more mistakes you have experienced? Share in the comments