The impact of influencers on today’s digital marketing plans is undeniable. Every brand is clamoring to secure partnerships with high-quality content creators. And audiences cannot open their Instagram applications without seeing sponsored posts from their favorite bloggers and social media personalities.
What a few short years ago seemed like a novelty practice scattered among a few forward-thinking brands and agencies has given rise to a dedicated marketing vertical.
Yet although this rise has been in the works a few years, a few setbacks have occurred along the way. After all, influencer marketing is still a comparatively young digital practice, meaning ad brands and influencers alike have had to work through some growing pains.
One of those is the overestimation of the value of reach. While brands and influencers have experienced frustration equally, both have learned valuable lessons that have matured this practice. Here are three steps to incorporate into your own influencer strategy, to generate a higher ROI.
Focus on micro-influencers.
It sounds illogical to say that an influencer with a smaller following will have a greater impact than one with a massive, global following; but, more often than not, it’s true.
In influencer marketing’s infancy, brands were hypnotized by follower numbers. However, as the practice matured, brands began to notice a distinct disconnect between their following and their engagement numbers. In 2016, Digiday cited a Markerly study which proved that the higher the follower base, the lower the engagement.